Inspire Medical Systems (NYSE:INSP) Trading 4.9% Higher – Still a Buy?

Inspire Medical Systems, Inc. (NYSE:INSP) shares rose 4.9% during trading on Wednesday . The stock traded as high as $57.88 and last traded at $57.8750. Approximately 391,167 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 1,295,712 shares. The stock had previously closed at $55.15.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Jefferies Financial Group reduced their price objective on Inspire Medical Systems from $81.00 to $66.00 and set a “hold” rating on the stock in a research note on Thursday, February 12th. Wolfe Research lowered shares of Inspire Medical Systems from an “outperform” rating to a “peer perform” rating in a report on Friday, February 13th. Piper Sandler dropped their price objective on shares of Inspire Medical Systems from $165.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, February 12th. Wells Fargo & Company set a $70.00 target price on Inspire Medical Systems and gave the company an “equal weight” rating in a research note on Thursday, February 12th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Inspire Medical Systems in a report on Monday, December 29th. Five analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Inspire Medical Systems presently has an average rating of “Hold” and an average target price of $104.24.

Inspire Medical Systems Price Performance

The business has a fifty day moving average price of $72.30 and a 200 day moving average price of $85.46. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 2.91 and a beta of 0.74.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Wednesday, February 11th. The company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.96. Inspire Medical Systems had a net margin of 15.95% and a return on equity of 10.96%. The firm had revenue of $269.08 million during the quarter, compared to analyst estimates of $264.02 million. During the same quarter in the prior year, the firm posted $1.15 EPS. Inspire Medical Systems’s revenue was up 12.2% compared to the same quarter last year. Research analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Institutional Investors Weigh In On Inspire Medical Systems

A number of institutional investors have recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new position in Inspire Medical Systems during the 3rd quarter valued at $32,000. CWM LLC raised its stake in shares of Inspire Medical Systems by 216.1% in the 4th quarter. CWM LLC now owns 354 shares of the company’s stock worth $33,000 after buying an additional 242 shares in the last quarter. Havemeyer Place LP acquired a new stake in shares of Inspire Medical Systems in the fourth quarter valued at $39,000. V Square Quantitative Management LLC bought a new position in Inspire Medical Systems during the fourth quarter valued at about $40,000. Finally, Smartleaf Asset Management LLC grew its holdings in Inspire Medical Systems by 84.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 449 shares of the company’s stock worth $42,000 after acquiring an additional 205 shares during the period. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.