Inspire Medical Systems (NYSE:INSP) Reaches New 12-Month Low – Here’s Why

Inspire Medical Systems, Inc. (NYSE:INSP) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $51.59 and last traded at $52.8650, with a volume of 85898 shares changing hands. The stock had previously closed at $53.72.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on INSP shares. Piper Sandler decreased their price objective on shares of Inspire Medical Systems from $165.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. Oppenheimer downgraded shares of Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 22nd. Wolfe Research lowered Inspire Medical Systems from an “outperform” rating to a “peer perform” rating in a report on Friday, February 13th. Morgan Stanley set a $60.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, February 18th. Finally, JPMorgan Chase & Co. lifted their price target on Inspire Medical Systems from $82.00 to $118.00 and gave the stock a “neutral” rating in a report on Tuesday, December 16th. Five analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Inspire Medical Systems presently has an average rating of “Hold” and a consensus target price of $104.24.

Inspire Medical Systems Price Performance

The company has a fifty day moving average price of $69.76 and a 200 day moving average price of $84.69. The company has a market cap of $1.54 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 2.66 and a beta of 0.74.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.96. The business had revenue of $269.08 million for the quarter, compared to analysts’ expectations of $264.02 million. Inspire Medical Systems had a net margin of 15.95% and a return on equity of 10.96%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the business earned $1.15 earnings per share. As a group, sell-side analysts predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Inspire Medical Systems

A number of large investors have recently modified their holdings of INSP. CWM LLC boosted its position in shares of Inspire Medical Systems by 216.1% during the fourth quarter. CWM LLC now owns 354 shares of the company’s stock valued at $33,000 after purchasing an additional 242 shares in the last quarter. Havemeyer Place LP purchased a new stake in shares of Inspire Medical Systems during the fourth quarter valued at approximately $39,000. V Square Quantitative Management LLC bought a new stake in shares of Inspire Medical Systems in the 4th quarter worth $40,000. Manning & Napier Advisors LLC bought a new position in Inspire Medical Systems during the 3rd quarter valued at about $32,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Inspire Medical Systems by 84.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 449 shares of the company’s stock worth $42,000 after purchasing an additional 205 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

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.