Inspire Medical Systems (NYSE:INSP) Cut to “In-Line” at Evercore

Inspire Medical Systems (NYSE:INSP) was downgraded by analysts at Evercore from an “outperform” rating to an “in-line” rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. They presently have a $40.00 target price on the stock. Evercore’s price target points to a potential downside of 3.73% from the company’s current price.

INSP has been the topic of several other reports. Weiss Ratings lowered shares of Inspire Medical Systems from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Robert W. Baird dropped their price objective on shares of Inspire Medical Systems from $63.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Oppenheimer restated a “market perform” rating on shares of Inspire Medical Systems in a research report on Monday, June 15th. Wells Fargo & Company decreased their target price on shares of Inspire Medical Systems from $70.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 5th. Finally, Stifel Nicolaus lowered their price target on shares of Inspire Medical Systems from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Four investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $81.05.

Inspire Medical Systems Stock Performance

Shares of INSP stock opened at $41.55 on Tuesday. Inspire Medical Systems has a 52-week low of $38.91 and a 52-week high of $147.03. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 4.31 and a beta of 0.73. The firm’s 50-day moving average is $46.49 and its 200-day moving average is $67.80.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, May 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.38. Inspire Medical Systems had a net margin of 14.33% and a return on equity of 10.35%. The firm had revenue of $204.58 million during the quarter, compared to analysts’ expectations of $200.04 million. During the same period in the previous year, the business posted $0.10 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Inspire Medical Systems has set its FY 2026 guidance at 0.750-1.250 EPS. Sell-side analysts predict that Inspire Medical Systems will post 0.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Edgestream Partners L.P. grew its stake in Inspire Medical Systems by 358.2% in the 1st quarter. Edgestream Partners L.P. now owns 82,268 shares of the company’s stock valued at $4,243,000 after buying an additional 64,315 shares in the last quarter. ADAR1 Capital Management LLC grew its position in shares of Inspire Medical Systems by 2,601.3% in the first quarter. ADAR1 Capital Management LLC now owns 405,197 shares of the company’s stock valued at $20,900,000 after purchasing an additional 390,197 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Inspire Medical Systems by 1,115.4% in the first quarter. EverSource Wealth Advisors LLC now owns 632 shares of the company’s stock valued at $33,000 after purchasing an additional 580 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Inspire Medical Systems by 31.6% during the 1st quarter. California State Teachers Retirement System now owns 34,473 shares of the company’s stock valued at $1,778,000 after purchasing an additional 8,287 shares during the period. Finally, Royal Bank of Canada lifted its holdings in Inspire Medical Systems by 2,203.1% during the 1st quarter. Royal Bank of Canada now owns 252,971 shares of the company’s stock worth $13,049,000 after purchasing an additional 241,987 shares in the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

About Inspire Medical Systems

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.