Inspire Medical Systems (NYSE:INSP) Sets New 1-Year Low – Here’s What Happened

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $69.50 and last traded at $68.4250, with a volume of 21556 shares traded. The stock had previously closed at $72.10.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on INSP. Zacks Research raised Inspire Medical Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, October 27th. Robert W. Baird boosted their price objective on Inspire Medical Systems from $125.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. UBS Group set a $96.00 target price on Inspire Medical Systems in a report on Thursday, January 22nd. Morgan Stanley reissued an “equal weight” rating and issued a $130.00 price target (up previously from $105.00) on shares of Inspire Medical Systems in a research report on Tuesday, December 2nd. Finally, Evercore restated an “outperform” rating and set a $125.00 price target on shares of Inspire Medical Systems in a research note on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $133.47.

Inspire Medical Systems Stock Performance

The firm has a 50 day simple moving average of $99.89 and a two-hundred day simple moving average of $93.26. The firm has a market capitalization of $1.91 billion, a P/E ratio of 44.75, a PEG ratio of 6.62 and a beta of 0.74.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Monday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.53. Inspire Medical Systems had a net margin of 5.05% and a return on equity of 9.41%. The firm had revenue of $224.50 million during the quarter, compared to analyst estimates of $220.39 million. During the same quarter in the prior year, the business posted $0.60 EPS. The business’s revenue was up 10.5% compared to the same quarter last year. Sell-side analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Insider Buying and Selling

In other Inspire Medical Systems news, Director Shawn Mccormick sold 2,000 shares of Inspire Medical Systems stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $127.48, for a total transaction of $254,960.00. Following the transaction, the director owned 26,046 shares of the company’s stock, valued at $3,320,344.08. This trade represents a 7.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Inspire Medical Systems

Institutional investors and hedge funds have recently modified their holdings of the business. Manning & Napier Advisors LLC purchased a new position in Inspire Medical Systems in the third quarter worth $32,000. CWM LLC raised its stake in shares of Inspire Medical Systems by 216.1% during the 4th quarter. CWM LLC now owns 354 shares of the company’s stock worth $33,000 after purchasing an additional 242 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Inspire Medical Systems in the 4th quarter worth about $40,000. Larson Financial Group LLC boosted its holdings in shares of Inspire Medical Systems by 21,266.7% in the 3rd quarter. Larson Financial Group LLC now owns 641 shares of the company’s stock worth $48,000 after buying an additional 638 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Inspire Medical Systems during the third quarter valued at about $49,000. 94.91% of the stock is owned by hedge funds and other institutional investors.

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.