Inspire Medical Systems (NYSE:INSP) Stock Rating Lowered by Zacks Research

Inspire Medical Systems (NYSE:INSP) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Evercore reaffirmed an “outperform” rating on shares of Inspire Medical Systems in a research report on Friday, February 27th. Truist Financial cut their price target on shares of Inspire Medical Systems from $70.00 to $64.00 and set a “hold” rating on the stock in a research report on Wednesday. Jefferies Financial Group cut their price target on shares of Inspire Medical Systems from $81.00 to $66.00 and set a “hold” rating on the stock in a research report on Thursday, February 12th. UBS Group set a $67.00 price target on shares of Inspire Medical Systems in a research report on Friday, February 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of Inspire Medical Systems from $82.00 to $118.00 and gave the company a “neutral” rating in a research report on Tuesday, December 16th. Five equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $101.41.

Inspire Medical Systems Trading Down 0.2%

Shares of INSP opened at $56.69 on Tuesday. The stock has a market capitalization of $1.63 billion, a P/E ratio of 11.38, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. The firm’s fifty day simple moving average is $58.47 and its two-hundred day simple moving average is $81.23. Inspire Medical Systems has a 12 month low of $48.30 and a 12 month high of $163.35.

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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.15 earnings per share. As a group, research analysts predict that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Inspire Medical Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP bought a new position in shares of Inspire Medical Systems during the 4th quarter worth about $203,929,000. Wasatch Advisors LP boosted its position in shares of Inspire Medical Systems by 7.2% during the 2nd quarter. Wasatch Advisors LP now owns 1,634,395 shares of the company’s stock worth $212,095,000 after purchasing an additional 110,288 shares in the last quarter. William Blair Investment Management LLC boosted its position in shares of Inspire Medical Systems by 68.7% during the 3rd quarter. William Blair Investment Management LLC now owns 1,297,573 shares of the company’s stock worth $96,280,000 after purchasing an additional 528,404 shares in the last quarter. Morgan Stanley boosted its position in shares of Inspire Medical Systems by 179.5% during the 4th quarter. Morgan Stanley now owns 1,259,762 shares of the company’s stock worth $116,188,000 after purchasing an additional 809,121 shares in the last quarter. Finally, Deerfield Management Company L.P. boosted its position in shares of Inspire Medical Systems by 648.4% during the 3rd quarter. Deerfield Management Company L.P. now owns 1,047,694 shares of the company’s stock worth $77,739,000 after purchasing an additional 907,694 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

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.