Inspire Medical Systems (NYSE:INSP) Downgraded to “Underperform” Rating by Bank of America

Inspire Medical Systems (NYSE:INSP) was downgraded by Bank of America from a “neutral” rating to an “underperform” rating in a report issued on Friday, MarketBeat.com reports. They presently have a $39.00 price target on the stock. Bank of America‘s price target indicates a potential downside of 12.98% from the company’s current price.

A number of other analysts have also commented on the stock. Zacks Research lowered shares of Inspire Medical Systems from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 13th. Truist Financial lowered their target price on shares of Inspire Medical Systems from $64.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday, May 5th. Mizuho lowered their target price on shares of Inspire Medical Systems from $70.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Oppenheimer reiterated a “market perform” rating on shares of Inspire Medical Systems in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. cut their price target on shares of Inspire Medical Systems from $67.00 to $54.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 5th. Four analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $81.84.

Inspire Medical Systems Price Performance

Shares of Inspire Medical Systems stock opened at $44.82 on Friday. The firm has a market cap of $1.29 billion, a P/E ratio of 9.98, a P/E/G ratio of 4.56 and a beta of 0.83. The firm has a 50 day simple moving average of $51.93 and a 200 day simple moving average of $76.52. Inspire Medical Systems has a fifty-two week low of $39.61 and a fifty-two week high of $148.55.

Inspire Medical Systems (NYSE:INSP) last released its earnings results 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 analyst estimates of $200.04 million. During the same quarter in the previous year, the business earned $0.10 EPS. The business’s quarterly revenue 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. On average, sell-side analysts expect that Inspire Medical Systems will post 0.91 EPS for the current year.

Hedge Funds Weigh In On Inspire Medical Systems

A number of large investors have recently modified their holdings of INSP. Royal Bank of Canada boosted its stake in shares of Inspire Medical Systems by 16.0% during the 1st quarter. Royal Bank of Canada now owns 32,769 shares of the company’s stock worth $5,220,000 after buying an additional 4,528 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Inspire Medical Systems during the 1st quarter worth about $524,000. Goldman Sachs Group Inc. boosted its stake in shares of Inspire Medical Systems by 57.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 51,422 shares of the company’s stock worth $8,190,000 after buying an additional 18,857 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Inspire Medical Systems by 3.8% during the 2nd quarter. Marshall Wace LLP now owns 15,905 shares of the company’s stock worth $2,064,000 after buying an additional 577 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Inspire Medical Systems in the 2nd quarter valued at about $931,000. 94.91% of the stock is currently owned by institutional investors and hedge funds.

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.