Zacks Research Downgrades Inspire Medical Systems (NYSE:INSP) to Hold

Inspire Medical Systems (NYSE:INSP) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks reports.

A number of other research analysts have also recently weighed in on INSP. UBS Group started coverage on Inspire Medical Systems in a research report on Tuesday, July 28th. They issued a “sell” rating and a $39.00 price target for the company. Evercore set a $54.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, August 4th. Truist Financial restated a “hold” rating and set a $62.00 target price (up from $54.00) on shares of Inspire Medical Systems in a report on Tuesday, August 4th. Weiss Ratings upgraded shares of Inspire Medical Systems from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday. Finally, Mizuho upped their price target on shares of Inspire Medical Systems from $55.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Inspire Medical Systems presently has a consensus rating of “Hold” and a consensus price target of $66.50.

Inspire Medical Systems Price Performance

INSP opened at $69.07 on Tuesday. The stock has a market cap of $2.00 billion, a P/E ratio of 14.95, a P/E/G ratio of 5.39 and a beta of 0.70. The stock’s 50 day simple moving average is $60.79 and its 200 day simple moving average is $53.18. Inspire Medical Systems has a 1-year low of $38.91 and a 1-year high of $147.03.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.38. The firm had revenue of $200.58 million during the quarter, compared to the consensus estimate of $194.72 million. Inspire Medical Systems had a return on equity of 8.64% and a net margin of 15.03%.Inspire Medical Systems’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period last year, the business posted $0.45 EPS. Inspire Medical Systems has set its FY 2026 guidance at 1.050-1.450 EPS. Research analysts expect that Inspire Medical Systems will post 1.24 EPS for the current fiscal year.

Insider Activity

In related news, insider Jason Kelly sold 963 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $59.55, for a total transaction of $57,346.65. Following the transaction, the insider owned 18,985 shares of the company’s stock, valued at approximately $1,130,556.75. This represents a 4.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.20% of the company’s stock.

Institutional Trading of Inspire Medical Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Inspire Medical Systems in the 2nd quarter valued at $211,341,000. Eventide Asset Management LLC lifted its stake in shares of Inspire Medical Systems by 71.5% during the 4th quarter. Eventide Asset Management LLC now owns 440,205 shares of the company’s stock worth $40,601,000 after purchasing an additional 183,547 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Inspire Medical Systems by 66.2% during the second quarter. Assenagon Asset Management S.A. now owns 864,395 shares of the company’s stock worth $38,561,000 after purchasing an additional 344,221 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Inspire Medical Systems by 21.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,020 shares of the company’s stock worth $24,358,000 after purchasing an additional 97,233 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Inspire Medical Systems by 14.4% in the first quarter. Renaissance Technologies LLC now owns 469,968 shares of the company’s stock valued at $24,241,000 after purchasing an additional 59,200 shares during the period. 94.91% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc develops and commercializes medical devices for treating moderate to severe obstructive sleep apnea (OSA), a condition in which the upper airway repeatedly becomes blocked during sleep. The company’s primary product is Inspire therapy, an implantable system designed for patients who are unable to use or obtain consistent benefit from continuous positive airway pressure (CPAP) therapy.

The Inspire system uses a small implantable pulse generator, a breathing-sensing lead and a stimulation lead.