Inspire Medical Systems (NYSE:INSP) Shares Down 6.2% – Here’s What Happened

Inspire Medical Systems, Inc. (NYSE:INSP) shares fell 6.2% on Wednesday. The company traded as low as $69.10 and last traded at $68.63. 400,517 shares were traded during mid-day trading, a decline of 63% from the average session volume of 1,069,538 shares. The stock had previously closed at $73.18.

Analysts Set New Price Targets

A number of research firms have recently commented on INSP. JPMorgan Chase & Co. boosted their price objective on Inspire Medical Systems from $54.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. KeyCorp reaffirmed a “sector weight” rating on shares of Inspire Medical Systems in a report on Tuesday, August 4th. Piper Sandler boosted their price objective on Inspire Medical Systems from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Zacks Research lowered shares of Inspire Medical Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 22nd. Finally, Truist Financial reissued a “hold” rating and issued a $62.00 price objective (up from $54.00) on shares of Inspire Medical Systems in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Inspire Medical Systems has an average rating of “Hold” and a consensus price target of $67.44.

Inspire Medical Systems Price Performance

The stock has a market capitalization of $2.04 billion, a P/E ratio of 15.31, a PEG ratio of 5.25 and a beta of 0.73. The stock’s fifty day moving average is $63.07 and its 200-day moving average is $53.61.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.38. Inspire Medical Systems had a return on equity of 8.64% and a net margin of 15.03%.The company had revenue of $200.58 million during the quarter, compared to analysts’ expectations of $194.72 million. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. Inspire Medical Systems has set its FY 2026 guidance at 1.050-1.450 EPS. On average, research analysts expect that Inspire Medical Systems, Inc. will post 1.24 EPS for the current year.

Insider Transactions at Inspire Medical Systems

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

Institutional Investors Weigh In On Inspire Medical Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. Apollon Wealth Management LLC lifted its stake in Inspire Medical Systems by 5.6% during the first quarter. Apollon Wealth Management LLC now owns 3,997 shares of the company’s stock worth $206,000 after purchasing an additional 212 shares during the period. Havemeyer Place LP bought a new stake in shares of Inspire Medical Systems during the fourth quarter worth $39,000. Hantz Financial Services Inc. boosted its stake in shares of Inspire Medical Systems by 194.0% in the 4th quarter. Hantz Financial Services Inc. now owns 685 shares of the company’s stock valued at $63,000 after purchasing an additional 452 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in Inspire Medical Systems by 12.1% in the first quarter. Pictet Asset Management Holding SA now owns 5,018 shares of the company’s stock valued at $259,000 after buying an additional 542 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Inspire Medical Systems by 85.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,221 shares of the company’s stock valued at $54,000 after purchasing an additional 561 shares during the period. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc is a medical technology company focused on developing and commercializing treatments for obstructive sleep apnea (OSA), a condition in which the upper airway repeatedly becomes blocked during sleep. The company’s primary product is the Inspire therapy system, an implantable device designed for certain adults with moderate to severe OSA who are unable to use or obtain consistent benefits from continuous positive airway pressure (CPAP) therapy.

The Inspire system uses an implantable pulse generator, a stimulation lead and a sensing lead.