Inspire Medical Systems (NASDAQ:INSP) Raised to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Inspire Medical Systems (NASDAQ:INSP) from a sell rating to a hold rating in a research note published on Saturday morning, Zacks.com reports.

According to Zacks, “Inspire Medical Systems Inc. is a medical technology company. It focused on the development and commercialization of solutions for obstructive sleep apnea. The company’s proprietary Inspire therapy is a neurostimulation technology which provides treatment for moderate to severe obstructive sleep apnea. Inspire Medical Systems Inc.is based in Minnesota, United States. “

Separately, Bank of America reiterated a neutral rating and issued a $75.00 price target (up previously from $65.00) on shares of Inspire Medical Systems in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Inspire Medical Systems has a consensus rating of Hold and a consensus target price of $57.20.

Shares of Inspire Medical Systems stock opened at $63.41 on Friday. The firm’s 50-day moving average price is $64.48. Inspire Medical Systems has a twelve month low of $35.43 and a twelve month high of $69.71.

Inspire Medical Systems (NASDAQ:INSP) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.35) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.04. The firm had revenue of $16.30 million for the quarter, compared to analysts’ expectations of $17.79 million. The business’s revenue for the quarter was up 63.0% compared to the same quarter last year.

In other Inspire Medical Systems news, CFO Richard Buchholz sold 4,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $50.05, for a total value of $200,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy P. Herbert sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $66.95, for a total transaction of $1,004,250.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 705,104 shares of company stock valued at $44,805,678.

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System acquired a new position in shares of Inspire Medical Systems in the second quarter worth about $768,000. Swiss National Bank raised its position in shares of Inspire Medical Systems by 86.3% during the 2nd quarter. Swiss National Bank now owns 21,800 shares of the company’s stock worth $1,322,000 after purchasing an additional 10,100 shares during the last quarter. TimesSquare Capital Management LLC raised its position in shares of Inspire Medical Systems by 41.4% during the 2nd quarter. TimesSquare Capital Management LLC now owns 513,265 shares of the company’s stock worth $31,130,000 after purchasing an additional 150,300 shares during the last quarter. Columbus Circle Investors raised its position in shares of Inspire Medical Systems by 171.7% during the 2nd quarter. Columbus Circle Investors now owns 635,211 shares of the company’s stock worth $38,526,000 after purchasing an additional 401,457 shares during the last quarter. Finally, Advisory Services Network LLC raised its position in shares of Inspire Medical Systems by 24.6% during the 2nd quarter. Advisory Services Network LLC now owns 1,395 shares of the company’s stock worth $85,000 after purchasing an additional 275 shares during the last quarter.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc, a medical technology company, focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA). It offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.

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