Inspire Medical Systems (NYSE:INSP) Cut to “Hold” at Truist Financial

by · The Cerbat Gem

Inspire Medical Systems (NYSE:INSP – Get Free Report) was downgraded by investment analysts at Truist Financial from a “buy” rating to a “hold” rating in a research note issued on Thursday. They presently have a $96.00 target price on the stock. Truist Financial’s target price would suggest a potential upside of 16.14% from the stock’s previous close.

Several other equities analysts have also commented on INSP. KeyCorp restated a “sector weight” rating on shares of Inspire Medical Systems in a report on Tuesday, November 4th. JPMorgan Chase & Co. raised 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. Oppenheimer cut shares of Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a report on Thursday. Mizuho lifted their price objective on shares of Inspire Medical Systems from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Finally, Evercore ISI cut their price target on Inspire Medical Systems from $150.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, October 7th. Nine investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $138.18.

Check Out Our Latest Stock Report on INSP

Inspire Medical Systems Price Performance

Shares of INSP stock traded down $13.54 during trading hours on Thursday, hitting $82.66. The stock had a trading volume of 3,167,047 shares, compared to its average volume of 1,089,761. The stock’s 50-day moving average price is $106.33 and its two-hundred day moving average price is $97.59. Inspire Medical Systems has a one year low of $70.77 and a one year high of $203.12. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 56.24, a PEG ratio of 9.47 and a beta of 0.72.

Inspire Medical Systems (NYSE:INSP – Get Free Report) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.38 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.53. Inspire Medical Systems had a net margin of 5.05% and a return on equity of 9.41%. The company had revenue of $224.50 million during the quarter, compared to analyst estimates of $220.39 million. During the same period in the previous year, the firm earned $0.60 earnings per share. Inspire Medical Systems’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, equities research analysts predict that Inspire Medical Systems will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Shawn Mccormick sold 2,000 shares of Inspire Medical Systems stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $127.48, for a total value of $254,960.00. Following the completion of the sale, the director directly owned 26,046 shares in the company, valued at $3,320,344.08. This trade represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INSP. Farther Finance Advisors LLC lifted its holdings in shares of Inspire Medical Systems by 14.6% during the second quarter. Farther Finance Advisors LLC now owns 603 shares of the company’s stock worth $78,000 after purchasing an additional 77 shares during the period. New York State Teachers Retirement System grew its holdings in shares of Inspire Medical Systems by 0.5% during the second quarter. New York State Teachers Retirement System now owns 21,490 shares of the company’s stock valued at $2,789,000 after buying an additional 100 shares during the last quarter. Xponance Inc. raised its holdings in shares of Inspire Medical Systems by 2.9% in the third quarter. Xponance Inc. now owns 4,177 shares of the company’s stock valued at $310,000 after purchasing an additional 116 shares during the last quarter. Amalgamated Bank grew its position in Inspire Medical Systems by 1.3% in the 2nd quarter. Amalgamated Bank now owns 9,567 shares of the company’s stock worth $1,242,000 after purchasing an additional 125 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Inspire Medical Systems by 38.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock worth $60,000 after buying an additional 130 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Company Profile

(Get Free Report)

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.

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