Inspire Medical Systems (NYSE:INSP) Shares Down 3.6%

Inspire Medical Systems, Inc. (NYSE:INSP)’s share price dropped 3.6% during trading on Monday . The stock traded as low as $220.62 and last traded at $220.90. Approximately 170,298 shares traded hands during trading, a decline of 68% from the average daily volume of 531,891 shares. The stock had previously closed at $229.22.

Wall Street Analysts Forecast Growth

INSP has been the subject of several recent research reports. Royal Bank of Canada initiated coverage on shares of Inspire Medical Systems in a research report on Friday. They set an “outperform” rating and a $285.00 target price for the company. KeyCorp initiated coverage on shares of Inspire Medical Systems in a research report on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 price objective for the company. Mizuho restated a “buy” rating and issued a $250.00 price objective on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. Stifel Nicolaus restated a “hold” rating and issued a $210.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, January 2nd. Finally, Truist Financial restated a “buy” rating and issued a $280.00 price objective on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Inspire Medical Systems currently has an average rating of “Moderate Buy” and a consensus price target of $272.20.

Inspire Medical Systems Trading Down 2.2 %

The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of -301.20 and a beta of 1.37. The company’s 50 day moving average is $203.53 and its 200-day moving average is $184.00.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.53. The firm had revenue of $192.51 million for the quarter, compared to analysts’ expectations of $186.75 million. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The business’s revenue was up 39.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 EPS. Research analysts expect that Inspire Medical Systems, Inc. will post -0.35 EPS for the current year.

Insider Buying and Selling at Inspire Medical Systems

In other news, CFO Richard Buchholz sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the transaction, the chief financial officer now directly owns 28,271 shares of the company’s stock, valued at $6,503,178.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Richard Buchholz sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the transaction, the chief financial officer now directly owns 28,271 shares of the company’s stock, valued at $6,503,178.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy P. Herbert sold 40,000 shares of Inspire Medical Systems stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $205.09, for a total transaction of $8,203,600.00. Following the completion of the transaction, the chief executive officer now directly owns 63,658 shares in the company, valued at $13,055,619.22. The disclosure for this sale can be found here. Insiders have sold a total of 76,371 shares of company stock valued at $15,664,278 in the last three months. 4.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its stake in Inspire Medical Systems by 130.1% in the 3rd quarter. FMR LLC now owns 2,471,464 shares of the company’s stock worth $490,437,000 after purchasing an additional 1,397,510 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of Inspire Medical Systems by 6,846.9% during the 4th quarter. Baillie Gifford & Co. now owns 1,229,879 shares of the company’s stock valued at $250,194,000 after buying an additional 1,212,175 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Inspire Medical Systems by 46.4% during the 4th quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock valued at $290,959,000 after buying an additional 453,294 shares in the last quarter. Frontier Capital Management Co. LLC raised its position in shares of Inspire Medical Systems by 105.2% during the 4th quarter. Frontier Capital Management Co. LLC now owns 742,046 shares of the company’s stock valued at $150,954,000 after buying an additional 380,362 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Inspire Medical Systems by 648.2% during the 4th quarter. Jennison Associates LLC now owns 304,886 shares of the company’s stock valued at $62,023,000 after buying an additional 264,139 shares in the last quarter. 94.91% of the stock is owned by institutional investors.

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) in the United States and internationally. The company offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.