Inspire Medical Systems (NYSE:INSP) Rating Lowered to Neutral at Bank of America

Inspire Medical Systems (NYSE:INSP) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. They presently have a $225.00 price objective on the stock, down from their prior price objective of $265.00. Bank of America‘s target price would suggest a potential downside of 8.49% from the stock’s current price.

INSP has been the subject of a number of other reports. Morgan Stanley started coverage on shares of Inspire Medical Systems in a research report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 target price for the company. Jefferies Financial Group started coverage on Inspire Medical Systems in a report on Friday, January 19th. They set a “buy” rating and a $245.00 target price on the stock. KeyCorp assumed coverage on Inspire Medical Systems in a report on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 price target for the company. Royal Bank of Canada assumed coverage on shares of Inspire Medical Systems in a research note on Friday, April 19th. They set an “outperform” rating and a $285.00 price objective on the stock. Finally, Mizuho reiterated a “buy” rating and issued a $250.00 target price on shares of Inspire Medical Systems in a research note on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $263.53.

Inspire Medical Systems Stock Down 2.0 %

Shares of NYSE:INSP opened at $245.87 on Wednesday. Inspire Medical Systems has a 52-week low of $123.27 and a 52-week high of $330.00. The stock has a market cap of $7.45 billion, a price-to-earnings ratio of -332.25 and a beta of 1.35. The business has a 50-day moving average price of $215.94 and a 200-day moving average price of $190.56.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.29. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The company had revenue of $164.01 million during the quarter, compared to analyst estimates of $161.41 million. During the same period last year, the firm posted ($0.53) EPS. Inspire Medical Systems’s revenue for the quarter was up 28.2% compared to the same quarter last year. As a group, equities analysts anticipate that Inspire Medical Systems will post -0.35 EPS for the current fiscal year.

Insider Activity at Inspire Medical Systems

In other news, insider Randy Ban sold 12,230 shares of Inspire Medical Systems stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $185.37, for a total value of $2,267,075.10. Following the sale, the insider now directly owns 3,029 shares of the company’s stock, valued at $561,485.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Inspire Medical Systems news, Director Jerry C. Griffin sold 554 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.53, for a total value of $107,215.62. Following the transaction, the director now directly owns 10,190 shares of the company’s stock, valued at approximately $1,972,070.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Randy Ban sold 12,230 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $185.37, for a total value of $2,267,075.10. Following the completion of the sale, the insider now owns 3,029 shares of the company’s stock, valued at $561,485.73. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,371 shares of company stock valued at $15,664,278. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Inspire Medical Systems

A number of institutional investors have recently added to or reduced their stakes in INSP. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Inspire Medical Systems during the 4th quarter worth $27,000. NBC Securities Inc. purchased a new position in Inspire Medical Systems during the third quarter worth about $34,000. RiverPark Advisors LLC purchased a new position in Inspire Medical Systems during the third quarter worth about $44,000. Headinvest LLC acquired a new position in Inspire Medical Systems in the 3rd quarter valued at about $48,000. Finally, Principal Securities Inc. purchased a new stake in shares of Inspire Medical Systems in the 4th quarter valued at approximately $54,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.

About Inspire Medical Systems

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.