Inspire Medical Systems (NYSE:INSP) Stock Price Down 5.9% – Time to Sell?
by Tristan Rich · The Markets DailyInspire Medical Systems, Inc. (NYSE:INSP – Get Free Report) dropped 5.9% during mid-day trading on Tuesday . The stock traded as low as $56.43 and last traded at $55.3720. Approximately 617,189 shares traded hands during trading, a decline of 52% from the average daily volume of 1,297,001 shares. The stock had previously closed at $58.87.
Analyst Ratings Changes
A number of research firms have issued reports on INSP. Robert W. Baird set a $74.00 price objective on Inspire Medical Systems and gave the stock a “neutral” rating in a report on Thursday, February 12th. Wolfe Research lowered shares of Inspire Medical Systems from an “outperform” rating to a “peer perform” rating in a research note on Friday, February 13th. Wells Fargo & Company set a $70.00 price target on shares of Inspire Medical Systems and gave the company an “equal weight” rating in a research report on Thursday, February 12th. Royal Bank Of Canada cut their price objective on shares of Inspire Medical Systems from $90.00 to $68.00 and set a “sector perform” rating on the stock in a report on Thursday, February 12th. Finally, Stifel Nicolaus lowered their target price on shares of Inspire Medical Systems from $95.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Five analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $104.24.
Check Out Our Latest Stock Analysis on Inspire Medical Systems
Inspire Medical Systems Trading Down 1.9%
The stock’s 50 day moving average is $71.45 and its 200-day moving average is $85.26. The company has a market cap of $1.58 billion, a P/E ratio of 11.11, a PEG ratio of 2.73 and a beta of 0.74.
Inspire Medical Systems (NYSE:INSP – Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.96. The business had revenue of $269.08 million during the quarter, compared to analyst estimates of $264.02 million. Inspire Medical Systems had a net margin of 15.95% and a return on equity of 10.96%. Inspire Medical Systems’s revenue was up 12.2% compared to the same quarter last year. During the same period last year, the business earned $1.15 EPS. As a group, sell-side analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.
Institutional Investors Weigh In On Inspire Medical Systems
Several large investors have recently bought and sold shares of the business. Texas Permanent School Fund Corp increased its holdings in Inspire Medical Systems by 42.2% during the second quarter. Texas Permanent School Fund Corp now owns 40,042 shares of the company’s stock valued at $5,196,000 after buying an additional 11,892 shares during the last quarter. Y Intercept Hong Kong Ltd grew its position in shares of Inspire Medical Systems by 553.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 99,049 shares of the company’s stock valued at $7,349,000 after acquiring an additional 83,883 shares during the period. CW Advisors LLC increased its stake in shares of Inspire Medical Systems by 45.3% in the 2nd quarter. CW Advisors LLC now owns 49,960 shares of the company’s stock worth $6,484,000 after purchasing an additional 15,576 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Inspire Medical Systems by 262.0% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 25,424 shares of the company’s stock worth $1,886,000 after purchasing an additional 18,400 shares in the last quarter. Finally, Capital Fund Management S.A. raised its holdings in Inspire Medical Systems by 44.1% in the 2nd quarter. Capital Fund Management S.A. now owns 68,663 shares of the company’s stock worth $8,910,000 after purchasing an additional 21,021 shares during the period. 94.91% of the stock is currently owned by institutional investors.
Inspire Medical Systems Company Profile
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.