Wolfe Research started coverage on shares of Inspire Medical Systems (NYSE:INSP – Get Rating) in a report released on Tuesday, Marketbeat.com reports. The brokerage issued a market perform rating and a $270.00 price objective on the stock.
Other research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Inspire Medical Systems from a buy rating to a hold rating in a report on Wednesday, January 26th. Bank of America started coverage on shares of Inspire Medical Systems in a research report on Wednesday, March 2nd. They set a buy rating for the company. Finally, SVB Leerink increased their target price on Inspire Medical Systems from $270.00 to $273.00 and gave the stock an outperform rating in a report on Wednesday, February 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $288.00.
INSP opened at $254.45 on Tuesday. Inspire Medical Systems has a twelve month low of $159.18 and a twelve month high of $286.29. The company has a 50-day simple moving average of $234.47 and a 200 day simple moving average of $237.96. The company has a quick ratio of 6.08, a current ratio of 6.50 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $7.01 billion, a price-to-earnings ratio of -164.16 and a beta of 1.57.
Inspire Medical Systems (NYSE:INSP – Get Rating) last posted its quarterly earnings data on Tuesday, February 8th. The company reported ($0.09) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.44) by $0.35. Inspire Medical Systems had a negative net margin of 18.01% and a negative return on equity of 18.84%. The business had revenue of $78.40 million during the quarter, compared to analysts’ expectations of $75.60 million. During the same quarter in the prior year, the business posted ($0.28) earnings per share. Inspire Medical Systems’s revenue was up 70.4% compared to the same quarter last year. Sell-side analysts anticipate that Inspire Medical Systems will post -1.95 EPS for the current fiscal year.
In other Inspire Medical Systems news, Director Marilyn C. Nelson sold 2,323 shares of the firm’s stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $250.00, for a total transaction of $580,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Buchholz sold 15,000 shares of Inspire Medical Systems stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $258.67, for a total value of $3,880,050.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,143 shares of company stock worth $10,173,826. Insiders own 5.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Leverty Financial Group LLC purchased a new position in Inspire Medical Systems in the fourth quarter worth $25,000. Total Clarity Wealth Management Inc. acquired a new position in Inspire Medical Systems during the third quarter valued at $28,000. Assetmark Inc. acquired a new position in Inspire Medical Systems during the third quarter valued at $33,000. Rockefeller Capital Management L.P. lifted its position in Inspire Medical Systems by 80.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 144 shares of the company’s stock valued at $33,000 after purchasing an additional 64 shares during the period. Finally, Covestor Ltd acquired a new position in shares of Inspire Medical Systems in the fourth quarter worth about $35,000. 93.09% of the stock is owned by institutional investors.
About Inspire Medical Systems (Get Rating)
Inspire Medical Systems, Inc engages in the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea. It offers inspire therapy, which consists of a remote control and implantable components that includes pressure sensing lead, a neurostimulator, and a stimulation lead.
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