Inspire Medical Systems (NASDAQ:INSP) Earns “Neutral” Rating from Bank of America

Bank of America reiterated their neutral rating on shares of Inspire Medical Systems (NASDAQ:INSP) in a research report released on Monday, The Fly reports. Bank of America currently has a $75.00 price target on the stock, up from their previous price target of $65.00.

Separately, Zacks Investment Research lowered Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Saturday, May 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $57.20.

INSP stock traded up $0.17 on Monday, reaching $67.33. 268,010 shares of the company traded hands, compared to its average volume of 334,023. Inspire Medical Systems has a one year low of $35.43 and a one year high of $69.71. The firm’s fifty day simple moving average is $58.40.

Inspire Medical Systems (NASDAQ:INSP) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.35) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.04. The company had revenue of $16.30 million for the quarter, compared to the consensus estimate of $17.79 million. The firm’s revenue was up 63.0% on a year-over-year basis.

In other Inspire Medical Systems news, Director Marilyn C. Nelson sold 25,000 shares of Inspire Medical Systems stock in a transaction on Monday, July 8th. The stock was sold at an average price of $66.20, for a total value of $1,655,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joyce Erony sold 191,192 shares of Inspire Medical Systems stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $66.98, for a total value of $12,806,040.16. The disclosure for this sale can be found here. In the last three months, insiders sold 473,266 shares of company stock valued at $28,674,342.

Several institutional investors have recently bought and sold shares of INSP. William Blair Investment Management LLC increased its holdings in shares of Inspire Medical Systems by 416.4% in the 1st quarter. William Blair Investment Management LLC now owns 1,096,095 shares of the company’s stock worth $62,236,000 after purchasing an additional 883,826 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Inspire Medical Systems by 227.2% in the 4th quarter. Lord Abbett & CO. LLC now owns 780,357 shares of the company’s stock worth $32,970,000 after buying an additional 541,844 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Inspire Medical Systems by 47.5% in the 4th quarter. BlackRock Inc. now owns 805,471 shares of the company’s stock worth $34,031,000 after buying an additional 259,453 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in shares of Inspire Medical Systems by 91.1% in the 1st quarter. OppenheimerFunds Inc. now owns 528,999 shares of the company’s stock worth $30,037,000 after buying an additional 252,178 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Inspire Medical Systems by 326.5% in the 4th quarter. Millennium Management LLC now owns 273,079 shares of the company’s stock worth $11,538,000 after buying an additional 209,048 shares during the last quarter.

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). It offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.

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