Inspire Medical Systems’ (INSP) “Buy” Rating Reiterated at Mizuho

Mizuho reissued their buy rating on shares of Inspire Medical Systems (NYSE:INSP) in a research note released on Wednesday morning, Benzinga reports. The firm currently has a $250.00 target price on the stock.

INSP has been the topic of several other reports. 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. KeyCorp started 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 on the stock. Wells Fargo & Company cut shares of Inspire Medical Systems from an overweight rating to an equal weight rating and decreased their price objective for the stock from $245.00 to $187.00 in a research report on Wednesday, December 13th. 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, Morgan Stanley assumed coverage on shares of Inspire Medical Systems in a research report on Tuesday, March 19th. They issued an overweight rating and a $250.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $271.29.

Inspire Medical Systems Stock Up 0.6 %

Shares of INSP opened at $214.79 on Wednesday. The business’s 50-day moving average price is $198.94 and its 200-day moving average price is $181.37. Inspire Medical Systems has a twelve month low of $123.27 and a twelve month high of $330.00. The stock has a market cap of $6.51 billion, a PE ratio of -290.26 and a beta of 1.35.

Inspire Medical Systems (NYSE:INSP) last announced 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. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The firm had revenue of $192.51 million for the quarter, compared to analysts’ expectations of $186.75 million. During the same period in the prior year, the business posted $0.10 earnings per share. The company’s revenue was up 39.6% on a year-over-year basis. Analysts expect that Inspire Medical Systems will post -0.35 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Randy Ban sold 12,230 shares of Inspire Medical Systems stock in a transaction dated 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 completion of the sale, the insider now directly owns 3,029 shares in the company, valued at approximately $561,485.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Randy Ban sold 12,230 shares of Inspire Medical Systems stock in a transaction dated 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 completion of the sale, the insider now directly owns 3,029 shares in the company, valued at approximately $561,485.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jerry C. Griffin sold 554 shares of Inspire Medical Systems stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.53, for a total value of $107,215.62. Following the completion of the sale, the director now owns 10,190 shares of the company’s stock, valued at $1,972,070.70. The disclosure for this sale can be found here. Insiders sold 21,339 shares of company stock worth $4,003,381 over the last three months. 4.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Inspire Medical Systems

Several large investors have recently bought and sold shares of the business. Resurgent Financial Advisors LLC purchased a new position in Inspire Medical Systems in the second quarter worth about $25,000. McGlone Suttner Wealth Management Inc. purchased a new position in Inspire Medical Systems in the fourth quarter worth about $27,000. Altshuler Shaham Ltd purchased a new position in Inspire Medical Systems in the fourth quarter worth about $29,000. NBC Securities Inc. purchased a new position in Inspire Medical Systems in the third quarter worth about $34,000. Finally, Parkside Financial Bank & Trust purchased a new position in Inspire Medical Systems in the first quarter worth about $37,000. 94.91% of the stock is currently owned by institutional investors.

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.