Inspire Medical Systems (NYSE:INSP) Shares Down 3.9% – Here’s Why

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) traded down 3.9% during trading on Tuesday . The stock traded as low as $95.12 and last traded at $94.0950. 38,444 shares were traded during trading, a decline of 96% from the average session volume of 931,827 shares. The stock had previously closed at $97.93.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on INSP shares. Stifel Nicolaus set a $110.00 price target on shares of Inspire Medical Systems and gave the stock a “buy” rating in a research report on Monday, November 24th. Wolfe Research upgraded shares of Inspire Medical Systems from a “peer perform” rating to an “outperform” rating and set a $180.00 target price on the stock in a research report on Tuesday, November 25th. Jefferies Financial Group reissued a “hold” rating and set a $85.00 price target (down from $160.00) on shares of Inspire Medical Systems in a research note on Friday, October 24th. Robert W. Baird raised their price target on shares of Inspire Medical Systems from $125.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $130.00 price objective (up previously from $105.00) on shares of Inspire Medical Systems in a research report on Tuesday, December 2nd. Eleven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Inspire Medical Systems has a consensus rating of “Moderate Buy” and a consensus target price of $139.00.

Inspire Medical Systems Stock Performance

The stock’s 50-day moving average is $100.65 and its 200 day moving average is $102.63. The firm has a market cap of $2.78 billion, a P/E ratio of 65.15, a PEG ratio of 10.88 and a beta of 0.70.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Monday, November 3rd. The company reported $0.38 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.53. Inspire Medical Systems had a net margin of 5.05% and a return on equity of 9.41%. The firm had revenue of $224.50 million for the quarter, compared to the consensus estimate of $220.39 million. During the same period last year, the company posted $0.60 EPS. The business’s quarterly revenue was up 10.5% on a year-over-year basis. On average, research analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Insider Transactions at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 2,000 shares of the stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $127.48, for a total transaction of $254,960.00. Following the completion of the transaction, the director directly owned 26,046 shares of the company’s stock, valued at approximately $3,320,344.08. This represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.10% of the company’s stock.

Institutional Trading of Inspire Medical Systems

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dragoneer Investment Group LLC increased its stake in shares of Inspire Medical Systems by 81.4% during the second quarter. Dragoneer Investment Group LLC now owns 2,354,411 shares of the company’s stock worth $305,532,000 after purchasing an additional 1,056,808 shares during the period. Deerfield Management Company L.P. grew its holdings in Inspire Medical Systems by 648.4% in the 3rd quarter. Deerfield Management Company L.P. now owns 1,047,694 shares of the company’s stock valued at $77,739,000 after buying an additional 907,694 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Inspire Medical Systems by 214.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,112,925 shares of the company’s stock worth $177,267,000 after buying an additional 759,090 shares during the period. Balyasny Asset Management L.P. lifted its holdings in shares of Inspire Medical Systems by 16,504.3% during the third quarter. Balyasny Asset Management L.P. now owns 614,359 shares of the company’s stock worth $45,585,000 after buying an additional 610,659 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in shares of Inspire Medical Systems by 68.7% in the third quarter. William Blair Investment Management LLC now owns 1,297,573 shares of the company’s stock valued at $96,280,000 after acquiring an additional 528,404 shares during the period. Institutional investors own 94.91% of the company’s stock.

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.