Inspire Medical Systems (NYSE:INSP) Cut to “Hold” at Truist Financial

Truist Financial cut shares of Inspire Medical Systems (NYSE:INSP) from a buy rating to a hold rating in a research report report published on Thursday, Marketbeat reports. Truist Financial currently has $96.00 price target on the stock.

Other research analysts also recently issued reports about the stock. Morgan Stanley reissued an “equal weight” rating and set a $130.00 price objective (up from $105.00) on shares of Inspire Medical Systems in a research report on Tuesday, December 2nd. Stifel Nicolaus set a $110.00 target price on shares of Inspire Medical Systems and gave the company a “buy” rating in a research note on Monday, November 24th. Zacks Research raised shares of Inspire Medical Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, October 27th. Robert W. Baird raised their price objective on shares of Inspire Medical Systems from $125.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th. Finally, Oppenheimer downgraded Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a report on Thursday. Nine analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $138.47.

Inspire Medical Systems Price Performance

INSP opened at $79.34 on Thursday. Inspire Medical Systems has a one year low of $70.77 and a one year high of $203.12. The business has a 50 day simple moving average of $106.07 and a two-hundred day simple moving average of $96.89. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 53.97, a PEG ratio of 7.96 and a beta of 0.72.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Monday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.53. The firm had revenue of $224.50 million for the quarter, compared to analysts’ expectations of $220.39 million. Inspire Medical Systems had a return on equity of 9.41% and a net margin of 5.05%.The business’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 earnings per share. As a group, sell-side analysts expect that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Shawn Mccormick sold 2,000 shares of the stock in a transaction on Friday, November 28th. The stock was sold at an average price of $127.48, for a total value of $254,960.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Inspire Medical Systems

A number of hedge funds have recently bought and sold shares of INSP. Dragoneer Investment Group LLC grew its position in Inspire Medical Systems by 81.4% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,354,411 shares of the company’s stock valued at $305,532,000 after purchasing an additional 1,056,808 shares during the last quarter. Wasatch Advisors LP raised its holdings in Inspire Medical Systems by 7.2% in the second quarter. Wasatch Advisors LP now owns 1,634,395 shares of the company’s stock worth $212,095,000 after buying an additional 110,288 shares during the last quarter. William Blair Investment Management LLC lifted its stake 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 worth $96,280,000 after buying an additional 528,404 shares in the last quarter. Deerfield Management Company L.P. grew its holdings in shares of Inspire Medical Systems by 648.4% during the third 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 during the last quarter. Finally, State Street Corp grew its holdings in shares of Inspire Medical Systems by 2.3% during the second quarter. State Street Corp now owns 1,030,902 shares of the company’s stock valued at $133,780,000 after buying an additional 22,843 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

Key Headlines Impacting Inspire Medical Systems

Here are the key news stories impacting Inspire Medical Systems this week:

• Positive Sentiment: Wells Fargo remains constructive, saying the company has long-term upside despite short-term reimbursement headwinds; the note provides some support that institutional investors view the issues as near-term. Read More.
• Positive Sentiment: Zacks argues investors should retain INSP, citing traction for the Inspire V device and management’s focus on balancing growth and near-term pressures — a counterpoint to the negative headlines. Read More.
• Neutral Sentiment: Truist downgraded INSP from Buy to Hold with a $96 price target, which still implies upside but signals reduced near-term conviction from that analyst. Read More.
• Neutral Sentiment: Oppenheimer lowered its rating from Outperform to Market Perform after the reimbursement concerns surfaced — another sign of cooling analyst enthusiasm even if not a full negative thesis. Read More.
• Negative Sentiment: CMS removed coverage for certain sleep-apnea therapy related to Inspire’s offering, a direct hit to expected reimbursement that materially increases near-term revenue risk and drove heavy selling pressure. Read More.
• Negative Sentiment: The Law Offices of Frank R. Cruz has opened an investigation into the company and board over disclosures and delays tied to the Inspire V launch, raising the possibility of shareholder litigation and related distraction/costs. Read More.
• Negative Sentiment: Mainstream coverage summarizes the sell-off and links it to the CMS decision, analyst downgrades, and litigation risk — broadening negative sentiment among retail and institutional holders. Read More.

About Inspire Medical Systems

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.