Inspire Medical Systems (NYSE:INSP) Trading Down 10.2% – Time to Sell?

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) fell 10.2% during trading on Monday . The stock traded as low as $181.05 and last traded at $181.73. 195,983 shares changed hands during trading, a decline of 64% from the average session volume of 537,953 shares. The stock had previously closed at $202.48.

Analyst Ratings Changes

INSP has been the topic of several recent research reports. Piper Sandler restated an “overweight” rating and issued a $260.00 price target (up previously from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their target price for the company from $220.00 to $255.00 in a report on Wednesday, November 20th. Wells Fargo & Company lifted their price target on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $200.00 price objective (up from $170.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $233.58.

Inspire Medical Systems Trading Down 3.3 %

The business’s 50-day simple moving average is $190.78 and its 200-day simple moving average is $184.55. The company has a market cap of $5.09 billion, a PE ratio of 158.61 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.54. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The firm had revenue of $203.20 million during the quarter, compared to analysts’ expectations of $197.59 million. During the same quarter last year, the firm earned ($0.29) earnings per share. The business’s revenue for the quarter was up 32.6% on a year-over-year basis. On average, research analysts predict that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. True Wealth Design LLC acquired a new position in Inspire Medical Systems during the third quarter worth $30,000. Farther Finance Advisors LLC raised its stake in shares of Inspire Medical Systems by 1,158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after acquiring an additional 139 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Inspire Medical Systems by 559.3% in the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock worth $38,000 after purchasing an additional 151 shares during the last quarter. Quarry LP boosted its position in Inspire Medical Systems by 105.4% during the second quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after purchasing an additional 176 shares during the period. Finally, Daiwa Securities Group Inc. bought a new position in shares of Inspire Medical Systems in the second quarter valued at approximately $53,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

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) 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.