Inspire Medical Systems (NYSE:INSP) Shares Gap Down on Analyst Downgrade

Inspire Medical Systems, Inc. (NYSE:INSP)’s stock price gapped down prior to trading on Tuesday after Robert W. Baird lowered their price target on the stock from $252.00 to $248.00. The stock had previously closed at $180.99, but opened at $170.49. Robert W. Baird currently has an outperform rating on the stock. Inspire Medical Systems shares last traded at $176.04, with a volume of 233,297 shares traded.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company dropped their target price on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Morgan Stanley cut their target price on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating for the company in a research report on Tuesday. KeyCorp reiterated an “overweight” rating and issued a $234.00 price target (down from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Stifel Nicolaus cut their price objective on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $229.27.

Hedge Funds Weigh In On Inspire Medical Systems

A number of hedge funds have recently made changes to their positions in INSP. Creative Planning raised its stake in Inspire Medical Systems by 12.4% during the 2nd quarter. Creative Planning now owns 2,575 shares of the company’s stock valued at $345,000 after purchasing an additional 284 shares during the period. GAMMA Investing LLC grew its holdings in Inspire Medical Systems by 559.3% during the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after buying an additional 151 shares in the last quarter. CWM LLC raised its position in shares of Inspire Medical Systems by 550.5% during the third quarter. CWM LLC now owns 8,105 shares of the company’s stock valued at $1,711,000 after buying an additional 6,859 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Inspire Medical Systems in the third quarter worth $100,000. Finally, nVerses Capital LLC boosted its position in shares of Inspire Medical Systems by 18.8% during the third quarter. nVerses Capital LLC now owns 1,900 shares of the company’s stock worth $401,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Down 2.2 %

The company has a market capitalization of $5.30 billion, a PE ratio of 165.40 and a beta of 1.32. The company’s 50 day moving average is $189.57 and its two-hundred day moving average is $190.98.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. Analysts forecast that Inspire Medical Systems, Inc. will post 1.33 EPS for the current year.

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.