Inspire Medical Systems (NYSE:INSP) Stock Price Up 33% – What’s Next?

Inspire Medical Systems, Inc. (NYSE:INSP) shares traded up 33% during trading on Thursday . The stock traded as high as $70.52 and last traded at $78.8290. 1,108,412 shares changed hands during trading, a decline of 15% from the average session volume of 1,298,410 shares. The stock had previously closed at $59.25.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company set a $70.00 target price on Inspire Medical Systems and gave the company an “equal weight” rating in a research note on Thursday, February 12th. Morgan Stanley set a $60.00 price target on Inspire Medical Systems in a research note on Wednesday, February 18th. Robert W. Baird set a $74.00 target price on Inspire Medical Systems and gave the stock a “neutral” rating in a report on Thursday, February 12th. Oppenheimer lowered Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 22nd. Finally, KeyCorp reiterated a “sector weight” rating on shares of Inspire Medical Systems in a research report on Tuesday, November 4th. Five equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $104.82.

Inspire Medical Systems Trading Up 20.6%

The firm’s 50 day moving average price is $81.52 and its two-hundred day moving average price is $88.22. The company has a market capitalization of $2.04 billion, a P/E ratio of 14.62, a PEG ratio of 2.85 and a beta of 0.74.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Wednesday, February 11th. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.96. The business had revenue of $269.08 million during the quarter, compared to the consensus estimate of $264.02 million. Inspire Medical Systems had a net margin of 15.95% and a return on equity of 10.96%. Inspire Medical Systems’s revenue was up 12.2% on a year-over-year basis. During the same period last year, the business posted $1.15 EPS. Analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Inspire Medical Systems news, Director Shawn Mccormick sold 2,000 shares of Inspire Medical Systems stock in a transaction on Friday, November 28th. The shares were 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 $3,320,344.08. The trade was a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Inspire Medical Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Texas Permanent School Fund Corp raised its stake in shares of Inspire Medical Systems by 42.2% during the second quarter. Texas Permanent School Fund Corp now owns 40,042 shares of the company’s stock valued at $5,196,000 after acquiring an additional 11,892 shares during the last quarter. Y Intercept Hong Kong Ltd raised its position in Inspire Medical Systems by 553.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 99,049 shares of the company’s stock worth $7,349,000 after purchasing an additional 83,883 shares during the last quarter. CW Advisors LLC grew its position in shares of Inspire Medical Systems by 45.3% in the 2nd quarter. CW Advisors LLC now owns 49,960 shares of the company’s stock valued at $6,484,000 after buying an additional 15,576 shares during the last quarter. Capital Fund Management S.A. raised its position in shares of Inspire Medical Systems by 44.1% during the second quarter. Capital Fund Management S.A. now owns 68,663 shares of the company’s stock worth $8,910,000 after acquiring an additional 21,021 shares during the last quarter. Finally, Norges Bank bought a new stake in Inspire Medical Systems in the second quarter valued at approximately $31,066,000. Institutional investors own 94.91% of the company’s stock.

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.