Zacks Research Upgrades Inspire Medical Systems (NYSE:INSP) to Strong-Buy

Inspire Medical Systems (NYSE:INSP) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Several other research firms have also weighed in on INSP. JPMorgan Chase & Co. raised their target price on Inspire Medical Systems from $82.00 to $118.00 and gave the company a “neutral” rating in a report on Tuesday, December 16th. Royal Bank Of Canada lowered their price objective on Inspire Medical Systems from $90.00 to $68.00 and set a “sector perform” rating on the stock in a report on Thursday, February 12th. Stifel Nicolaus cut their price objective on Inspire Medical Systems from $95.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Truist Financial reduced their target price on Inspire Medical Systems from $96.00 to $70.00 and set a “hold” rating for the company in a report on Thursday, February 12th. Finally, Oppenheimer cut Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve 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 “Hold” and an average price target of $104.24.

Inspire Medical Systems Stock Up 0.1%

Shares of INSP opened at $52.20 on Monday. The company’s fifty day moving average is $68.06 and its 200-day moving average is $84.21. Inspire Medical Systems has a 12 month low of $50.50 and a 12 month high of $172.95. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 2.56 and a beta of 0.74.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data 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 analyst estimates 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 quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.15 EPS. As a group, research analysts predict that Inspire Medical Systems will post 2.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inspire Medical Systems

A number of institutional investors have recently made changes to their positions in INSP. Dragoneer Investment Group LLC boosted its stake 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 period. Wellington Management Group LLP bought a new position in Inspire Medical Systems in the 4th quarter worth approximately $203,929,000. Wasatch Advisors LP lifted its holdings in shares of Inspire Medical Systems by 7.2% during 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 holdings in shares of Inspire Medical Systems by 68.7% during 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 during the last quarter. Finally, Morgan Stanley boosted its position in shares of Inspire Medical Systems by 179.5% in the fourth quarter. Morgan Stanley now owns 1,259,762 shares of the company’s stock valued at $116,188,000 after acquiring an additional 809,121 shares during the period. 94.91% of the stock is currently owned by institutional investors.

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.