Inspire Medical Systems (NYSE:INSP) Hits New 52-Week Low – Here’s Why

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) hit a new 52-week low on Tuesday . The stock traded as low as $64.46 and last traded at $66.39, with a volume of 1169579 shares trading hands. The stock had previously closed at $65.70.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on INSP shares. KeyCorp restated a “sector weight” rating on shares of Inspire Medical Systems in a report on Tuesday, November 4th. UBS Group set a $96.00 price target on shares of Inspire Medical Systems in a report on Thursday, January 22nd. Jefferies Financial Group restated a “hold” rating and issued a $85.00 price objective (down previously from $160.00) on shares of Inspire Medical Systems in a research report on Friday, October 24th. Truist Financial lowered shares of Inspire Medical Systems from a “buy” rating to a “hold” rating and set a $96.00 target price for the company. in a report on Thursday, January 22nd. Finally, Robert W. Baird raised their target price on Inspire Medical Systems from $125.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $133.47.

Inspire Medical Systems Stock Performance

The firm has a market capitalization of $1.93 billion, a PE ratio of 45.16, a P/E/G ratio of 6.63 and a beta of 0.74. The stock’s 50-day simple moving average is $98.68 and its 200-day simple moving average is $92.29.

Insider Transactions at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 2,000 shares of the stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $127.48, for a total value 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. This represents a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in INSP. Sectoral Asset Management Inc. purchased a new position in shares of Inspire Medical Systems in the 4th quarter valued at approximately $664,000. Hantz Financial Services Inc. raised its holdings in Inspire Medical Systems by 194.0% in the fourth quarter. Hantz Financial Services Inc. now owns 685 shares of the company’s stock worth $63,000 after purchasing an additional 452 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in Inspire Medical Systems in the fourth quarter worth $28,369,000. Global Retirement Partners LLC lifted its position in Inspire Medical Systems by 14,910.0% during the fourth quarter. Global Retirement Partners LLC now owns 3,002 shares of the company’s stock valued at $277,000 after buying an additional 2,982 shares during the period. Finally, Leonteq Securities AG bought a new stake in shares of Inspire Medical Systems during the 4th quarter valued at $732,000. Hedge funds and other 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.