Inspire Medical Systems (NYSE:INSP) Shares Gap Down – Should You Sell?

Inspire Medical Systems, Inc. (NYSE:INSP) shares gapped down before the market opened on Monday . The stock had previously closed at $187.77, but opened at $182.00. Inspire Medical Systems shares last traded at $180.51, with a volume of 130,518 shares.

Analyst Ratings Changes

A number of brokerages have commented on INSP. Leerink Partners increased their price objective on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research report on Tuesday, September 10th. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their price target for the company from $220.00 to $255.00 in a report on Wednesday, November 20th. Truist Financial restated a “buy” rating and set a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Robert W. Baird increased their target price on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $233.58.

Inspire Medical Systems Trading Down 3.4 %

The company has a market capitalization of $5.44 billion, a PE ratio of 169.58 and a beta of 1.31. The company’s 50 day moving average price is $192.36 and its 200-day moving average price is $180.08.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.54. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The business had revenue of $203.20 million for the quarter, compared to the consensus estimate of $197.59 million. During the same quarter last year, the firm posted ($0.29) EPS. The business’s revenue for the quarter was up 32.6% compared to the same quarter last year. As a group, analysts predict that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in INSP. SouthState Corp bought a new position in Inspire Medical Systems during the 2nd quarter valued at $27,000. True Wealth Design LLC acquired a new position in shares of Inspire Medical Systems in the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC grew its position in shares of Inspire Medical Systems by 1,158.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after buying an additional 139 shares during the last quarter. GAMMA Investing LLC boosted its stake in Inspire Medical Systems by 559.3% in the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after acquiring an additional 151 shares during the period. Finally, Quarry LP raised its position in shares of Inspire Medical Systems by 105.4% during the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after purchasing an additional 176 shares during the period. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

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.