Inspire Medical Systems (NYSE:INSP) Shares Gap Up to $196.88

Inspire Medical Systems, Inc. (NYSE:INSP) gapped up prior to trading on Monday . The stock had previously closed at $196.88, but opened at $212.10. Inspire Medical Systems shares last traded at $222.80, with a volume of 193,123 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Bank of America reduced their target price on shares of Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating on the stock in a research report on Monday, June 3rd. Stifel Nicolaus lowered their target price on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research note on Wednesday, August 7th. Truist Financial dropped their price objective on Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Finally, Morgan Stanley dropped their target price on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $211.92.

Inspire Medical Systems Trading Up 8.3 %

The company has a market cap of $6.36 billion, a price-to-earnings ratio of -405.09 and a beta of 1.33. The firm’s fifty day moving average price is $161.87 and its 200-day moving average price is $180.22.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of ($0.14) by $0.46. The business had revenue of $195.89 million for the quarter, compared to analysts’ expectations of $189.08 million. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The firm’s revenue was up 29.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.41) EPS. As a group, research analysts anticipate that Inspire Medical Systems, Inc. will post 0.75 EPS for the current year.

Insider Activity

In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the transaction, the insider now owns 3,056 shares of the company’s stock, valued at $576,208.80. The sale was disclosed in a document filed with the SEC, which is available through this link. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. SouthState Corp bought a new position in Inspire Medical Systems during the 2nd quarter worth $27,000. Principal Securities Inc. bought a new position in shares of Inspire Medical Systems in the fourth quarter worth $54,000. Quarry LP raised its stake in Inspire Medical Systems by 105.4% in the second quarter. Quarry LP now owns 343 shares of the company’s stock valued at $46,000 after purchasing an additional 176 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in Inspire Medical Systems during the second quarter worth about $53,000. Finally, RiverPark Advisors LLC grew its stake in Inspire Medical Systems by 360.1% during the first quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock worth $166,000 after buying an additional 605 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

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.