Inspire Medical Systems (NYSE:INSP) Given Buy Rating at Mizuho

Mizuho reaffirmed their buy rating on shares of Inspire Medical Systems (NYSE:INSP) in a research note released on Wednesday, Benzinga reports. Mizuho currently has a $250.00 price target on the stock.

A number of other research firms also recently issued reports on INSP. Wells Fargo & Company downgraded Inspire Medical Systems from an overweight rating to an equal weight rating and decreased their price objective for the stock from $245.00 to $187.00 in a report on Wednesday, December 13th. Stifel Nicolaus reiterated a hold rating and set a $210.00 price objective on shares of Inspire Medical Systems in a report on Tuesday, January 2nd. KeyCorp began coverage on Inspire Medical Systems in a report on Tuesday, February 6th. They set an overweight rating and a $278.00 price objective for the company. Morgan Stanley began coverage on Inspire Medical Systems in a report on Tuesday, March 19th. They set an overweight rating and a $250.00 price objective for the company. Finally, Truist Financial reiterated a buy rating and set a $280.00 target price on shares of Inspire Medical Systems in a research note on Wednesday, March 20th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $271.29.

Inspire Medical Systems Price Performance

NYSE INSP opened at $213.36 on Wednesday. The firm has a market cap of $6.46 billion, a P/E ratio of -288.32 and a beta of 1.35. The stock’s 50-day moving average is $198.23 and its 200-day moving average is $181.19. Inspire Medical Systems has a one year low of $123.27 and a one year high of $330.00.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.53. The company had revenue of $192.51 million for the quarter, compared to analyst estimates of $186.75 million. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. Inspire Medical Systems’s revenue was up 39.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 earnings per share. Equities analysts anticipate that Inspire Medical Systems will post -0.35 EPS for the current year.

Insider Transactions at Inspire Medical Systems

In other news, Director Jerry C. Griffin sold 554 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $197.81, for a total transaction of $109,586.74. Following the completion of the transaction, the director now owns 10,636 shares of the company’s stock, valued at approximately $2,103,907.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CTO John Rondoni sold 4,387 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $194.40, for a total transaction of $852,832.80. Following the completion of the transaction, the chief technology officer now owns 11,270 shares of the company’s stock, valued at approximately $2,190,888. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jerry C. Griffin sold 554 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $197.81, for a total value of $109,586.74. Following the transaction, the director now directly owns 10,636 shares of the company’s stock, valued at approximately $2,103,907.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,339 shares of company stock valued at $4,003,381. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Inspire Medical Systems

Hedge funds and other institutional investors have recently bought and sold shares of the company. Resurgent Financial Advisors LLC bought a new stake in Inspire Medical Systems during the 2nd quarter worth $25,000. McGlone Suttner Wealth Management Inc. bought a new stake in Inspire Medical Systems during the 4th quarter worth $27,000. Altshuler Shaham Ltd bought a new stake in Inspire Medical Systems during the 4th quarter worth $29,000. NBC Securities Inc. bought a new stake in Inspire Medical Systems during the 3rd quarter worth $34,000. Finally, Parkside Financial Bank & Trust bought a new stake in shares of Inspire Medical Systems in the 1st quarter valued at about $37,000. Institutional investors own 94.91% of the company’s stock.

About Inspire Medical Systems

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.