Inspire Medical Systems (NYSE:INSP) Trading Up 7.2% – Here’s What Happened

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) rose 7.2% during mid-day trading on Monday . The stock traded as high as $157.91 and last traded at $152.20. Approximately 115,446 shares traded hands during trading, a decline of 80% from the average daily volume of 587,470 shares. The stock had previously closed at $141.93.

Wall Street Analyst Weigh In

Several research firms have weighed in on INSP. Robert W. Baird lowered their target price on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. KeyCorp restated an “overweight” rating and set a $234.00 target price (down from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Stifel Nicolaus reduced their price target on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Wells Fargo & Company lowered their price target on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Finally, Morgan Stanley cut their price objective on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $226.70.

Inspire Medical Systems Stock Performance

The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 88.68, a P/E/G ratio of 2.86 and a beta of 1.39. The company has a fifty day simple moving average of $173.26 and a two-hundred day simple moving average of $186.81.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. As a group, analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Insider Activity

In related news, insider Randy Ban sold 25,584 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the transaction, the insider now directly owns 7,259 shares of the company’s stock, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total value of $99,395.67. Following the completion of the transaction, the chief technology officer now owns 10,424 shares in the company, valued at $1,777,187.76. The trade was a 5.30 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Inspire Medical Systems

A number of institutional investors and hedge funds have recently bought and sold shares of INSP. Smartleaf Asset Management LLC grew its stake in Inspire Medical Systems by 178.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 357 shares of the company’s stock worth $66,000 after buying an additional 229 shares during the period. Merit Financial Group LLC acquired a new position in shares of Inspire Medical Systems during the 4th quarter valued at $313,000. Public Employees Retirement System of Ohio boosted its position in Inspire Medical Systems by 9.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 36,361 shares of the company’s stock worth $7,674,000 after purchasing an additional 3,125 shares during the period. Jennison Associates LLC purchased a new stake in Inspire Medical Systems during the 4th quarter worth $8,821,000. Finally, Janney Montgomery Scott LLC increased its holdings in Inspire Medical Systems by 248.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 4,806 shares of the company’s stock valued at $891,000 after purchasing an additional 3,427 shares in the last quarter. Institutional investors and hedge funds 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.