Inspire Medical Systems (NYSE:INSP) Stock Price Down 8.3% – Should You Sell?

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) traded down 8.3% during trading on Tuesday . The company traded as low as $54.75 and last traded at $52.2680. 125,386 shares were traded during trading, a decline of 90% from the average session volume of 1,197,562 shares. The stock had previously closed at $56.97.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on INSP shares. Wolfe Research lowered shares of Inspire Medical Systems from an “outperform” rating to a “peer perform” rating in a research report on Friday, February 13th. Piper Sandler decreased their price target on Inspire Medical Systems from $165.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, February 12th. Truist Financial lowered their price target on Inspire Medical Systems from $70.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, April 15th. Jefferies Financial Group dropped their price objective on Inspire Medical Systems from $81.00 to $66.00 and set a “hold” rating for the company in a research note on Thursday, February 12th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Inspire Medical Systems in a report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $101.41.

Inspire Medical Systems Price Performance

The firm’s 50-day moving average price is $57.32 and its 200 day moving average price is $80.56. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 2.68 and a beta of 0.86.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.96. Inspire Medical Systems had a return on equity of 10.96% and a net margin of 15.95%.The firm had revenue of $269.08 million during the quarter, compared to the consensus estimate of $264.02 million. During the same period in the previous year, the firm posted $1.15 EPS. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, analysts predict that Inspire Medical Systems, Inc. will post 1.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inspire Medical Systems

A number of institutional investors have recently made changes to their positions in INSP. Y Intercept Hong Kong Ltd raised its stake in Inspire Medical Systems by 553.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 99,049 shares of the company’s stock valued at $7,349,000 after purchasing an additional 83,883 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Inspire Medical Systems by 262.0% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 25,424 shares of the company’s stock valued at $1,886,000 after purchasing an additional 18,400 shares in the last quarter. Regal Partners Ltd acquired a new stake in shares of Inspire Medical Systems during the 3rd quarter worth about $7,547,000. Quantbot Technologies LP purchased a new stake in shares of Inspire Medical Systems during the third quarter worth about $3,047,000. Finally, William Blair Investment Management LLC grew its holdings in shares of Inspire Medical Systems by 68.7% during the third quarter. William Blair Investment Management LLC now owns 1,297,573 shares of the company’s stock worth $96,280,000 after buying an additional 528,404 shares in the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

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.