Inspire Medical Systems (NYSE:INSP) Shares Down 10.2% - Here's Why

Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report) shares fell 10.2% during trading on Monday . The stock traded as low as $181.05 and last traded at $181.73. 195,983 shares were traded during trading, a decline of 64% from the average session volume of 537,953 shares. The stock had previously closed at $202.48.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on INSP shares. Piper Sandler reissued an "overweight" rating and issued a $260.00 target price (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Truist Financial reiterated a "buy" rating and set a $240.00 target price (up from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Stifel Nicolaus reiterated a "hold" rating and issued a $200.00 price target (up previously from $170.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Finally, Robert W. Baird boosted their price target on Inspire Medical Systems from $240.00 to $252.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $233.58.

Inspire Medical Systems Stock Down 13.2 %

The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 164.25 and a beta of 1.32. The stock's fifty day moving average is $191.71 and its two-hundred day moving average is $184.02.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers grew its stake in shares of Inspire Medical Systems by 0.9% in the second quarter. Rhumbline Advisers now owns 35,861 shares of the company's stock valued at $4,799,000 after acquiring an additional 304 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Inspire Medical Systems during the 2nd quarter worth $53,000. Oppenheimer Asset Management Inc. raised its stake in Inspire Medical Systems by 26.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,768 shares of the company's stock valued at $1,441,000 after purchasing an additional 2,242 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Inspire Medical Systems during the second quarter worth about $1,084,000. Finally, Dimensional Fund Advisors LP grew its stake in Inspire Medical Systems by 79.7% during the second quarter. Dimensional Fund Advisors LP now owns 109,560 shares of the company's stock worth $14,663,000 after buying an additional 48,590 shares in the last quarter. Institutional investors and hedge funds 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.