Inspire Medical Systems (NYSE:INSP) Shares Down 5.1% - Here's What Happened

Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report) shares fell 5.1% during mid-day trading on Wednesday . The stock traded as low as $163.30 and last traded at $163.97. 322,381 shares were traded during trading, a decline of 44% from the average session volume of 577,838 shares. The stock had previously closed at $172.82.

Wall Street Analysts Forecast Growth

INSP has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their price objective on shares of Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating on the stock in a research note on Tuesday, January 21st. Piper Sandler cut their price objective on shares of Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Robert W. Baird dropped their price target on shares of Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 11th. Wells Fargo & Company dropped 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, Royal Bank of Canada reiterated an "outperform" rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Inspire Medical Systems presently has an average rating of "Moderate Buy" and a consensus price target of $228.82.

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Inspire Medical Systems Price Performance

The firm has a 50 day simple moving average of $185.65 and a two-hundred day simple moving average of $192.17. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 94.95, a price-to-earnings-growth ratio of 2.86 and a beta of 1.48.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. On average, sell-side analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO John Rondoni sold 583 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the transaction, the chief technology officer now owns 10,424 shares of the company's stock, valued at approximately $1,777,187.76. The trade was a 5.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Randy Ban sold 25,584 shares of the business's 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 $1,332,026.50. This trade represents a 77.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,225 shares of company stock valued at $4,806,530. Insiders own 4.10% of the company's stock.

Institutional Trading of Inspire Medical Systems

Institutional investors have recently modified their holdings of the business. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Inspire Medical Systems in the 3rd quarter worth approximately $1,929,000. Smartleaf Asset Management LLC raised its position in shares of Inspire Medical Systems by 178.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company's stock worth $66,000 after acquiring an additional 229 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Inspire Medical Systems by 39.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 110,580 shares of the company's stock valued at $23,337,000 after purchasing an additional 31,444 shares during the period. Merit Financial Group LLC bought a new stake in shares of Inspire Medical Systems during the 4th quarter valued at about $313,000. Finally, Public Employees Retirement System of Ohio boosted its position in shares of 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 valued at $7,674,000 after purchasing an additional 3,125 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.