Inspire Medical Systems (NYSE:INSP) Trading 4.7% Higher - Time to Buy?

Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report)'s stock price shot up 4.7% during mid-day trading on Monday . The company traded as high as $185.47 and last traded at $185.74. 150,496 shares were traded during mid-day trading, a decline of 75% from the average session volume of 596,365 shares. The stock had previously closed at $177.32.

Wall Street Analyst Weigh In

Several research firms recently commented on INSP. Piper Sandler reduced their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. KeyCorp reiterated an "overweight" rating and issued a $234.00 target price (down from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Bank of America upgraded shares of Inspire Medical Systems from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $220.00 to $255.00 in a research report on Wednesday, November 20th. Truist Financial dropped their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Finally, Robert W. Baird decreased their target price on shares of Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Inspire Medical Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $228.82.

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Inspire Medical Systems Price Performance

The company has a market cap of $5.58 billion, a PE ratio of 108.66, a price-to-earnings-growth ratio of 2.86 and a beta of 1.32. The company's 50 day simple moving average is $187.95 and its two-hundred day simple moving average is $193.23.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Insider Activity

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the sale, the chief technology officer now owns 10,424 shares of the company's stock, valued at $1,777,187.76. This trade represents a 5.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Randy Ban sold 25,584 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the sale, the insider now owns 7,259 shares in the company, valued at $1,332,026.50. The trade was a 77.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,225 shares of company stock valued at $4,806,530. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Inspire Medical Systems

Several institutional investors have recently modified their holdings of INSP. Creative Planning raised its position in shares of Inspire Medical Systems by 25.8% during the 3rd quarter. Creative Planning now owns 3,240 shares of the company's stock worth $684,000 after acquiring an additional 665 shares in the last quarter. Signaturefd LLC increased its stake in Inspire Medical Systems by 45.9% in the third quarter. Signaturefd LLC now owns 270 shares of the company's stock valued at $57,000 after purchasing an additional 85 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Inspire Medical Systems by 153.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,800 shares of the company's stock worth $1,646,000 after purchasing an additional 4,721 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Inspire Medical Systems during the 3rd quarter worth approximately $3,591,000. Finally, Pallas Capital Advisors LLC lifted its position in shares of Inspire Medical Systems by 29.9% during the 3rd quarter. Pallas Capital Advisors LLC now owns 3,804 shares of the company's stock worth $743,000 after buying an additional 876 shares during the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

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.