Inspire Medical Systems (NYSE:INSP) Stock Price Down 5.1% – Time to Sell?

Inspire Medical Systems, Inc. (NYSE:INSP)’s stock price traded down 5.1% during trading on Wednesday . The stock traded as low as $163.30 and last traded at $163.97. 322,381 shares changed hands during trading, a decline of 44% from the average session volume of 577,838 shares. The stock had previously closed at $172.82.

Analysts Set New Price Targets

Several research firms have commented on INSP. Robert W. Baird cut their price target on 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. Morgan Stanley decreased their price target on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. KeyCorp reiterated an “overweight” rating and issued a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and raised their price objective for the company from $220.00 to $255.00 in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company dropped their price target on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $228.82.

Inspire Medical Systems Stock Performance

The business has a fifty day moving average price of $186.71 and a 200 day moving average price of $192.61. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of 94.22, a P/E/G ratio of 2.86 and a beta of 1.48.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, February 10th. The company reported $1.15 earnings per share 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%. On average, analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, 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 value of $4,694,664.00. Following the completion of the transaction, the insider now owns 7,259 shares in the company, valued at $1,332,026.50. This represents a 77.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the sale, the chief technology officer now owns 10,424 shares in the company, valued at $1,777,187.76. This represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,225 shares of company stock valued at $4,806,530 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Inspire Medical Systems

Hedge funds have recently bought and sold shares of the business. First Horizon Advisors Inc. grew its position in shares of Inspire Medical Systems by 885.7% during the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock worth $26,000 after buying an additional 124 shares in the last quarter. True Wealth Design LLC bought a new stake in shares of Inspire Medical Systems in the 3rd quarter worth about $30,000. Farther Finance Advisors LLC raised its stake in shares of Inspire Medical Systems by 1,158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after purchasing an additional 139 shares in the last quarter. Huntington National Bank lifted its position in shares of Inspire Medical Systems by 228.3% during the fourth quarter. Huntington National Bank now owns 174 shares of the company’s stock worth $32,000 after purchasing an additional 121 shares during the last quarter. Finally, Harbour Investments Inc. grew its stake in Inspire Medical Systems by 101.0% in the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock worth $37,000 after purchasing an additional 99 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.