Inspire Medical Systems (NYSE:INSP) Stock Price Up 4.9%

Inspire Medical Systems, Inc. (NYSE:INSP) shares rose 4.9% on Friday . The stock traded as high as $182.15 and last traded at $180.89. Approximately 4,127 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 238,380 shares. The stock had previously closed at $172.38.

Several research analysts recently commented on INSP shares. Piper Sandler boosted their price objective on shares of Inspire Medical Systems from $252.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 5th. Zacks Investment Research lowered shares of Inspire Medical Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, April 28th. SVB Leerink restated a “buy” rating on shares of Inspire Medical Systems in a research note on Tuesday, May 25th. Lake Street Capital upped their price target on shares of Inspire Medical Systems from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, May 5th. Finally, Robert W. Baird restated a “buy” rating on shares of Inspire Medical Systems in a research note on Sunday, April 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Inspire Medical Systems has an average rating of “Buy” and a consensus target price of $180.09.

The firm has a market cap of $4.87 billion, a PE ratio of -83.71 and a beta of 1.66. The company has a 50 day simple moving average of $200.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 12.84 and a current ratio of 13.43.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Tuesday, May 4th. The company reported ($0.60) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.66) by $0.06. The firm had revenue of $40.30 million for the quarter, compared to analyst estimates of $49.10 million. Inspire Medical Systems had a negative net margin of 42.54% and a negative return on equity of 24.99%. The business’s quarterly revenue was up 89.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.67) earnings per share. As a group, analysts anticipate that Inspire Medical Systems, Inc. will post -2.17 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Total Clarity Wealth Management Inc. purchased a new stake in Inspire Medical Systems during the first quarter worth $25,000. Baillie Gifford & Co. purchased a new stake in Inspire Medical Systems during the fourth quarter worth $37,000. Marshall Wace North America L.P. purchased a new stake in Inspire Medical Systems during the first quarter worth $45,000. NEXT Financial Group Inc boosted its holdings in Inspire Medical Systems by 210.3% during the fourth quarter. NEXT Financial Group Inc now owns 391 shares of the company’s stock worth $74,000 after buying an additional 265 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Inspire Medical Systems during the fourth quarter worth $77,000. 92.81% of the stock is currently owned by hedge funds and other institutional investors.

About Inspire Medical Systems (NYSE:INSP)

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 Europe. It offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.

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