Inspire Medical Systems (NYSE:INSP) Shares Gap Up to $221.63

Inspire Medical Systems, Inc. (NYSE:INSP)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $221.63, but opened at $227.99. Inspire Medical Systems shares last traded at $244.54, with a volume of 1,396,816 shares.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Inspire Medical Systems in a research report on Friday, January 19th. They issued a “buy” rating and a $245.00 price target for the company. KeyCorp assumed coverage on Inspire Medical Systems in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 price objective on the stock. Morgan Stanley assumed coverage on Inspire Medical Systems in a research note on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 price objective on the stock. Mizuho reiterated a “buy” rating and issued a $250.00 price objective on shares of Inspire Medical Systems in a research note on Wednesday, March 27th. Finally, Truist Financial reiterated a “buy” rating and issued a $280.00 price objective on shares of Inspire Medical Systems in a research note on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $271.29.

Inspire Medical Systems Stock Performance

The company has a market capitalization of $7.42 billion, a P/E ratio of -325.99 and a beta of 1.37. The firm has a 50 day moving average price of $201.23 and a two-hundred day moving average price of $182.94.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.53. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The company had revenue of $192.51 million for the quarter, compared to analyst estimates of $186.75 million. During the same period in the prior year, the company posted $0.10 EPS. The company’s revenue was up 39.6% compared to the same quarter last year. On average, equities analysts expect that Inspire Medical Systems, Inc. will post -0.35 earnings per share for the current year.

Insider Transactions at Inspire Medical Systems

In other news, insider Randy Ban sold 3,060 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $182.01, for a total value of $556,950.60. Following the transaction, the insider now directly owns 3,029 shares of the company’s stock, valued at approximately $551,308.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Inspire Medical Systems news, insider Randy Ban sold 3,060 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total transaction of $556,950.60. Following the completion of the sale, the insider now owns 3,029 shares in the company, valued at approximately $551,308.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jerry C. Griffin sold 554 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $198.05, for a total transaction of $109,719.70. Following the sale, the director now owns 9,744 shares of the company’s stock, valued at approximately $1,929,799.20. The disclosure for this sale can be found here. Insiders have sold 61,371 shares of company stock valued at $12,213,828 in the last three months. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of Inspire Medical Systems

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Inspire Medical Systems by 4.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,863,693 shares of the company’s stock valued at $507,934,000 after buying an additional 117,888 shares in the last quarter. FMR LLC increased its holdings in Inspire Medical Systems by 130.1% during the 3rd quarter. FMR LLC now owns 2,471,464 shares of the company’s stock worth $490,437,000 after purchasing an additional 1,397,510 shares in the last quarter. BlackRock Inc. increased its holdings in Inspire Medical Systems by 6.9% during the 1st quarter. BlackRock Inc. now owns 2,282,100 shares of the company’s stock worth $534,171,000 after purchasing an additional 146,344 shares in the last quarter. Macquarie Group Ltd. increased its holdings in Inspire Medical Systems by 0.9% during the 2nd quarter. Macquarie Group Ltd. now owns 1,540,495 shares of the company’s stock worth $281,402,000 after purchasing an additional 14,017 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Inspire Medical Systems by 46.4% in the fourth quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock valued at $290,959,000 after acquiring an additional 453,294 shares during 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.