Inspire Medical Systems, Inc. (NYSE:INSP) Director Shawn Mccormick Sells 800 Shares

Inspire Medical Systems, Inc. (NYSE:INSP) Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the sale, the director now owns 23,140 shares in the company, valued at approximately $5,090,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Inspire Medical Systems Stock Down 2.8 %

INSP stock opened at $206.53 on Thursday. The company’s 50-day moving average price is $166.34 and its two-hundred day moving average price is $180.78. The firm has a market cap of $6.16 billion, a P/E ratio of -375.51 and a beta of 1.33. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.46. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The business had revenue of $195.89 million for the quarter, compared to analysts’ expectations of $189.08 million. During the same period last year, the firm posted ($0.41) earnings per share. The firm’s quarterly revenue was up 29.6% compared to the same quarter last year. Equities analysts predict that Inspire Medical Systems, Inc. will post 0.75 EPS for the current year.

Wall Street Analyst Weigh In

INSP has been the topic of a number of research analyst reports. KeyCorp dropped their price target on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Stifel Nicolaus cut their target price on shares of Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Robert W. Baird reduced their target price on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a report on Wednesday, August 7th. Finally, Bank of America reduced their price objective on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating for the company in a report on Monday, June 3rd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $214.85.

Institutional Trading of Inspire Medical Systems

Several institutional investors and hedge funds have recently modified their holdings of the business. SouthState Corp bought a new position in shares of Inspire Medical Systems in the second quarter worth about $27,000. Quarry LP lifted its stake in Inspire Medical Systems by 105.4% in the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock valued at $46,000 after purchasing an additional 176 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in Inspire Medical Systems in the 2nd quarter valued at approximately $53,000. Principal Securities Inc. acquired a new stake in Inspire Medical Systems in the fourth quarter valued at approximately $54,000. Finally, Van ECK Associates Corp grew its stake in shares of Inspire Medical Systems by 7.5% during the second quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock worth $138,000 after buying an additional 72 shares during the last quarter. 94.91% of the stock is currently owned by 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.