Inspire Medical Systems (NYSE:INSP) Shares Down 5.1% – Should You Sell?

Inspire Medical Systems, Inc. (NYSE:INSP)’s stock price fell 5.1% on Wednesday . The stock traded as low as $163.30 and last traded at $163.97. 322,381 shares were traded 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

INSP has been the subject of a number of research reports. Morgan Stanley lowered their price target on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. 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 note on Friday, January 24th. Robert W. Baird decreased their price objective on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and increased their target price for the company from $220.00 to $255.00 in a report on Wednesday, November 20th. Finally, Wells Fargo & Company lowered their price target on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Inspire Medical Systems presently has an average rating of “Moderate Buy” and a consensus target price of $228.82.

Inspire Medical Systems Stock Down 5.7 %

The company has a market cap of $4.84 billion, a PE ratio of 94.22, a P/E/G ratio of 2.86 and a beta of 1.48. The stock has a 50-day simple moving average of $186.71 and a 200 day simple moving average of $192.61.

Inspire Medical Systems (NYSE:INSP) last released its quarterly 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 net margin of 6.67% and a return on equity of 8.19%. As a group, research analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction dated 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 approximately $1,332,026.50. This trade represents a 77.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO John Rondoni sold 583 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was 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. The trade was a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,225 shares of company stock valued at $4,806,530. 4.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Inspire Medical Systems

Large investors have recently modified their holdings of the company. Polar Asset Management Partners Inc. purchased a new position in Inspire Medical Systems in the fourth quarter valued at $945,000. Squarepoint Ops LLC increased its holdings in shares of Inspire Medical Systems by 185.4% in the 4th quarter. Squarepoint Ops LLC now owns 2,477 shares of the company’s stock valued at $459,000 after acquiring an additional 5,377 shares during the last quarter. Two Sigma Investments LP raised its position in shares of Inspire Medical Systems by 9.3% during the 4th quarter. Two Sigma Investments LP now owns 16,384 shares of the company’s stock worth $3,037,000 after acquiring an additional 1,398 shares in the last quarter. True Wealth Design LLC lifted its stake in Inspire Medical Systems by 39.0% during the fourth quarter. True Wealth Design LLC now owns 196 shares of the company’s stock worth $36,000 after purchasing an additional 55 shares during the last quarter. Finally, Man Group plc increased its stake in Inspire Medical Systems by 112.7% in the fourth quarter. Man Group plc now owns 175,926 shares of the company’s stock valued at $32,613,000 after purchasing an additional 93,214 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.