Inspire Medical Systems (INSP) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Inspire Medical Systems (NASDAQ:INSP) have earned a consensus rating of “Buy” from the nine ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $43.56.

INSP has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Inspire Medical Systems from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Tuesday, February 12th. Dougherty & Co initiated coverage on Inspire Medical Systems in a research report on Tuesday, February 5th. They issued a “buy” rating and a $64.00 price target for the company.

In related news, Director Marilyn C. Nelson sold 152,985 shares of Inspire Medical Systems stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $51.66, for a total transaction of $7,903,205.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Buchholz sold 2,000 shares of Inspire Medical Systems stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $56.87, for a total value of $113,740.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,074 shares of company stock valued at $15,527,150.

Institutional investors have recently bought and sold shares of the stock. Capital Financial Planning LLC purchased a new stake in Inspire Medical Systems during the 4th quarter worth about $27,000. FinTrust Capital Advisors LLC purchased a new stake in Inspire Medical Systems during the 1st quarter worth about $34,000. Rockefeller Capital Management L.P. purchased a new stake in Inspire Medical Systems during the 1st quarter worth about $37,000. Arcadia Investment Management Corp MI purchased a new stake in Inspire Medical Systems during the 4th quarter worth about $40,000. Finally, Great West Life Assurance Co. Can purchased a new stake in Inspire Medical Systems during the 4th quarter worth about $50,000.

Inspire Medical Systems stock traded down $1.84 during midday trading on Friday, reaching $50.98. The company’s stock had a trading volume of 413,900 shares, compared to its average volume of 335,746. Inspire Medical Systems has a fifty-two week low of $25.30 and a fifty-two week high of $64.34.

Inspire Medical Systems (NASDAQ:INSP) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.04. The firm had revenue of $16.30 million during the quarter, compared to analysts’ expectations of $17.79 million. The business’s quarterly revenue was up 63.0% compared to the same quarter last year.

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). It offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.

Read More: Momentum Indicator: Relative Strength Index

Analyst Recommendations for Inspire Medical Systems (NASDAQ:INSP)

Receive News & Ratings for Inspire Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inspire Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.