Inspire Medical Systems (NYSE:INSP) Stock Rating Lowered by Zacks Investment Research

Inspire Medical Systems (NYSE:INSP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “Inspire Medical Systems Inc. is a medical technology company. It focused on the development and commercialization of solutions for obstructive sleep apnea. The company’s proprietary Inspire therapy is a neurostimulation technology which provides treatment for moderate to severe obstructive sleep apnea. Inspire Medical Systems Inc.is based in Minnesota, United States. “

Several other brokerages have also recently weighed in on INSP. Bank of America reaffirmed a “neutral” rating and issued a $75.00 target price (up previously from $65.00) on shares of Inspire Medical Systems in a report on Monday, July 8th. Dougherty & Co set a $78.00 price objective on shares of Inspire Medical Systems and gave the stock a “buy” rating in a report on Friday, September 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Inspire Medical Systems currently has an average rating of “Hold” and a consensus price target of $60.00.

Shares of NYSE:INSP opened at $54.89 on Thursday. The firm’s 50 day moving average price is $61.86 and its 200 day moving average price is $59.50. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -36.59 and a beta of 1.24. Inspire Medical Systems has a fifty-two week low of $35.43 and a fifty-two week high of $71.71. The company has a quick ratio of 20.05, a current ratio of 20.46 and a debt-to-equity ratio of 0.16.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Tuesday, August 6th. The company reported ($0.32) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.45) by $0.13. The firm had revenue of $18.03 million for the quarter, compared to analysts’ expectations of $21.26 million. Inspire Medical Systems had a negative net margin of 39.73% and a negative return on equity of 17.75%. The firm’s revenue was up 64.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.43) earnings per share. On average, equities analysts anticipate that Inspire Medical Systems will post -1.55 EPS for the current year.

In other Inspire Medical Systems news, insider Randy Ban sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $61.62, for a total transaction of $616,200.00. Also, Director Marilyn C. Nelson sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $66.71, for a total transaction of $4,002,600.00. In the last three months, insiders have sold 172,490 shares of company stock worth $11,511,224. 12.10% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Inspire Medical Systems by 293.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 637 shares of the company’s stock worth $39,000 after acquiring an additional 475 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Inspire Medical Systems during the first quarter worth approximately $45,000. Royal Bank of Canada grew its position in shares of Inspire Medical Systems by 593.3% during the second quarter. Royal Bank of Canada now owns 1,040 shares of the company’s stock worth $63,000 after acquiring an additional 890 shares during the last quarter. Advisory Services Network LLC grew its position in shares of Inspire Medical Systems by 273.3% during the first quarter. Advisory Services Network LLC now owns 1,120 shares of the company’s stock worth $64,000 after acquiring an additional 820 shares during the last quarter. Finally, First Quadrant L P CA purchased a new position in shares of Inspire Medical Systems during the second quarter worth approximately $118,000. Institutional investors and hedge funds own 82.96% of the company’s stock.

About Inspire Medical Systems

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.

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