Inspire Medical Systems (NYSE:INSP) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Inspire Medical Systems (NYSE:INSP) from a buy rating to a hold rating in a research report sent to investors 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 research analysts have also recently commented on the company. Bank of America reissued a neutral rating and set a $75.00 target price (up from $65.00) on shares of Inspire Medical Systems in a research note on Monday, July 8th. Dougherty & Co set a $78.00 target price on Inspire Medical Systems and gave the stock a buy rating in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $60.00.

INSP traded down $1.02 on Thursday, hitting $54.88. 10,352 shares of the company were exchanged, compared to its average volume of 283,101. Inspire Medical Systems has a twelve month low of $35.43 and a twelve month high of $71.71. The company has a market cap of $1.32 billion, a price-to-earnings ratio of -36.56 and a beta of 1.24. The company has a current ratio of 20.46, a quick ratio of 20.05 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $62.10 and a two-hundred day moving average price of $59.51.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Tuesday, August 6th. The company reported ($0.32) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.13. Inspire Medical Systems had a negative return on equity of 17.75% and a negative net margin of 39.73%. The firm had revenue of $18.03 million during the quarter, compared to analysts’ expectations of $21.26 million. During the same period in the previous year, the firm posted ($0.43) EPS. Inspire Medical Systems’s revenue for the quarter was up 64.9% on a year-over-year basis. Equities analysts expect that Inspire Medical Systems will post -1.55 EPS for the current year.

In other news, CEO Timothy P. Herbert sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $65.96, for a total transaction of $989,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy P. Herbert sold 10,000 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $70.00, for a total value of $700,000.00. Insiders have sold a total of 172,490 shares of company stock valued at $11,511,224 over the last three months. 12.10% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its position in shares of Inspire Medical Systems by 57.5% during the 2nd quarter. Macquarie Group Ltd. now owns 126,041 shares of the company’s stock worth $7,644,000 after acquiring an additional 46,026 shares in the last quarter. MetLife Investment Advisors LLC lifted its holdings in shares of Inspire Medical Systems by 20.7% in the 1st quarter. MetLife Investment Advisors LLC now owns 6,838 shares of the company’s stock valued at $388,000 after purchasing an additional 1,175 shares during the last quarter. Strs Ohio lifted its holdings in shares of Inspire Medical Systems by 8.7% in the 2nd quarter. Strs Ohio now owns 2,500 shares of the company’s stock valued at $151,000 after purchasing an additional 200 shares during the last quarter. Atika Capital Management LLC lifted its holdings in shares of Inspire Medical Systems by 18.7% in the 2nd quarter. Atika Capital Management LLC now owns 165,000 shares of the company’s stock valued at $10,007,000 after purchasing an additional 26,000 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. purchased a new stake in shares of Inspire Medical Systems in the 2nd quarter valued at about $228,000. 82.96% of the stock is owned by institutional investors and hedge funds.

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.

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