Inspire Medical Systems (NYSE:INSP) Hits New 52-Week Low – Here’s Why

Inspire Medical Systems, Inc. (NYSE:INSP)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $64.46 and last traded at $66.39, with a volume of 1169579 shares changing hands. The stock had previously closed at $65.70.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INSP. Wolfe Research upgraded Inspire Medical Systems from a “peer perform” rating to an “outperform” rating and set a $180.00 price objective on the stock in a research report on Tuesday, November 25th. Robert W. Baird upped their target price on Inspire Medical Systems from $125.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. Stifel Nicolaus set a $110.00 price target on Inspire Medical Systems and gave the company a “buy” rating in a report on Monday, November 24th. Zacks Research raised Inspire Medical Systems from a “strong sell” rating to a “hold” rating in a report on Monday, October 27th. Finally, Oppenheimer cut shares of Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $133.47.

Inspire Medical Systems Trading Up 1.1%

The stock has a fifty day moving average of $98.68 and a two-hundred day moving average of $92.29. The company has a market capitalization of $1.93 billion, a PE ratio of 45.16, a PEG ratio of 6.63 and a beta of 0.74.

Insider Buying and Selling at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $127.48, for a total value of $254,960.00. Following the completion of the sale, the director directly owned 26,046 shares in the company, valued at approximately $3,320,344.08. The trade was a 7.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Inspire Medical Systems

A number of large investors have recently added to or reduced their stakes in INSP. CWM LLC boosted its position in Inspire Medical Systems by 216.1% during the fourth quarter. CWM LLC now owns 354 shares of the company’s stock valued at $33,000 after buying an additional 242 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Inspire Medical Systems in the 4th quarter valued at about $40,000. Manning & Napier Advisors LLC purchased a new stake in Inspire Medical Systems during the 3rd quarter valued at about $32,000. Daiwa Securities Group Inc. boosted its holdings in Inspire Medical Systems by 38.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock valued at $60,000 after acquiring an additional 130 shares during the period. Finally, Larson Financial Group LLC grew its position in Inspire Medical Systems by 21,266.7% during the 3rd quarter. Larson Financial Group LLC now owns 641 shares of the company’s stock worth $48,000 after acquiring an additional 638 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.