Inspire Medical Systems (NYSE:INSP) Stock Falls 6.2% – Time to Sell?

Inspire Medical Systems, Inc. (NYSE:INSP) fell 6.2% during mid-day trading on Wednesday. The stock traded as low as $69.10 and last traded at $68.63. 400,517 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 1,069,538 shares. The stock had previously closed at $73.18.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Robert W. Baird raised their price target on Inspire Medical Systems from $54.00 to $59.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. UBS Group assumed coverage on Inspire Medical Systems in a research note on Tuesday, July 28th. They issued a “sell” rating and a $39.00 target price on the stock. Oppenheimer upgraded Inspire Medical Systems from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research report on Tuesday, August 4th. Truist Financial reissued a “hold” rating and set a $62.00 target price (up from $54.00) on shares of Inspire Medical Systems in a research note on Tuesday, August 4th. Finally, Zacks Research cut shares of Inspire Medical Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $66.50.

Inspire Medical Systems Price Performance

The stock has a market cap of $2.01 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 5.29 and a beta of 0.70. The business has a fifty day moving average of $62.28 and a 200-day moving average of $53.44.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Monday, August 3rd. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.38. Inspire Medical Systems had a return on equity of 8.64% and a net margin of 15.03%.The business had revenue of $200.58 million during the quarter, compared to analyst estimates of $194.72 million. During the same period in the previous year, the company posted $0.45 EPS. Inspire Medical Systems’s revenue was down 7.6% on a year-over-year basis. Inspire Medical Systems has set its FY 2026 guidance at 1.050-1.450 EPS. As a group, equities research analysts predict that Inspire Medical Systems, Inc. will post 1.24 EPS for the current year.

Insiders Place Their Bets

In other Inspire Medical Systems news, insider Jason Kelly sold 963 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $59.55, for a total transaction of $57,346.65. Following the transaction, the insider directly owned 18,985 shares in the company, valued at $1,130,556.75. This represents a 4.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Inspire Medical Systems

A number of hedge funds and other institutional investors have recently modified their holdings of INSP. Alberta Investment Management Corp bought a new stake in shares of Inspire Medical Systems in the 2nd quarter valued at about $5,483,000. GSA Capital Partners LLP purchased a new position in Inspire Medical Systems in the second quarter worth $820,000. Legal & General Group Plc acquired a new position in shares of Inspire Medical Systems during the second quarter worth $2,732,000. Assenagon Asset Management S.A. increased its position in shares of Inspire Medical Systems by 66.2% during the second quarter. Assenagon Asset Management S.A. now owns 864,395 shares of the company’s stock worth $38,561,000 after purchasing an additional 344,221 shares in the last quarter. Finally, Bank of Nova Scotia lifted its holdings in shares of Inspire Medical Systems by 49.8% during the 1st quarter. Bank of Nova Scotia now owns 60,000 shares of the company’s stock valued at $3,095,000 after purchasing an additional 19,958 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

About Inspire Medical Systems

Inspire Medical Systems, Inc develops and commercializes medical devices for treating moderate to severe obstructive sleep apnea (OSA), a condition in which the upper airway repeatedly becomes blocked during sleep. The company’s primary product is Inspire therapy, an implantable system designed for patients who are unable to use or obtain consistent benefit from continuous positive airway pressure (CPAP) therapy.

The Inspire system uses a small implantable pulse generator, a breathing-sensing lead and a stimulation lead.