Inspire Medical Systems (NASDAQ:INSP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $64.00 price objective on the stock. Zacks Investment Research‘s price target suggests a potential upside of 11.40% from the stock’s current price.
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 firms also recently issued reports on INSP. Leerink Swann initiated coverage on shares of Inspire Medical Systems in a research note on Monday, October 29th. They issued an “outperform” rating and a $57.00 price objective for the company. Dougherty & Co initiated coverage on shares of Inspire Medical Systems in a research note on Tuesday, February 5th. They issued a “buy” rating and a $64.00 price objective for the company. Finally, Berenberg Bank initiated coverage on shares of Inspire Medical Systems in a research note on Wednesday, November 28th. They issued a “sell” rating and a $31.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $44.11.
NASDAQ INSP opened at $57.45 on Tuesday. Inspire Medical Systems has a 1 year low of $22.50 and a 1 year high of $59.47.
In other news, CEO Timothy P. Herbert sold 15,000 shares of the stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $39.89, for a total transaction of $598,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jerry C. Griffin sold 1,300 shares of the stock in a transaction dated Tuesday, December 11th. The stock was sold at an average price of $37.60, for a total transaction of $48,880.00. The disclosure for this sale can be found here. Insiders have sold 844,354 shares of company stock valued at $43,291,794 in the last quarter.
Several institutional investors and hedge funds have recently made changes to their positions in INSP. Arcadia Investment Management Corp MI acquired a new stake in shares of Inspire Medical Systems during the fourth quarter worth about $40,000. Cutler Group LP purchased a new position in Inspire Medical Systems during the fourth quarter worth about $92,000. First Mercantile Trust Co. raised its holdings in Inspire Medical Systems by 71.1% during the fourth quarter. First Mercantile Trust Co. now owns 3,522 shares of the company’s stock worth $149,000 after purchasing an additional 1,464 shares in the last quarter. MetLife Investment Advisors LLC purchased a new position in Inspire Medical Systems during the third quarter worth about $199,000. Finally, Bank of America Corp DE purchased a new position in Inspire Medical Systems during the second quarter worth about $306,000.
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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