Inspire Medical Systems (INSP) Rating Increased to Buy at Zacks Investment Research

Share on StockTwits

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.

Read More: Intrinsic Value

Get a free copy of the Zacks research report on Inspire Medical Systems (INSP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Inspire Medical Systems (NASDAQ:INSP)

Receive News & Ratings for Inspire Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inspire Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply