Inspire Medical Systems (INSP) Given Consensus Recommendation of “Buy” by Brokerages

Inspire Medical Systems (NASDAQ:INSP) has earned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $39.67.

Several analysts have weighed in on the company. Zacks Investment Research cut Inspire Medical Systems from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Leerink Swann initiated coverage on Inspire Medical Systems in a research note on Monday, October 29th. They issued an “outperform” rating and a $57.00 price target for the company.

Shares of NASDAQ:INSP opened at $52.35 on Friday. Inspire Medical Systems has a 1-year low of $22.50 and a 1-year high of $57.87.

Inspire Medical Systems (NASDAQ:INSP) last announced its quarterly earnings data on Tuesday, November 6th. The company reported ($0.22) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.13. The firm had revenue of $13.10 million for the quarter, compared to the consensus estimate of $12.86 million. The business’s revenue for the quarter was up 79.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($3.42) earnings per share.

Several hedge funds have recently made changes to their positions in the company. Orbimed Advisors LLC bought a new stake in shares of Inspire Medical Systems in the 2nd quarter valued at about $87,161,000. Millennium Management LLC bought a new stake in shares of Inspire Medical Systems in the 2nd quarter valued at about $26,752,000. BlackRock Inc. bought a new stake in shares of Inspire Medical Systems in the 2nd quarter valued at about $19,624,000. FMR LLC bought a new stake in shares of Inspire Medical Systems in the 2nd quarter valued at about $11,340,000. Finally, Federated Investors Inc. PA bought a new stake in shares of Inspire Medical Systems in the 2nd quarter valued at about $10,949,000.

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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Analyst Recommendations for Inspire Medical Systems (NASDAQ:INSP)

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