Inspire Medical Systems (NASDAQ:INSP) Rating Reiterated by Bank of America

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Bank of America restated their neutral rating on shares of Inspire Medical Systems (NASDAQ:INSP) in a report published on Monday morning, The Fly reports. Bank of America currently has a $75.00 price objective on the stock, up from their previous price objective of $65.00.

Separately, Zacks Investment Research cut shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Saturday, May 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $57.20.

Shares of NASDAQ INSP opened at $67.33 on Monday. The business’s 50 day moving average price is $58.40. Inspire Medical Systems has a 1 year low of $35.43 and a 1 year high of $69.71.

Inspire Medical Systems (NASDAQ:INSP) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.04. The firm had revenue of $16.30 million for the quarter, compared to analyst estimates of $17.79 million. The business’s quarterly revenue was up 63.0% on a year-over-year basis.

In related news, Director Joyce Erony sold 191,192 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $66.98, for a total transaction of $12,806,040.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Randy Ban sold 10,074 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $50.09, for a total transaction of $504,606.66. The disclosure for this sale can be found here. Insiders have sold a total of 473,266 shares of company stock valued at $28,674,342 in the last ninety days.

A number of hedge funds have recently modified their holdings of INSP. Capital Financial Planning LLC purchased a new position in Inspire Medical Systems in the 4th quarter valued at approximately $27,000. FinTrust Capital Advisors LLC purchased a new position in Inspire Medical Systems in the 1st quarter valued at approximately $34,000. Marshall Wace North America L.P. purchased a new position in Inspire Medical Systems in the 1st quarter valued at approximately $45,000. Great West Life Assurance Co. Can purchased a new position in Inspire Medical Systems in the 4th quarter valued at approximately $50,000. Finally, Advisory Services Network LLC boosted its position in Inspire Medical Systems by 273.3% in the 1st quarter. Advisory Services Network LLC now owns 1,120 shares of the company’s stock valued at $64,000 after buying an additional 820 shares during the period.

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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