Zacks Investment Research lowered shares of Inspire Medical Systems (NASDAQ:INSP) from a hold rating to a sell rating in a research report report published on Saturday, Zacks.com reports.

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. “

Separately, Bank of America restated a sell rating on shares of Deutsche Bank in a research report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Inspire Medical Systems currently has a consensus rating of Hold and a consensus price target of $57.20.

Shares of Inspire Medical Systems stock opened at $67.89 on Friday. The stock’s 50-day moving average price is $59.78. Inspire Medical Systems has a 12-month low of $35.43 and a 12-month high of $69.71.

Inspire Medical Systems (NASDAQ:INSP) last announced its earnings results on Tuesday, May 7th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 63.0% on a year-over-year basis.

In other news, CEO Timothy P. Herbert sold 25,000 shares of Inspire Medical Systems stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $52.55, for a total transaction of $1,313,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joyce Erony sold 191,192 shares of Inspire Medical Systems stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $66.98, for a total transaction of $12,806,040.16. The disclosure for this sale can be found here. Insiders sold a total of 579,726 shares of company stock valued at $36,094,142 in the last 90 days.

Large investors have recently modified their holdings of the company. Rhumbline Advisers boosted its stake in Inspire Medical Systems by 137.8% during the 4th quarter. Rhumbline Advisers now owns 15,184 shares of the company’s stock worth $642,000 after acquiring an additional 8,800 shares during the last quarter. BlackRock Inc. raised its stake in Inspire Medical Systems by 47.5% in the fourth quarter. BlackRock Inc. now owns 805,471 shares of the company’s stock valued at $34,031,000 after buying an additional 259,453 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Inspire Medical Systems by 20.2% in the fourth quarter. Bank of New York Mellon Corp now owns 64,212 shares of the company’s stock valued at $2,713,000 after buying an additional 10,786 shares in the last quarter. Citigroup Inc. raised its stake in Inspire Medical Systems by 46.2% in the fourth quarter. Citigroup Inc. now owns 3,145 shares of the company’s stock valued at $133,000 after buying an additional 994 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Inspire Medical Systems by 45.8% in the fourth quarter. Northern Trust Corp now owns 156,080 shares of the company’s stock valued at $6,595,000 after buying an additional 49,045 shares in the last quarter.

Inspire Medical Systems Company Profile

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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