Inspire Medical Systems (NYSE:INSP) Price Target Raised to $236.00

Inspire Medical Systems (NYSE:INSP) had its price objective upped by Robert W. Baird from $230.00 to $236.00 in a report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

INSP has been the subject of several other reports. Truist Financial lowered their target price on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. KeyCorp reduced their price objective on Inspire Medical Systems from $234.00 to $216.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Royal Bank of Canada lowered their target price on Inspire Medical Systems from $260.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company reduced their price target on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. Finally, Piper Sandler cut their price objective on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.91.

Inspire Medical Systems Stock Down 2.7 %

Shares of INSP opened at $152.28 on Tuesday. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 88.02, a PEG ratio of 2.86 and a beta of 1.39. The business’s 50 day moving average is $158.28 and its two-hundred day moving average is $178.63. Inspire Medical Systems has a 52-week low of $123.00 and a 52-week high of $225.00.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.33. The business had revenue of $201.32 million for the quarter, compared to analysts’ expectations of $194.89 million. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.34) earnings per share. On average, equities analysts expect that Inspire Medical Systems will post 2.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the sale, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at $1,777,187.76. The trade was a 5.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shawn Mccormick sold 360 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $160.00, for a total value of $57,600.00. Following the completion of the sale, the director now directly owns 24,046 shares of the company’s stock, valued at approximately $3,847,360. This trade represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,527 shares of company stock worth $4,851,660. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Inspire Medical Systems

Several hedge funds have recently bought and sold shares of INSP. Smartleaf Asset Management LLC lifted its position in shares of Inspire Medical Systems by 178.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 357 shares of the company’s stock worth $66,000 after purchasing an additional 229 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of Inspire Medical Systems during the fourth quarter worth $313,000. Jennison Associates LLC purchased a new position in Inspire Medical Systems in the fourth quarter valued at about $8,821,000. Janney Montgomery Scott LLC raised its stake in shares of Inspire Medical Systems by 248.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,806 shares of the company’s stock worth $891,000 after purchasing an additional 3,427 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Inspire Medical Systems during the 4th quarter valued at about $292,000. 94.91% of the stock is owned by hedge funds and other institutional investors.

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) in the United States and internationally. The company offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.