Morgan Stanley Cuts Inspire Medical Systems (NYSE:INSP) Price Target to $200.00

Inspire Medical Systems (NYSE:INSP) had its price objective lowered by Morgan Stanley from $220.00 to $200.00 in a research report report published on Tuesday morning, Marketbeat reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other equities analysts also recently issued reports on the company. Piper Sandler reduced their price target on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Robert W. Baird upped their target price on Inspire Medical Systems from $230.00 to $236.00 and gave the company an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered their price target on Inspire Medical Systems from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday. Truist Financial cut their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, Stifel Nicolaus lowered their target price on shares of Inspire Medical Systems from $190.00 to $175.00 and set a “hold” rating for the company in a research note on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.91.

Inspire Medical Systems Price Performance

Shares of NYSE INSP opened at $152.28 on Tuesday. The business has a fifty day moving average price of $158.28 and a 200 day moving average price of $178.63. Inspire Medical Systems has a 1-year low of $123.00 and a 1-year high of $225.00. The stock has a market capitalization of $4.49 billion, a P/E ratio of 88.02, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Monday, May 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 revenue was up 22.7% compared to the same quarter last year. During the same period last year, the business earned ($0.34) EPS. As a group, equities research analysts anticipate that Inspire Medical Systems will post 2.16 earnings per share for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In related news, insider Randy Ban sold 25,584 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the sale, the insider now directly owns 7,259 shares of the company’s stock, valued at $1,332,026.50. This trade represents a 77.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the transaction, the chief technology officer now owns 10,424 shares of the company’s stock, valued at approximately $1,777,187.76. This represents a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,527 shares of company stock worth $4,851,660 over the last 90 days. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Inspire Medical Systems

Institutional investors have recently modified their holdings of the business. US Bancorp DE raised its holdings in Inspire Medical Systems by 6.1% in the 1st quarter. US Bancorp DE now owns 2,479 shares of the company’s stock worth $395,000 after purchasing an additional 143 shares during the period. Bayforest Capital Ltd raised its stake in shares of Inspire Medical Systems by 2,465.9% during the 1st quarter. Bayforest Capital Ltd now owns 5,491 shares of the company’s stock worth $875,000 after buying an additional 5,277 shares during the period. LPL Financial LLC lifted its position in shares of Inspire Medical Systems by 3.2% during the 1st quarter. LPL Financial LLC now owns 10,126 shares of the company’s stock valued at $1,613,000 after buying an additional 315 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Inspire Medical Systems by 4.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,031 shares of the company’s stock valued at $1,279,000 after acquiring an additional 369 shares during the period. Finally, Cetera Investment Advisers increased its holdings in Inspire Medical Systems by 13.3% in the 1st quarter. Cetera Investment Advisers now owns 18,951 shares of the company’s stock worth $3,018,000 after acquiring an additional 2,231 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

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.