Analysts Set Inspire Medical Systems, Inc. (NYSE:INSP) Target Price at $133.88

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have earned an average recommendation of “Hold” from the seventeen research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $133.8750.

INSP has been the subject of a number of recent research reports. Royal Bank Of Canada cut their price objective on Inspire Medical Systems from $150.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of Inspire Medical Systems in a research report on Wednesday, October 8th. Lake Street Capital set a $150.00 price objective on shares of Inspire Medical Systems and gave the company a “buy” rating in a research report on Tuesday, August 5th. Piper Sandler reaffirmed an “overweight” rating and issued a $135.00 target price (down previously from $150.00) on shares of Inspire Medical Systems in a report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. cut their price target on Inspire Medical Systems from $110.00 to $82.00 and set a “neutral” rating for the company in a research note on Tuesday, November 4th.

Inspire Medical Systems Price Performance

NYSE:INSP opened at $90.87 on Monday. Inspire Medical Systems has a one year low of $70.77 and a one year high of $216.01. The business has a fifty day moving average price of $79.52 and a 200-day moving average price of $109.94. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 61.81, a price-to-earnings-growth ratio of 9.82 and a beta of 1.14.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.53. The business had revenue of $224.50 million during the quarter, compared to analyst estimates of $220.39 million. Inspire Medical Systems had a return on equity of 9.41% and a net margin of 5.05%.Inspire Medical Systems’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 earnings per share. On average, equities research analysts expect that Inspire Medical Systems will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems declared that its board has authorized a stock buyback program on Monday, August 11th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to repurchase up to 8.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, CFO Richard Buchholz sold 11,000 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $93.39, for a total value of $1,027,290.00. Following the transaction, the chief financial officer owned 44,867 shares of the company’s stock, valued at approximately $4,190,129.13. The trade was a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Inspire Medical Systems

Several institutional investors have recently bought and sold shares of INSP. Envestnet Asset Management Inc. lifted its stake in Inspire Medical Systems by 33.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 34,151 shares of the company’s stock worth $5,440,000 after purchasing an additional 8,484 shares in the last quarter. Xponance Inc. increased its holdings in shares of Inspire Medical Systems by 5.8% in the first quarter. Xponance Inc. now owns 4,045 shares of the company’s stock worth $644,000 after purchasing an additional 221 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Inspire Medical Systems by 23.7% in the first quarter. New York State Common Retirement Fund now owns 182,750 shares of the company’s stock worth $29,108,000 after buying an additional 35,071 shares in the last quarter. Edgestream Partners L.P. bought a new position in Inspire Medical Systems during the first quarter valued at approximately $707,000. Finally, TimesSquare Capital Management LLC boosted its stake in Inspire Medical Systems by 9.8% during the first quarter. TimesSquare Capital Management LLC now owns 476,217 shares of the company’s stock valued at $75,852,000 after buying an additional 42,411 shares during the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

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) 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.