Brokerages Set Inspire Medical Systems, Inc. (NYSE:INSP) Target Price at $104.24

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have received an average recommendation of “Hold” from the nineteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $101.4118.

A number of analysts recently issued reports on INSP shares. Piper Sandler dropped their target price on shares of Inspire Medical Systems from $165.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. Wolfe Research cut shares of Inspire Medical Systems from an “outperform” rating to a “peer perform” rating in a research report on Friday, February 13th. Stifel Nicolaus decreased their price objective on shares of Inspire Medical Systems from $85.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, April 10th. UBS Group set a $67.00 price objective on shares of Inspire Medical Systems in a research report on Friday, February 13th. Finally, Jefferies Financial Group cut their target price on shares of Inspire Medical Systems from $81.00 to $66.00 and set a “hold” rating on the stock in a research note on Thursday, February 12th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP purchased a new stake in shares of Inspire Medical Systems in the fourth quarter worth about $203,929,000. M&T Bank Corp purchased a new stake in shares of Inspire Medical Systems during the 4th quarter valued at about $85,871,000. Deerfield Management Company L.P. lifted its position in Inspire Medical Systems by 648.4% during the 3rd quarter. Deerfield Management Company L.P. now owns 1,047,694 shares of the company’s stock worth $77,739,000 after acquiring an additional 907,694 shares in the last quarter. Morgan Stanley lifted its position in Inspire Medical Systems by 179.5% during the 4th quarter. Morgan Stanley now owns 1,259,762 shares of the company’s stock worth $116,188,000 after acquiring an additional 809,121 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in Inspire Medical Systems in the 4th quarter worth approximately $61,619,000. 94.91% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Trading Down 0.2%

Shares of INSP opened at $56.69 on Thursday. Inspire Medical Systems has a twelve month low of $48.30 and a twelve month high of $163.35. The firm has a market capitalization of $1.63 billion, a P/E ratio of 11.38, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. The stock’s fifty day simple moving average is $58.47 and its 200 day simple moving average is $81.23.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $0.69 by $0.96. The company had revenue of $269.08 million during the quarter, compared to analyst estimates of $264.02 million. Inspire Medical Systems had a return on equity of 10.96% and a net margin of 15.95%.The firm’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.15 earnings per share. Sell-side analysts predict that Inspire Medical Systems will post 2.16 earnings per share for the current year.

About Inspire Medical Systems

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.