Analysts Set Inspire Medical Systems, Inc. (NYSE:INSP) PT at $235.29

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $235.29.

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada started coverage on shares of Inspire Medical Systems in a research note on Friday, April 19th. They set an “outperform” rating and a $285.00 price target on the stock. Stifel Nicolaus dropped their target price on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Piper Sandler raised their price target on Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Bank of America decreased their price target on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. Finally, Morgan Stanley cut their price objective on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, July 15th.

Inspire Medical Systems Trading Up 6.2 %

Inspire Medical Systems stock opened at $133.56 on Tuesday. The stock has a 50 day moving average of $147.85 and a two-hundred day moving average of $184.62. Inspire Medical Systems has a twelve month low of $123.00 and a twelve month high of $291.98. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of -242.84 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.29. The business had revenue of $164.01 million during the quarter, compared to analysts’ expectations of $161.41 million. Inspire Medical Systems had a negative return on equity of 2.82% and a negative net margin of 2.38%. The company’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.53) earnings per share. Equities analysts predict that Inspire Medical Systems will post 0.16 earnings per share for the current year.

Hedge Funds Weigh In On Inspire Medical Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Inspire Medical Systems during the 4th quarter worth approximately $27,000. Principal Securities Inc. purchased a new position in Inspire Medical Systems during the fourth quarter worth $54,000. RiverPark Advisors LLC raised its holdings in shares of Inspire Medical Systems by 360.1% in the first quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock worth $166,000 after acquiring an additional 605 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Inspire Medical Systems in the fourth quarter valued at $166,000. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Inspire Medical Systems in the fourth quarter valued at $201,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

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.