Inspire Medical Systems (NYSE:INSP) Price Target Raised to $252.00

Inspire Medical Systems (NYSE:INSP) had its price target upped by Robert W. Baird from $240.00 to $252.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages have also recently commented on INSP. KeyCorp dropped their price target on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley cut their target price on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Leerink Partners lifted their price target on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 10th. Truist Financial reissued a “buy” rating and set a $240.00 price objective (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $227.75.

Inspire Medical Systems Stock Performance

INSP stock opened at $199.01 on Tuesday. Inspire Medical Systems has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 185.99 and a beta of 1.36. The business’s 50 day moving average price is $201.37 and its two-hundred day moving average price is $179.72.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.54. The company had revenue of $203.20 million for the quarter, compared to analysts’ expectations of $197.59 million. Inspire Medical Systems had a return on equity of 1.03% and a net margin of 0.85%. The firm’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.29) earnings per share. Sell-side analysts forecast that Inspire Medical Systems will post 0.75 earnings per share for the current year.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the sale, the director now owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the transaction, the director now directly owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $188.55, for a total value of $916,541.55. Following the sale, the insider now owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,692 shares of company stock worth $1,099,207 over the last quarter. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in INSP. SouthState Corp bought a new stake in shares of Inspire Medical Systems during the 2nd quarter valued at $27,000. Farther Finance Advisors LLC lifted its position in Inspire Medical Systems by 1,158.3% during the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after purchasing an additional 139 shares in the last quarter. GAMMA Investing LLC grew its holdings in Inspire Medical Systems by 559.3% during the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after purchasing an additional 151 shares during the period. Quarry LP increased its position in Inspire Medical Systems by 105.4% in the second quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after buying an additional 176 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in shares of Inspire Medical Systems in the second quarter worth about $53,000. 94.91% of the stock is currently owned by 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.