Inspire Medical Systems, Inc. (NYSE:INSP) Receives Average Recommendation of “Moderate Buy” from Analysts

Inspire Medical Systems, Inc. (NYSE:INSP) has received a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $233.58.

A number of equities research analysts recently weighed in on INSP shares. Truist Financial restated a “buy” rating and set a $240.00 price objective (up from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Leerink Partners increased their price target on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research report on Tuesday, September 10th. Robert W. Baird lifted their price objective on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Piper Sandler reissued an “overweight” rating and set a $260.00 target price (up previously from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, November 5th.

Institutional Trading of Inspire Medical Systems

Several large investors have recently added to or reduced their stakes in INSP. Van ECK Associates Corp boosted its position in Inspire Medical Systems by 7.5% in the second quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock valued at $138,000 after buying an additional 72 shares during the last quarter. Amalgamated Bank lifted its stake in Inspire Medical Systems by 4.1% during the 2nd quarter. Amalgamated Bank now owns 2,005 shares of the company’s stock valued at $268,000 after acquiring an additional 79 shares during the period. Signaturefd LLC lifted its stake in Inspire Medical Systems by 45.9% during the 3rd quarter. Signaturefd LLC now owns 270 shares of the company’s stock valued at $57,000 after acquiring an additional 85 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Inspire Medical Systems by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,193 shares of the company’s stock valued at $2,836,000 after acquiring an additional 92 shares during the last quarter. Finally, Quarry LP increased its stake in shares of Inspire Medical Systems by 30.9% in the third quarter. Quarry LP now owns 449 shares of the company’s stock worth $95,000 after acquiring an additional 106 shares during the period. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Price Performance

NYSE:INSP opened at $189.09 on Friday. Inspire Medical Systems has a 1-year low of $123.00 and a 1-year high of $257.40. The company has a 50-day moving average of $191.29 and a 200 day moving average of $180.60. The firm has a market cap of $5.67 billion, a PE ratio of 176.72 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP) last announced 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 firm had revenue of $203.20 million during the quarter, compared to analysts’ expectations of $197.59 million. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The company’s revenue was up 32.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.29) EPS. Sell-side analysts anticipate that Inspire Medical Systems will post 1.33 EPS for the current fiscal year.

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.