Inspire Medical Systems (NYSE:INSP) Earns “Overweight” Rating from KeyCorp

Inspire Medical Systems (NYSE:INSP)‘s stock had its “overweight” rating reaffirmed by equities research analysts at KeyCorp in a report issued on Friday,Benzinga reports. They currently have a $234.00 price target on the stock, down from their prior price target of $236.00. KeyCorp’s price objective indicates a potential upside of 25.80% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Truist Financial reissued a “buy” rating and set a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Piper Sandler reaffirmed an “overweight” rating and set a $260.00 price target (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Robert W. Baird lifted their price target on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company upped their price objective on Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Inspire Medical Systems presently has an average rating of “Moderate Buy” and a consensus target price of $231.45.

Inspire Medical Systems Stock Down 0.8 %

NYSE INSP traded down $1.58 on Friday, hitting $186.02. The stock had a trading volume of 149,059 shares, compared to its average volume of 688,306. The company’s 50-day moving average is $189.00 and its two-hundred day moving average is $186.06. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 173.84 and a beta of 1.32. Inspire Medical Systems has a one year low of $123.00 and a one year high of $257.40.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The firm had revenue of $203.20 million for the quarter, compared to analysts’ expectations of $197.59 million. During the same period last year, the firm earned ($0.29) EPS. The firm’s revenue was up 32.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Inspire Medical Systems will post 1.35 earnings per share for the current year.

Institutional Trading of Inspire Medical Systems

Several large investors have recently added to or reduced their stakes in INSP. Amalgamated Bank increased its holdings in shares of 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 last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Inspire Medical Systems by 1.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,879 shares of the company’s stock worth $1,461,000 after acquiring an additional 79 shares during the period. Signaturefd LLC raised its holdings in shares of Inspire Medical Systems by 45.9% in the 3rd quarter. Signaturefd LLC now owns 270 shares of the company’s stock worth $57,000 after buying an additional 85 shares in the last quarter. The Manufacturers Life Insurance Company grew 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 worth $2,836,000 after purchasing an additional 92 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Inspire Medical Systems by 37.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 368 shares of the company’s stock worth $68,000 after buying an additional 100 shares in the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

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.