Morgan Stanley Lowers Inspire Medical Systems (NYSE:INSP) Price Target to $220.00

Inspire Medical Systems (NYSE:INSP) had its target price decreased by equities research analysts at Morgan Stanley from $230.00 to $220.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 17.54% from the stock’s previous close.

Several other equities research analysts have also commented on the company. Piper Sandler lowered their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research report on Monday. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a report on Tuesday, November 5th. KeyCorp restated an “overweight” rating and set a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Stifel Nicolaus decreased their price objective on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company dropped their target price on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Inspire Medical Systems presently has an average rating of “Moderate Buy” and a consensus target price of $228.82.

Inspire Medical Systems Price Performance

NYSE INSP opened at $187.17 on Tuesday. Inspire Medical Systems has a 1 year low of $123.00 and a 1 year high of $257.40. The company has a market capitalization of $5.61 billion, a PE ratio of 174.93 and a beta of 1.32. The company has a fifty day moving average of $189.39 and a 200 day moving average of $191.39.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. Research analysts expect that Inspire Medical Systems will post 1.33 earnings per share for the current year.

Institutional Investors Weigh In On Inspire Medical Systems

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Inspire Medical Systems by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company’s stock valued at $606,259,000 after acquiring an additional 38,219 shares during the last quarter. Wasatch Advisors LP boosted its stake in shares of Inspire Medical Systems by 1.6% in the third quarter. Wasatch Advisors LP now owns 1,323,470 shares of the company’s stock worth $279,318,000 after acquiring an additional 20,481 shares during the last quarter. State Street Corp increased its position in shares of Inspire Medical Systems by 78.0% during the third quarter. State Street Corp now owns 1,049,784 shares of the company’s stock worth $221,557,000 after purchasing an additional 459,990 shares in the last quarter. Janus Henderson Group PLC raised its stake in Inspire Medical Systems by 5.8% in the 3rd quarter. Janus Henderson Group PLC now owns 502,609 shares of the company’s stock valued at $106,075,000 after purchasing an additional 27,374 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Inspire Medical Systems by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 486,341 shares of the company’s stock valued at $90,188,000 after purchasing an additional 2,687 shares in the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

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.