Brokerages Set Inspire Medical Systems, Inc. (NYSE:INSP) Target Price at $228.82

Inspire Medical Systems, Inc. (NYSE:INSP) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $228.82.

A number of research firms have recently issued reports on INSP. KeyCorp reiterated an “overweight” rating and issued a $234.00 price objective (down from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Wells Fargo & Company lowered their price objective on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. Morgan Stanley lowered their price objective on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Royal Bank of Canada restated an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday, February 11th. Finally, Truist Financial lowered their target price on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th.

Inspire Medical Systems Stock Down 3.8 %

NYSE INSP opened at $172.60 on Wednesday. Inspire Medical Systems has a 12-month low of $123.00 and a 12-month high of $257.40. The company has a market capitalization of $5.12 billion, a PE ratio of 99.77, a price-to-earnings-growth ratio of 2.86 and a beta of 1.48. The firm’s 50 day moving average is $186.71 and its 200-day moving average is $192.61.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. As a group, sell-side analysts expect that Inspire Medical Systems will post 2.16 EPS for the current year.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 25,584 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the transaction, the insider now directly owns 7,259 shares in the company, valued at $1,332,026.50. The trade was a 77.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO John Rondoni sold 583 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the transaction, the chief technology officer now owns 10,424 shares in the company, valued at approximately $1,777,187.76. This represents a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,225 shares of company stock worth $4,806,530 over the last ninety days. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Inspire Medical Systems

A number of institutional investors have recently modified their holdings of INSP. New York State Teachers Retirement System bought a new stake in shares of Inspire Medical Systems in the third quarter valued at about $1,708,000. Farther Finance Advisors LLC boosted its position in shares of Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after acquiring an additional 139 shares during the period. QRG Capital Management Inc. bought a new stake in shares of Inspire Medical Systems in the third quarter valued at about $236,000. Amalgamated Bank boosted its position in shares of Inspire Medical Systems by 387.5% in the third quarter. Amalgamated Bank now owns 9,774 shares of the company’s stock valued at $2,063,000 after acquiring an additional 7,769 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Inspire Medical Systems by 3,812.6% in the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock valued at $29,777,000 after acquiring an additional 137,483 shares during the period. Institutional investors 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.