Inspire Medical Systems (NYSE:INSP) Price Target Cut to $250.00

Inspire Medical Systems (NYSE:INSPGet Rating) had its target price reduced by research analysts at Truist Financial from $296.00 to $250.00 in a research note issued to investors on Friday, The Fly reports. Truist Financial’s target price points to a potential upside of 34.13% from the company’s current price.

Several other equities analysts have also issued reports on INSP. Wolfe Research initiated coverage on shares of Inspire Medical Systems in a report on Tuesday, April 5th. They set a “market perform” rating and a $270.00 target price for the company. Zacks Investment Research downgraded shares of Inspire Medical Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, April 20th. Bank of America started coverage on shares of Inspire Medical Systems in a research report on Wednesday, March 2nd. They set a “buy” rating for the company. TheStreet downgraded shares of Inspire Medical Systems from a “c-” rating to a “d+” rating in a research report on Friday, May 20th. Finally, Piper Sandler raised their price target on shares of Inspire Medical Systems from $305.00 to $310.00 in a research report on Wednesday, May 4th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Inspire Medical Systems currently has a consensus rating of “Buy” and a consensus target price of $287.86.

INSP opened at $186.39 on Friday. The stock has a market cap of $5.14 billion, a PE ratio of -119.48 and a beta of 1.66. The company has a quick ratio of 5.57, a current ratio of 6.08 and a debt-to-equity ratio of 0.06. Inspire Medical Systems has a 52 week low of $142.74 and a 52 week high of $286.29. The business’s fifty day simple moving average is $205.42 and its 200 day simple moving average is $219.97.

Inspire Medical Systems (NYSE:INSPGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.61) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.12. Inspire Medical Systems had a negative return on equity of 19.02% and a negative net margin of 16.20%. The firm had revenue of $69.40 million for the quarter, compared to analysts’ expectations of $64.17 million. During the same period last year, the firm earned ($0.60) earnings per share. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, equities analysts anticipate that Inspire Medical Systems will post -2.05 earnings per share for the current year.

In other news, Director Marilyn C. Nelson sold 2,579 shares of the company’s stock in a transaction that occurred on Friday, March 25th. The shares were sold at an average price of $250.01, for a total value of $644,775.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy P. Herbert sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $225.40, for a total transaction of $4,508,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 52,143 shares of company stock worth $12,848,826 over the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE lifted its position in Inspire Medical Systems by 2.1% during the first quarter. Bank of America Corp DE now owns 114,581 shares of the company’s stock valued at $29,411,000 after acquiring an additional 2,320 shares during the last quarter. Walleye Capital LLC lifted its position in Inspire Medical Systems by 214.1% during the first quarter. Walleye Capital LLC now owns 4,608 shares of the company’s stock valued at $1,183,000 after acquiring an additional 3,141 shares during the last quarter. Neuberger Berman Group LLC lifted its position in Inspire Medical Systems by 3.8% during the first quarter. Neuberger Berman Group LLC now owns 12,774 shares of the company’s stock valued at $3,279,000 after acquiring an additional 465 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Inspire Medical Systems during the first quarter valued at approximately $180,000. Finally, Summit Partners Public Asset Management LLC purchased a new stake in Inspire Medical Systems during the first quarter valued at approximately $9,549,000. 93.98% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Company Profile (Get Rating)

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.

Featured Articles

The Fly logo

Analyst Recommendations for Inspire Medical Systems (NYSE:INSP)

Want More Great Investing Ideas?

Receive News & Ratings for Inspire Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inspire Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.