Inspire Medical Systems (NYSE:INSP) Receives New Coverage from Analysts at Royal Bank of Canada

Royal Bank of Canada began coverage on shares of Inspire Medical Systems (NYSE:INSP) in a report released on Friday, Marketbeat reports. The brokerage issued an outperform rating and a $285.00 price target on the stock.

A number of other research analysts have also recently commented on the company. Jefferies Financial Group began coverage on Inspire Medical Systems in a research note on Friday, January 19th. They set a buy rating and a $245.00 target price on the stock. KeyCorp began coverage on Inspire Medical Systems in a research note on Tuesday, February 6th. They set an overweight rating and a $278.00 target price on the stock. Morgan Stanley began coverage on Inspire Medical Systems in a research note on Tuesday, March 19th. They set an overweight rating and a $250.00 target price on the stock. Mizuho reaffirmed a buy rating and set a $250.00 target price on shares of Inspire Medical Systems in a research note on Wednesday, March 27th. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $210.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, January 2nd. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $272.20.

Inspire Medical Systems Price Performance

Shares of NYSE INSP opened at $229.26 on Friday. The business’s 50 day moving average is $203.53 and its two-hundred day moving average is $184.00. Inspire Medical Systems has a 1-year low of $123.27 and a 1-year high of $330.00.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.53. The company had revenue of $192.51 million for the quarter, compared to analysts’ expectations of $186.75 million. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The firm’s revenue for the quarter was up 39.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 earnings per share. On average, research analysts predict that Inspire Medical Systems will post -0.35 EPS for the current year.

Insiders Place Their Bets

In other Inspire Medical Systems news, CFO Richard Buchholz sold 15,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the completion of the sale, the chief financial officer now owns 28,271 shares in the company, valued at $6,503,178.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Inspire Medical Systems news, CFO Richard Buchholz sold 15,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the completion of the sale, the chief financial officer now owns 28,271 shares in the company, valued at $6,503,178.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Randy Ban sold 12,230 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $185.37, for a total value of $2,267,075.10. Following the sale, the insider now owns 3,029 shares of the company’s stock, valued at approximately $561,485.73. The disclosure for this sale can be found here. Insiders sold a total of 76,371 shares of company stock worth $15,664,278 over the last 90 days. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Inspire Medical Systems

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Inspire Medical Systems by 4.3% during the third quarter. Vanguard Group Inc. now owns 2,863,693 shares of the company’s stock worth $507,934,000 after purchasing an additional 117,888 shares in the last quarter. FMR LLC increased its position in shares of Inspire Medical Systems by 130.1% during the third quarter. FMR LLC now owns 2,471,464 shares of the company’s stock worth $490,437,000 after purchasing an additional 1,397,510 shares in the last quarter. BlackRock Inc. increased its position in shares of Inspire Medical Systems by 6.9% during the first quarter. BlackRock Inc. now owns 2,282,100 shares of the company’s stock worth $534,171,000 after purchasing an additional 146,344 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of Inspire Medical Systems by 0.9% during the second quarter. Macquarie Group Ltd. now owns 1,540,495 shares of the company’s stock worth $281,402,000 after purchasing an additional 14,017 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Inspire Medical Systems by 46.4% during the fourth quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock worth $290,959,000 after purchasing an additional 453,294 shares in the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Company Profile

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.