Inspire Medical Systems, Inc. (NYSE:INSP) Receives $211.91 Average Target Price from Analysts

Inspire Medical Systems, Inc. (NYSE:INSP) has received an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $211.91.

Several analysts recently weighed in on the company. Morgan Stanley dropped their price target on Inspire Medical Systems from $220.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Royal Bank of Canada dropped their target price on Inspire Medical Systems from $260.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company reduced their target price on shares of Inspire Medical Systems from $195.00 to $174.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Truist Financial decreased their price target on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Finally, KeyCorp dropped their price objective on shares of Inspire Medical Systems from $234.00 to $216.00 and set an “overweight” rating for the company in a research note on Monday, April 21st.

Insider Buying and Selling

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $160.00, for a total transaction of $57,600.00. Following the completion of the transaction, the director now directly owns 24,046 shares in the company, valued at $3,847,360. The trade was a 1.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Inspire Medical Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. First Horizon Advisors Inc. increased its position in Inspire Medical Systems by 885.7% during the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares in the last quarter. Huntington National Bank grew its stake in shares of Inspire Medical Systems by 228.3% during the fourth quarter. Huntington National Bank now owns 174 shares of the company’s stock worth $32,000 after buying an additional 121 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Inspire Medical Systems by 356.5% during the first quarter. Parallel Advisors LLC now owns 210 shares of the company’s stock worth $33,000 after buying an additional 164 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of Inspire Medical Systems by 39.0% during the fourth quarter. True Wealth Design LLC now owns 196 shares of the company’s stock worth $36,000 after buying an additional 55 shares in the last quarter. Finally, Harbour Investments Inc. lifted its stake in shares of Inspire Medical Systems by 101.0% in the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock valued at $37,000 after acquiring an additional 99 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Price Performance

Shares of INSP stock opened at $146.36 on Monday. The company has a fifty day moving average price of $154.71 and a two-hundred day moving average price of $175.97. Inspire Medical Systems has a one year low of $123.00 and a one year high of $225.00. The stock has a market cap of $4.32 billion, a P/E ratio of 84.60, a P/E/G ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Monday, May 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.33. The business had revenue of $201.32 million during the quarter, compared to the consensus estimate of $194.89 million. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. Inspire Medical Systems’s revenue was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.34) EPS. As a group, equities research analysts anticipate that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

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.