Brokerages Set Inspire Medical Systems, Inc. (NYSE:INSP) PT at $211.91

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $211.91.

A number of brokerages have issued reports on INSP. Royal Bank of Canada reduced their price objective on shares of Inspire Medical Systems from $260.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley reduced their price objective on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Robert W. Baird increased their target price on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. cut their target price on shares of Inspire Medical Systems from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Finally, Stifel Nicolaus cut their target price on shares of Inspire Medical Systems from $190.00 to $175.00 and set a “hold” rating on the stock in a report on Monday, April 21st.

Inspire Medical Systems Stock Down 1.4%

NYSE:INSP opened at $126.86 on Friday. Inspire Medical Systems has a 12-month low of $123.00 and a 12-month high of $225.00. The firm has a market capitalization of $3.74 billion, a PE ratio of 73.33, a price-to-earnings-growth ratio of 2.86 and a beta of 1.28. The firm has a 50-day moving average price of $147.49 and a 200 day moving average price of $169.52.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.33. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. The firm had revenue of $201.32 million for the quarter, compared to analysts’ expectations of $194.89 million. During the same period in the prior year, the firm earned ($0.34) earnings per share. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. On average, research analysts expect that Inspire Medical Systems will post 2.16 EPS for the current year.

Insider Buying and Selling

In related news, Director Shawn Mccormick sold 360 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 24,046 shares in the company, valued at $3,847,360. This trade represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Inspire Medical Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INSP. Dragoneer Investment Group LLC acquired a new stake in Inspire Medical Systems in the 4th quarter valued at $161,486,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Inspire Medical Systems by 214.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,112,925 shares of the company’s stock worth $177,267,000 after buying an additional 759,090 shares during the period. TimesSquare Capital Management LLC bought a new stake in Inspire Medical Systems in the 4th quarter valued at about $80,419,000. Congress Asset Management Co. boosted its holdings in Inspire Medical Systems by 3,943.6% in the 1st quarter. Congress Asset Management Co. now owns 307,555 shares of the company’s stock valued at $48,987,000 after purchasing an additional 299,949 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Inspire Medical Systems by 1,775.3% in the 4th quarter. Marshall Wace LLP now owns 277,131 shares of the company’s stock valued at $51,375,000 after purchasing an additional 262,353 shares during the period. 94.91% of the stock is currently 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.