Analysts Set Inspire Medical Systems, Inc. (NYSE:INSP) PT at $251.20

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have been given an average rating of “Moderate Buy” by the sixteen research firms that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $251.20.

INSP has been the subject of several research analyst reports. Stifel Nicolaus dropped their price target on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Truist Financial restated a “buy” rating and set a $280.00 price target on shares of Inspire Medical Systems in a research note on Wednesday, March 20th. Morgan Stanley initiated coverage on Inspire Medical Systems in a research note on Tuesday, March 19th. They set an “overweight” rating and a $250.00 price target for the company. Piper Sandler upped their price target on Inspire Medical Systems from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Finally, Bank of America dropped their price target on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating for the company in a research note on Monday, June 3rd.

Insider Activity

In related news, CFO Richard Buchholz sold 15,000 shares of Inspire Medical Systems stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total value of $3,450,450.00. Following the completion of the transaction, the chief financial officer now directly owns 28,271 shares in the company, valued at $6,503,178.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Inspire Medical Systems

A number of institutional investors have recently made changes to their positions in INSP. American Trust boosted its position in Inspire Medical Systems by 14.2% during the 1st quarter. American Trust now owns 1,905 shares of the company’s stock valued at $409,000 after purchasing an additional 237 shares during the period. Kopp Family Office LLC boosted its position in Inspire Medical Systems by 23.6% during the 1st quarter. Kopp Family Office LLC now owns 41,054 shares of the company’s stock valued at $8,818,000 after purchasing an additional 7,829 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in Inspire Medical Systems by 27.1% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 40,501 shares of the company’s stock valued at $8,699,000 after purchasing an additional 8,625 shares during the period. Comerica Bank boosted its position in Inspire Medical Systems by 12.0% during the 1st quarter. Comerica Bank now owns 79,030 shares of the company’s stock valued at $16,975,000 after purchasing an additional 8,454 shares during the period. Finally, Tidal Investments LLC acquired a new position in Inspire Medical Systems during the 1st quarter valued at approximately $1,151,000. 94.91% of the stock is currently owned by institutional investors.

Inspire Medical Systems Trading Down 3.2 %

Inspire Medical Systems stock opened at $134.27 on Friday. The firm has a market capitalization of $3.99 billion, a P/E ratio of -244.13 and a beta of 1.31. The stock has a fifty day moving average price of $173.32 and a 200 day moving average price of $191.79. Inspire Medical Systems has a 52 week low of $123.27 and a 52 week high of $330.00.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Tuesday, May 7th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.29. The firm had revenue of $164.01 million during the quarter, compared to analyst estimates of $161.41 million. Inspire Medical Systems had a negative return on equity of 2.82% and a negative net margin of 2.38%. The business’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.53) earnings per share. As a group, equities analysts predict that Inspire Medical Systems will post 0.16 EPS for the current 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.