Inspire Medical Systems, Inc. (NYSE:INSP) Receives $219.79 Consensus Price Target from Analysts

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have earned a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $219.79.

A number of equities research analysts have recently commented on INSP shares. Piper Sandler increased their target price 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. KeyCorp cut their target price on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Robert W. Baird cut their target price on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Bank of America cut their target price on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. Finally, Morgan Stanley cut their target price on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the transaction, the insider now owns 3,056 shares of the company’s stock, valued at $576,208.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. SouthState Corp bought a new position in shares of Inspire Medical Systems in the second quarter worth about $27,000. Principal Securities Inc. bought a new position in shares of Inspire Medical Systems in the fourth quarter worth about $54,000. Quarry LP raised its stake in shares of Inspire Medical Systems by 105.4% in the second quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after buying an additional 176 shares during the period. Daiwa Securities Group Inc. bought a new position in shares of Inspire Medical Systems in the second quarter worth about $53,000. Finally, RiverPark Advisors LLC raised its stake in shares of Inspire Medical Systems by 360.1% in the first quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock worth $166,000 after buying an additional 605 shares during the period. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Up 2.7 %

Shares of INSP stock opened at $191.38 on Friday. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of -347.96 and a beta of 1.31. The business’s fifty day moving average is $154.46 and its 200 day moving average is $181.08. Inspire Medical Systems has a twelve month low of $123.00 and a twelve month high of $257.40.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.46. Inspire Medical Systems had a negative return on equity of 2.82% and a negative net margin of 2.38%. The company had revenue of $195.89 million for the quarter, compared to analysts’ expectations of $189.08 million. During the same period in the prior year, the firm earned ($0.41) earnings per share. The firm’s revenue for the quarter was up 29.6% on a year-over-year basis. Equities research analysts expect that Inspire Medical Systems will post 0.15 earnings per share 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.