Brokerages Set Inspire Medical Systems, Inc. (NYSE:INSP) Target Price at $233.58

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have received a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $232.55.

INSP has been the subject of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Stifel Nicolaus restated a “hold” rating and set a $200.00 target price (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $220.00 to $255.00 in a report on Wednesday, November 20th. Wells Fargo & Company raised their price objective on Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $260.00 target price (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th.

Hedge Funds Weigh In On Inspire Medical Systems

Several hedge funds and other institutional investors have recently modified their holdings of INSP. Riverbridge Partners LLC acquired a new stake in Inspire Medical Systems in the 4th quarter valued at about $26,342,000. Janney Montgomery Scott LLC increased its holdings in shares of Inspire Medical Systems by 248.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,806 shares of the company’s stock valued at $891,000 after purchasing an additional 3,427 shares during the last quarter. SG Americas Securities LLC lifted its position in Inspire Medical Systems by 33.8% during the fourth quarter. SG Americas Securities LLC now owns 3,534 shares of the company’s stock worth $655,000 after buying an additional 892 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Inspire Medical Systems by 37.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 368 shares of the company’s stock worth $68,000 after buying an additional 100 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new stake in Inspire Medical Systems in the 4th quarter valued at $313,000. 94.91% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Stock Performance

NYSE:INSP opened at $177.97 on Tuesday. The firm’s fifty day moving average is $189.18 and its two-hundred day moving average is $185.41. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 166.33 and a beta of 1.32. Inspire Medical Systems has a one year low of $123.00 and a one year high of $257.40.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.54. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The firm had revenue of $203.20 million for the quarter, compared to the consensus estimate of $197.59 million. During the same quarter in the prior year, the business earned ($0.29) earnings per share. The company’s revenue was up 32.6% compared to the same quarter last year. As a group, equities research analysts predict that Inspire Medical Systems will post 1.33 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.