Inspire Medical Systems (NYSE:INSP) Receives Buy Rating from Truist Financial

Truist Financial restated their buy rating on shares of Inspire Medical Systems (NYSE:INSP) in a research report sent to investors on Monday, Benzinga reports. They currently have a $240.00 price target on the stock, up from their prior price target of $217.00.

Several other research firms also recently issued reports on INSP. Leerink Partners boosted their price target on Inspire Medical Systems from $167.00 to $197.00 and gave the company a market perform rating in a research note on Tuesday, September 10th. Royal Bank of Canada restated an outperform rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, August 7th. Bank of America cut their price objective on shares of Inspire Medical Systems from $225.00 to $185.00 and set a neutral rating for the company in a research report on Monday, June 3rd. KeyCorp decreased their target price on shares of Inspire Medical Systems from $278.00 to $236.00 and set an overweight rating on the stock in a report on Wednesday, August 7th. Finally, Morgan Stanley cut their price target on shares of Inspire Medical Systems from $250.00 to $210.00 and set an overweight rating for the company in a report on Monday, July 15th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $216.62.

Inspire Medical Systems Trading Up 4.2 %

Shares of NYSE INSP opened at $211.05 on Monday. Inspire Medical Systems has a 12 month low of $123.00 and a 12 month high of $257.40. The stock has a 50 day moving average of $184.45 and a 200-day moving average of $182.54. The company has a market capitalization of $6.27 billion, a P/E ratio of -383.73 and a beta of 1.33.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.46. The business had revenue of $195.89 million during the quarter, compared to the consensus estimate of $189.08 million. Inspire Medical Systems had a return on equity of 1.03% and a net margin of 0.85%. The firm’s quarterly revenue was up 29.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.41) EPS. Analysts predict that Inspire Medical Systems will post 0.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Randy Ban sold 4,861 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the completion of the transaction, the director now owns 23,140 shares in the company, valued at approximately $5,090,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the transaction, the insider now owns 3,056 shares in the company, valued at approximately $576,208.80. The disclosure for this sale can be found here. Insiders sold a total of 5,692 shares of company stock valued at $1,099,207 in the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Inspire Medical Systems

A number of institutional investors have recently bought and sold shares of INSP. Massmutual Trust Co. FSB ADV raised its holdings in shares of Inspire Medical Systems by 176,312.5% during the first quarter. Massmutual Trust Co. FSB ADV now owns 14,113 shares of the company’s stock valued at $3,031,000 after purchasing an additional 14,105 shares during the period. Bullseye Asset Management LLC raised its holdings in Inspire Medical Systems by 119.6% during the fourth quarter. Bullseye Asset Management LLC now owns 27,199 shares of the company’s stock worth $5,534,000 after buying an additional 14,812 shares during the last quarter. Private Ocean LLC bought a new position in shares of Inspire Medical Systems in the first quarter valued at $2,738,000. Russell Investments Group Ltd. grew its holdings in shares of Inspire Medical Systems by 98.9% during the first quarter. Russell Investments Group Ltd. now owns 31,933 shares of the company’s stock valued at $6,859,000 after buying an additional 15,877 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Inspire Medical Systems by 51.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock worth $98,754,000 after acquiring an additional 156,893 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

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.