KeyCorp Reaffirms “Overweight” Rating for Inspire Medical Systems (NYSE:INSP)

Inspire Medical Systems (NYSE:INSP)‘s stock had its “overweight” rating reaffirmed by equities researchers at KeyCorp in a research note issued on Friday,Benzinga reports. They currently have a $234.00 price target on the stock, down from their previous price target of $236.00. KeyCorp’s price objective would indicate a potential upside of 23.96% from the stock’s previous close.

A number of other equities research analysts have also commented on the stock. Robert W. Baird upped their price target on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Wells Fargo & Company increased their target price on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Piper Sandler restated an “overweight” rating and set a $260.00 price target (up previously from $255.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Truist Financial reiterated a “buy” rating and issued a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Finally, Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and boosted their target price for the company from $220.00 to $255.00 in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $231.45.

Inspire Medical Systems Stock Up 0.6 %

Inspire Medical Systems stock opened at $188.77 on Friday. The firm has a fifty day simple moving average of $189.32 and a two-hundred day simple moving average of $186.43. Inspire Medical Systems has a twelve month low of $123.00 and a twelve month high of $257.40. The company has a market capitalization of $5.66 billion, a PE ratio of 176.42 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. During the same period last year, the company earned ($0.29) EPS. Inspire Medical Systems’s revenue for the quarter was up 32.6% compared to the same quarter last year. As a group, equities analysts expect that Inspire Medical Systems will post 1.35 earnings per share for the current fiscal year.

Institutional Trading of Inspire Medical Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in Inspire Medical Systems by 79.7% during the second quarter. Dimensional Fund Advisors LP now owns 109,560 shares of the company’s stock worth $14,663,000 after acquiring an additional 48,590 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Inspire Medical Systems by 4.1% during the second quarter. Amalgamated Bank now owns 2,005 shares of the company’s stock valued at $268,000 after purchasing an additional 79 shares during the last quarter. Xponance Inc. grew its stake in shares of Inspire Medical Systems by 5.6% in the 2nd quarter. Xponance Inc. now owns 3,924 shares of the company’s stock worth $525,000 after buying an additional 209 shares during the last quarter. Marshall Wace LLP bought a new position in Inspire Medical Systems during the 2nd quarter valued at approximately $5,417,000. Finally, AQR Capital Management LLC raised its stake in Inspire Medical Systems by 152.7% during the second quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock valued at $31,028,000 after buying an additional 140,090 shares during the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

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.