Inspire Medical Systems, Inc. (NYSE:INSP) Receives $251.20 Average Target Price from Analysts

Inspire Medical Systems, Inc. (NYSE:INSP) has been assigned a consensus rating of “Moderate Buy” from the sixteen research firms that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $251.20.

A number of research firms recently issued reports on INSP. Stifel Nicolaus decreased their price objective on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Royal Bank of Canada initiated coverage on shares of Inspire Medical Systems in a report on Friday, April 19th. They issued an “outperform” rating and a $285.00 price target on the stock. Truist Financial reaffirmed a “buy” rating and set a $280.00 price objective on shares of Inspire Medical Systems in a research note on Wednesday, March 20th. Morgan Stanley began coverage on shares of Inspire Medical Systems in a research note on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 target price on the stock. Finally, Piper Sandler raised their price target on shares of Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th.

Insider Buying and Selling

In related news, CFO Richard Buchholz sold 15,000 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the completion of the sale, the chief financial officer now directly owns 28,271 shares in the company, valued at approximately $6,503,178.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Inspire Medical Systems

Several institutional investors and hedge funds have recently bought and sold shares of the business. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Inspire Medical Systems during the fourth quarter valued at about $27,000. Headinvest LLC purchased a new position in shares of Inspire Medical Systems in the 3rd quarter valued at approximately $48,000. Principal Securities Inc. bought a new stake in shares of Inspire Medical Systems during the fourth quarter valued at approximately $54,000. International Assets Investment Management LLC purchased a new stake in Inspire Medical Systems in the fourth quarter worth $166,000. Finally, RiverPark Advisors LLC lifted its position in Inspire Medical Systems by 360.1% during the first quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock valued at $166,000 after buying an additional 605 shares during the period. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Performance

Shares of INSP stock opened at $133.83 on Friday. The firm’s 50-day simple moving average is $177.05 and its two-hundred day simple moving average is $192.52. Inspire Medical Systems has a 52 week low of $123.27 and a 52 week high of $330.00. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of -243.33 and a beta of 1.33.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Tuesday, May 7th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.29. The firm had revenue of $164.01 million during the quarter, compared to the consensus estimate of $161.41 million. Inspire Medical Systems had a negative net margin of 2.38% and a negative return on equity of 2.82%. The company’s revenue was up 28.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.53) earnings per share. Analysts forecast that Inspire Medical Systems will post 0.16 earnings per share 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.