Inspire Medical Systems (NYSE:INSP) Price Target Cut to $210.00

Inspire Medical Systems (NYSE:INSP) had its price objective cut by Morgan Stanley from $250.00 to $210.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 54.06% from the company’s current price.

Other equities analysts have also issued reports about the company. Mizuho reissued a “buy” rating and set a $250.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. Truist Financial restated a “buy” rating and issued a $280.00 target price on shares of Inspire Medical Systems in a research note on Wednesday, March 20th. Bank of America lowered their price target on shares of Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating for the company in a report on Monday, June 3rd. Stifel Nicolaus decreased their price objective on shares of Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Finally, Piper Sandler raised their target price on Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Inspire Medical Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.53.

Inspire Medical Systems Stock Performance

INSP traded down $2.58 on Monday, reaching $136.31. 171,335 shares of the company’s stock were exchanged, compared to its average volume of 589,310. The company has a market cap of $4.05 billion, a price-to-earnings ratio of -247.84 and a beta of 1.31. Inspire Medical Systems has a twelve month low of $123.27 and a twelve month high of $328.70. The company’s 50 day moving average is $156.30 and its 200-day moving average is $188.46.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.29. Inspire Medical Systems had a negative net margin of 2.38% and a negative return on equity of 2.82%. The company had revenue of $164.01 million during the quarter, compared to analyst estimates of $161.41 million. During the same quarter in the prior year, the business earned ($0.53) earnings per share. The business’s quarterly revenue was up 28.2% compared to the same quarter last year. Sell-side analysts forecast that Inspire Medical Systems will post 0.16 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Richard Buchholz sold 15,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 28,271 shares in the company, valued at $6,503,178.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Inspire Medical Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its stake in Inspire Medical Systems by 114.2% during the 2nd quarter. SG Americas Securities LLC now owns 6,228 shares of the company’s stock valued at $833,000 after buying an additional 3,321 shares during the period. CWM LLC increased its stake in shares of Inspire Medical Systems by 101.6% during the second quarter. CWM LLC now owns 1,246 shares of the company’s stock valued at $167,000 after acquiring an additional 628 shares during the period. American Trust raised its holdings in Inspire Medical Systems by 14.2% during the first quarter. American Trust now owns 1,905 shares of the company’s stock worth $409,000 after purchasing an additional 237 shares in the last quarter. Kopp Family Office LLC raised its holdings in Inspire Medical Systems by 23.6% during the first quarter. Kopp Family Office LLC now owns 41,054 shares of the company’s stock worth $8,818,000 after purchasing an additional 7,829 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its position in Inspire Medical Systems by 27.1% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 40,501 shares of the company’s stock worth $8,699,000 after purchasing an additional 8,625 shares during the period. 94.91% of the stock is currently owned by institutional investors.

About Inspire Medical Systems

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.