Brokerages Set Inspire Medical Systems, Inc. (NYSE:INSP) Price Target at $214.85

Inspire Medical Systems, Inc. (NYSE:INSP) has been assigned an average rating of “Moderate Buy” from the fourteen analysts that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $214.85.

Several brokerages have recently commented on INSP. Robert W. Baird reduced their target price on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Leerink Partners boosted their price objective on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research note on Tuesday. Bank of America lowered their target price on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating for the company in a research note on Monday, June 3rd. KeyCorp cut their price target on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research report on Wednesday, August 7th.

Insider Activity at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction on Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the completion of the sale, the director now directly owns 23,140 shares of the company’s stock, valued at $5,090,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Shawn Mccormick sold 800 shares of the business’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 $5,090,800. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Randy Ban sold 4,861 shares of the stock in a transaction 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 sale, the insider now owns 3,056 shares in the company, valued at $576,208.80. The disclosure for this sale can be found here. Insiders have sold 5,692 shares of company stock worth $1,099,207 over the last ninety days. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. SouthState Corp bought a new stake in Inspire Medical Systems in the 2nd quarter valued at $27,000. Principal Securities Inc. acquired a new stake in shares of Inspire Medical Systems in the fourth quarter valued at approximately $54,000. Quarry LP lifted its position in shares of Inspire Medical Systems by 105.4% in the second quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after purchasing an additional 176 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Inspire Medical Systems during the second quarter worth $53,000. Finally, RiverPark Advisors LLC grew its position in Inspire Medical Systems by 360.1% in the first quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock valued at $166,000 after purchasing an additional 605 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Performance

Shares of NYSE INSP opened at $203.99 on Wednesday. The business has a fifty day moving average of $168.99 and a two-hundred day moving average of $181.09. Inspire Medical Systems has a 52-week low of $123.00 and a 52-week high of $257.40. The stock has a market cap of $6.08 billion, a PE ratio of -370.89 and a beta of 1.33.

Inspire Medical Systems (NYSE:INSP) last announced 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 firm had revenue of $195.89 million during the quarter, compared to the consensus estimate of $189.08 million. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The firm’s quarterly revenue was up 29.6% on a year-over-year basis. During the same period last year, the firm posted ($0.41) EPS. Analysts predict that Inspire Medical Systems will post 0.75 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.