Inspire Medical Systems, Inc. (NYSE:INSP) Receives Consensus Rating of “Moderate Buy” from Analysts

Inspire Medical Systems, Inc. (NYSE:INSP) has been assigned an average recommendation of “Moderate Buy” from the twelve research firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $233.58.

A number of brokerages have commented on INSP. Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $220.00 to $255.00 in a research note on Wednesday, November 20th. Leerink Partners upped their price target on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. Piper Sandler reissued an “overweight” rating and issued a $260.00 price target (up previously from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Wells Fargo & Company raised their target price on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Truist Financial reiterated a “buy” rating and issued a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th.

Institutional Trading of Inspire Medical Systems

Large investors have recently modified their holdings of the company. SouthState Corp acquired a new stake in Inspire Medical Systems in the 2nd quarter valued at approximately $27,000. True Wealth Design LLC bought a new position in shares of Inspire Medical Systems during the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC grew its holdings in shares of Inspire Medical Systems by 1,158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock worth $32,000 after purchasing an additional 139 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Inspire Medical Systems by 559.3% in the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after acquiring an additional 151 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of Inspire Medical Systems by 105.4% during the second quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after purchasing an additional 176 shares during the last quarter. 94.91% of the stock is owned by institutional investors.

Inspire Medical Systems Trading Down 0.8 %

Shares of INSP stock opened at $185.42 on Friday. Inspire Medical Systems has a twelve month low of $123.00 and a twelve month high of $257.40. The firm has a fifty day simple moving average of $192.82 and a 200-day simple moving average of $179.39. The company has a market capitalization of $5.56 billion, a PE ratio of 173.29 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.54. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The business had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. During the same quarter in the prior year, the business posted ($0.29) EPS. The company’s revenue for the quarter was up 32.6% on a year-over-year basis. Equities research analysts predict that Inspire Medical Systems will post 1.33 EPS 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.