Stifel Nicolaus Cuts Inspire Medical Systems (NYSE:INSP) Price Target to $190.00

Inspire Medical Systems (NYSE:INSP) had its target price cut by analysts at Stifel Nicolaus from $200.00 to $190.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 0.60% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Wells Fargo & Company lifted their target price on Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Piper Sandler reissued an “overweight” rating and issued a $260.00 price target (up from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and raised their price objective for the company from $220.00 to $255.00 in a research note on Wednesday, November 20th. 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 note on Monday, September 30th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.64.

Inspire Medical Systems Stock Performance

INSP stock opened at $188.87 on Tuesday. The stock’s 50 day simple moving average is $188.58 and its 200 day simple moving average is $186.03. The company has a market cap of $5.66 billion, a P/E ratio of 176.51 and a beta of 1.32. Inspire Medical Systems has a fifty-two week low of $123.00 and a fifty-two week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.60 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 during the quarter, compared to analyst estimates of $197.59 million. During the same quarter in the previous year, the business posted ($0.29) EPS. Inspire Medical Systems’s quarterly revenue was up 32.6% on a year-over-year basis. Equities analysts predict that Inspire Medical Systems will post 1.34 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC bought a new stake in shares of Inspire Medical Systems in the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC raised its stake in shares of Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after buying an additional 139 shares during the period. 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 buying an additional 151 shares during the period. Signaturefd LLC lifted its position in shares of Inspire Medical Systems by 45.9% during the 3rd quarter. Signaturefd LLC now owns 270 shares of the company’s stock valued at $57,000 after buying an additional 85 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Inspire Medical Systems by 105.4% during the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after acquiring an additional 176 shares during the period. 94.91% of the stock is currently owned by hedge funds and other 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.