Inspire Medical Systems (NYSE:INSP) had its price target lifted by analysts at SVB Leerink from $85.00 to $110.00 in a note issued to investors on Monday, The Fly reports. The brokerage currently has an “outperform” rating on the stock. SVB Leerink’s price target would indicate a potential upside of 29.98% from the company’s current price.
Several other research analysts have also weighed in on the company. Oppenheimer started coverage on Inspire Medical Systems in a research report on Wednesday, May 6th. They issued a “sell” rating and a $42.00 price objective for the company. Stifel Nicolaus increased their price objective on Inspire Medical Systems from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Wells Fargo & Co increased their price objective on Inspire Medical Systems from $81.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Piper Sandler upped their price target on Inspire Medical Systems from $81.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, June 18th. Finally, Lake Street Capital began coverage on Inspire Medical Systems in a research note on Monday, May 18th. They set a “buy” rating and a $90.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $80.55.
Shares of Inspire Medical Systems stock opened at $84.63 on Monday. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of -49.49 and a beta of 1.33. Inspire Medical Systems has a fifty-two week low of $40.53 and a fifty-two week high of $99.26. The company has a debt-to-equity ratio of 0.19, a quick ratio of 10.80 and a current ratio of 11.33. The stock has a 50 day moving average of $84.25 and a 200 day moving average of $75.30.
Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.10). The business had revenue of $21.30 million during the quarter, compared to analysts’ expectations of $21.35 million. Inspire Medical Systems had a negative return on equity of 29.14% and a negative net margin of 47.30%. The company’s revenue was up 30.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.35) earnings per share. Analysts forecast that Inspire Medical Systems will post -3.11 EPS for the current year.
In related news, Director Casey M. Tansey sold 100,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $84.04, for a total value of $8,404,000.00. Following the transaction, the director now owns 124,730 shares of the company’s stock, valued at $10,482,309.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Steven Jandrich sold 1,000 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $96.39, for a total value of $96,390.00. Following the completion of the transaction, the vice president now directly owns 2,805 shares in the company, valued at approximately $270,373.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,000 shares of company stock worth $10,452,750. Insiders own 6.60% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Flagship Harbor Advisors LLC grew its holdings in shares of Inspire Medical Systems by 54.5% during the first quarter. Flagship Harbor Advisors LLC now owns 425 shares of the company’s stock worth $26,000 after purchasing an additional 150 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Inspire Medical Systems during the first quarter worth about $45,000. Citigroup Inc. grew its holdings in shares of Inspire Medical Systems by 64.0% during the fourth quarter. Citigroup Inc. now owns 2,745 shares of the company’s stock worth $204,000 after purchasing an additional 1,071 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of Inspire Medical Systems during the fourth quarter worth about $215,000. Finally, Diversified Trust Co grew its holdings in shares of Inspire Medical Systems by 43.2% during the first quarter. Diversified Trust Co now owns 3,975 shares of the company’s stock worth $240,000 after purchasing an additional 1,200 shares during the last quarter. 86.89% of the stock is currently owned by hedge funds and other institutional investors.
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). It offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.
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