Inspire Medical Systems (NYSE:INSP) Coverage Initiated by Analysts at Royal Bank of Canada

Stock analysts at Royal Bank of Canada initiated coverage on shares of Inspire Medical Systems (NYSE:INSP) in a research report issued to clients and investors on Friday, StockNewsAPI reports. The firm set an “outperform” rating and a $285.00 price target on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 18.20% from the company’s current price.

A number of other equities analysts also recently commented on the company. Jefferies Financial Group began coverage on Inspire Medical Systems in a research report on Friday, January 19th. They set a “buy” rating and a $245.00 price objective for the company. KeyCorp assumed coverage on shares of Inspire Medical Systems in a research report on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 price objective on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $210.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, January 2nd. Truist Financial reaffirmed a “buy” rating and set a $280.00 price target on shares of Inspire Medical Systems in a report on Wednesday, March 20th. Finally, Mizuho reiterated a “buy” rating and issued a $250.00 price objective on shares of Inspire Medical Systems in a report on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Inspire Medical Systems has an average rating of “Moderate Buy” and a consensus target price of $272.20.

Inspire Medical Systems Stock Down 1.0 %

Shares of NYSE INSP opened at $241.12 on Friday. The business’s 50 day moving average is $202.84 and its two-hundred day moving average is $183.76. Inspire Medical Systems has a 52-week low of $123.27 and a 52-week high of $330.00. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of -325.84 and a beta of 1.37.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.53. The firm had revenue of $192.51 million for the quarter, compared to the consensus estimate of $186.75 million. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The company’s quarterly revenue was up 39.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 EPS. Analysts anticipate that Inspire Medical Systems will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling at Inspire Medical Systems

In related news, insider Randy Ban sold 3,060 shares of Inspire Medical Systems stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total value of $556,950.60. Following the transaction, the insider now directly owns 3,029 shares in the company, valued at approximately $551,308.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Inspire Medical Systems news, insider Randy Ban sold 3,060 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $182.01, for a total transaction of $556,950.60. Following the transaction, the insider now owns 3,029 shares in the company, valued at approximately $551,308.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jerry C. Griffin sold 554 shares of Inspire Medical Systems stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.53, for a total value of $107,215.62. Following the completion of the sale, the director now owns 10,190 shares in the company, valued at $1,972,070.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,371 shares of company stock worth $15,664,278. 4.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP lifted its position in shares of Inspire Medical Systems by 0.5% during the 1st quarter. Wasatch Advisors LP now owns 1,102,867 shares of the company’s stock valued at $236,885,000 after acquiring an additional 5,522 shares during the period. Diversified Trust Co raised its position in shares of Inspire Medical Systems by 26.6% during the 1st quarter. Diversified Trust Co now owns 5,471 shares of the company’s stock worth $1,175,000 after purchasing an additional 1,150 shares during the last quarter. Private Ocean LLC acquired a new stake in Inspire Medical Systems in the 1st quarter worth about $2,738,000. Rheos Capital Works Inc. increased its stake in shares of Inspire Medical Systems by 25.8% during the 1st quarter. Rheos Capital Works Inc. now owns 79,400 shares of the company’s stock valued at $17,054,000 after acquiring an additional 16,300 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Inspire Medical Systems by 176,312.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 14,113 shares of the company’s stock worth $3,031,000 after acquiring an additional 14,105 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

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.