Inspire Medical Systems (NYSE:INSP) Price Target Raised to $252.00

Inspire Medical Systems (NYSE:INSP) had its price objective upped by Robert W. Baird from $240.00 to $252.00 in a research report released on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research note on Wednesday, August 7th. KeyCorp reduced their price objective on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley lowered their price objective on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Leerink Partners raised their target price on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 10th. Finally, Truist Financial reissued a “buy” rating and issued a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $227.75.

Inspire Medical Systems Trading Up 1.6 %

INSP traded up $3.23 during midday trading on Tuesday, reaching $203.70. The company’s stock had a trading volume of 23,685 shares, compared to its average volume of 598,682. Inspire Medical Systems has a twelve month low of $123.00 and a twelve month high of $257.40. The stock has a market cap of $6.07 billion, a P/E ratio of 187.36 and a beta of 1.36. The company has a fifty day simple moving average of $201.94 and a 200 day simple moving average of $179.94.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.54. The business had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.51%. Inspire Medical Systems’s revenue was up 32.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.29) earnings per share. Sell-side analysts expect that Inspire Medical Systems will post 0.75 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the transaction, the director now owns 23,140 shares in the company, valued at approximately $5,090,800. The trade was a 0.00 % decrease in their ownership of the stock. 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 4,861 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the sale, the insider now owns 3,056 shares of the company’s stock, valued at $576,208.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 23,140 shares of the company’s stock, valued at $5,090,800. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,692 shares of company stock valued at $1,099,207. 4.10% of the stock is currently owned by insiders.

Institutional Trading of Inspire Medical Systems

Hedge funds have recently modified their holdings of the stock. SouthState Corp acquired a new position in Inspire Medical Systems during the 2nd quarter valued at about $27,000. Farther Finance Advisors LLC grew its position in shares of Inspire Medical Systems by 1,158.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock worth $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% during the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock worth $38,000 after buying an additional 151 shares during the last quarter. Quarry LP lifted its holdings in Inspire Medical Systems by 105.4% in the second quarter. Quarry LP now owns 343 shares of the company’s stock valued at $46,000 after buying an additional 176 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new position in Inspire Medical Systems in the second quarter valued at approximately $53,000. 94.91% of the stock is owned by 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) 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.