Inspire Medical Systems (NYSE:INSP) Given New $190.00 Price Target at Stifel Nicolaus

Inspire Medical Systems (NYSE:INSP) had its price objective lowered by equities research analysts at Stifel Nicolaus from $200.00 to $190.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 3.15% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Piper Sandler reaffirmed an “overweight” rating and set a $260.00 target price (up previously from $255.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Wells Fargo & Company increased their target price on Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $220.00 to $255.00 in a research report on Wednesday, November 20th. Finally, Robert W. Baird increased their price objective on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $231.64.

Inspire Medical Systems Price Performance

NYSE:INSP traded up $6.52 during trading hours on Tuesday, hitting $184.20. The stock had a trading volume of 146,653 shares, compared to its average volume of 705,132. The company has a 50 day simple moving average of $188.70 and a two-hundred day simple moving average of $185.72. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 172.04 and a beta of 1.32. Inspire Medical Systems has a one year low of $123.00 and a one year high of $257.40.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly 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. The firm had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The company’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.29) EPS. Equities research analysts anticipate that Inspire Medical Systems will post 1.34 earnings per share for the current year.

Institutional Investors Weigh In On Inspire Medical Systems

Large investors have recently bought and sold shares of the business. True Wealth Design LLC purchased a new stake in Inspire Medical Systems during the 3rd quarter valued at $30,000. Farther Finance Advisors LLC increased its position in Inspire Medical Systems by 1,158.3% during the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after acquiring an additional 139 shares during the last quarter. GAMMA Investing LLC lifted its holdings in 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 period. Signaturefd LLC boosted its position in Inspire Medical Systems by 45.9% in the third quarter. Signaturefd LLC now owns 270 shares of the company’s stock worth $57,000 after purchasing 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 valued at $46,000 after purchasing an additional 176 shares during the period. 94.91% of the stock is currently 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.