Inspire Medical Systems (NYSE:INSP) Price Target Cut to $235.00 by Analysts at Truist Financial

Inspire Medical Systems (NYSE:INSP) had its price target dropped by Truist Financial from $250.00 to $235.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 32.42% from the stock’s previous close.

Several other analysts also recently commented on the stock. Stifel Nicolaus decreased their price objective on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Robert W. Baird dropped their price objective on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a research note on Tuesday. Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $220.00 to $255.00 in a research note on Wednesday, November 20th. Wells Fargo & Company decreased their price objective on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Morgan Stanley decreased their price objective on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $228.82.

Inspire Medical Systems Stock Performance

Shares of NYSE:INSP traded down $3.53 during trading on Tuesday, reaching $177.46. 870,713 shares of the stock traded hands, compared to its average volume of 600,021. The stock has a 50-day moving average of $189.57 and a two-hundred day moving average of $190.98. Inspire Medical Systems has a 52-week low of $123.00 and a 52-week high of $257.40. The stock has a market cap of $5.32 billion, a P/E ratio of 165.84 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. Sell-side analysts expect that Inspire Medical Systems will post 1.33 earnings per share for the current year.

Institutional Trading of Inspire Medical Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INSP. First Horizon Advisors Inc. lifted its holdings in Inspire Medical Systems by 885.7% during the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares in the last quarter. True Wealth Design LLC purchased a new position in Inspire Medical Systems during the third quarter valued at $30,000. Farther Finance Advisors LLC lifted its holdings 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 purchasing an additional 139 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Inspire Medical Systems by 559.3% during the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after purchasing an additional 151 shares in the last quarter. Finally, Harbour Investments Inc. lifted its stake in shares of Inspire Medical Systems by 101.0% in the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock worth $37,000 after buying an additional 99 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

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.