Royal Bank of Canada Reaffirms Outperform Rating for Inspire Medical Systems (NYSE:INSP)

Inspire Medical Systems (NYSE:INSP)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank of Canada in a note issued to investors on Tuesday,Benzinga reports. They currently have a $260.00 target price on the stock. Royal Bank of Canada’s target price suggests a potential upside of 45.59% from the stock’s current price.

Several other research firms have also recently weighed in on INSP. Robert W. Baird reduced their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a research report on Tuesday. Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and increased their price target for the company from $220.00 to $255.00 in a report on Wednesday, November 20th. Morgan Stanley dropped their price objective on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday. Wells Fargo & Company decreased their target price on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Piper Sandler cut their price target on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a report on Monday. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $229.27.

Inspire Medical Systems Trading Down 1.3 %

Inspire Medical Systems stock traded down $2.41 on Tuesday, reaching $178.58. 807,545 shares of the stock were exchanged, compared to its average volume of 597,434. Inspire Medical Systems has a twelve month low of $123.00 and a twelve month high of $257.40. The firm has a fifty day moving average price of $189.57 and a two-hundred day moving average price of $190.98. The stock has a market cap of $5.35 billion, a PE ratio of 166.87 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. Equities analysts anticipate that Inspire Medical Systems will post 1.33 EPS for the current fiscal year.

Institutional Trading of Inspire Medical Systems

Several institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas boosted its position in Inspire Medical Systems by 171.9% in the fourth quarter. Teacher Retirement System of Texas now owns 13,679 shares of the company’s stock valued at $2,536,000 after buying an additional 8,649 shares in the last quarter. Xponance Inc. raised its stake in shares of Inspire Medical Systems by 2.2% in the fourth quarter. Xponance Inc. now owns 3,824 shares of the company’s stock valued at $709,000 after acquiring an additional 82 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Inspire Medical Systems by 16.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 129,120 shares of the company’s stock worth $23,937,000 after acquiring an additional 18,540 shares in the last quarter. Harbour Investments Inc. grew its position in Inspire Medical Systems by 101.0% during the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock worth $37,000 after acquiring an additional 99 shares during the last quarter. Finally, Monimus Capital Management LP acquired a new stake in Inspire Medical Systems during the 4th quarter valued at $5,099,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

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.