Morgan Stanley Has Lowered Expectations for Inspire Medical Systems (NYSE:INSP) Stock Price

Inspire Medical Systems (NYSE:INSP) had its price objective reduced by research analysts at Morgan Stanley from $230.00 to $220.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 21.57% from the stock’s previous close.

A number of other brokerages also recently issued reports on INSP. Wells Fargo & Company cut their target price on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a research note on Tuesday. Stifel Nicolaus cut their price objective on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Robert W. Baird boosted their target price on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Finally, KeyCorp reissued an “overweight” rating and set a $234.00 price objective (down previously from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Inspire Medical Systems has an average rating of “Moderate Buy” and an average price target of $229.64.

Inspire Medical Systems Price Performance

Shares of NYSE INSP opened at $180.96 on Tuesday. The stock has a fifty day moving average price of $189.72 and a 200 day moving average price of $190.66. Inspire Medical Systems has a 1-year low of $123.00 and a 1-year high of $257.40. The company has a market cap of $5.42 billion, a PE ratio of 169.12 and a beta of 1.32.

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

Institutional Trading of Inspire Medical Systems

Several institutional investors and hedge funds have recently modified their holdings of INSP. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Inspire Medical Systems in the 3rd quarter valued at approximately $1,929,000. Thrivent Financial for Lutherans raised its holdings in shares of Inspire Medical Systems by 39.7% in the third quarter. Thrivent Financial for Lutherans now owns 110,580 shares of the company’s stock worth $23,337,000 after acquiring an additional 31,444 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Inspire Medical Systems by 798.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock valued at $56,530,000 after acquiring an additional 238,034 shares in the last quarter. Merit Financial Group LLC acquired a new stake in shares of Inspire Medical Systems during the fourth quarter valued at $313,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Inspire Medical Systems by 3,812.6% during the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock valued at $29,777,000 after acquiring an additional 137,483 shares during the last quarter. Hedge funds and other institutional investors 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.