Inspire Medical Systems (NYSE:INSP) Given New $248.00 Price Target at Robert W. Baird

Inspire Medical Systems (NYSE:INSP) had its target price lowered by stock analysts at Robert W. Baird from $252.00 to $248.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 37.05% from the stock’s previous close.

Several other analysts have also issued reports on the stock. Stifel Nicolaus reduced 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 report on Tuesday, January 21st. Piper Sandler dropped their target price on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a research report on Monday. Wells Fargo & Company dropped 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 report on Tuesday. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $220.00 to $255.00 in a research report on Wednesday, November 20th. Finally, Morgan Stanley dropped their target price on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating for the company in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $229.27.

Inspire Medical Systems Stock Down 0.7 %

Shares of INSP opened at $180.96 on Tuesday. Inspire Medical Systems has a 52-week low of $123.00 and a 52-week high of $257.40. The firm’s fifty day moving average is $189.72 and its two-hundred day moving average is $190.66. The stock 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 posted its quarterly 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 return on equity of 5.30% and a net margin of 4.37%. As a group, research analysts anticipate that Inspire Medical Systems will post 1.33 earnings per share for the current year.

Hedge Funds Weigh In On Inspire Medical Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP boosted its holdings in Inspire Medical Systems by 1.6% in the third quarter. Wasatch Advisors LP now owns 1,323,470 shares of the company’s stock valued at $279,318,000 after purchasing an additional 20,481 shares in the last quarter. State Street Corp boosted its holdings in Inspire Medical Systems by 78.0% in the third quarter. State Street Corp now owns 1,049,784 shares of the company’s stock valued at $221,557,000 after purchasing an additional 459,990 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Inspire Medical Systems by 5.8% in the third quarter. Janus Henderson Group PLC now owns 502,609 shares of the company’s stock valued at $106,075,000 after purchasing an additional 27,374 shares in the last quarter. Geode Capital Management LLC lifted its stake in Inspire Medical Systems by 0.7% in the third quarter. Geode Capital Management LLC now owns 483,654 shares of the company’s stock valued at $102,102,000 after buying an additional 3,128 shares during the last quarter. Finally, TimesSquare Capital Management LLC purchased a new stake in Inspire Medical Systems in the fourth quarter valued at approximately $80,419,000. 94.91% of the stock is owned by institutional investors and hedge funds.

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.