Inspire Medical Systems (NYSE:INSP) Given New $216.00 Price Target at KeyCorp

Inspire Medical Systems (NYSE:INSP) had its target price reduced by stock analysts at KeyCorp from $234.00 to $216.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 45.14% from the stock’s current price.

INSP has been the subject of a number of other reports. Truist Financial dropped their target price on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Wells Fargo & Company lowered their target price on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. Robert W. Baird cut their price target on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Piper Sandler decreased their price objective on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Finally, Royal Bank of Canada cut their target price on shares of Inspire Medical Systems from $260.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Inspire Medical Systems currently has an average rating of “Moderate Buy” and a consensus target price of $218.90.

Inspire Medical Systems Trading Up 2.9 %

Shares of NYSE:INSP opened at $148.82 on Monday. The firm has a market capitalization of $4.43 billion, a PE ratio of 86.03, a PEG ratio of 2.86 and a beta of 1.39. Inspire Medical Systems has a 1-year low of $123.00 and a 1-year high of $257.40. The business’s 50 day moving average is $164.54 and its 200-day moving average is $182.32.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, February 10th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. On average, sell-side analysts predict that Inspire Medical Systems will post 2.16 EPS for the current year.

Insiders Place Their Bets

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the sale, the chief technology officer now owns 10,424 shares of the company’s stock, valued at approximately $1,777,187.76. The trade was a 5.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Randy Ban sold 25,584 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the completion of the transaction, the insider now directly owns 7,259 shares in the company, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Inspire Medical Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INSP. Vanguard Group Inc. grew its position in shares of Inspire Medical Systems by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company’s stock worth $606,259,000 after buying an additional 38,219 shares during the period. Dragoneer Investment Group LLC acquired a new position in Inspire Medical Systems during the fourth quarter valued at approximately $161,486,000. Invesco Ltd. increased its stake in Inspire Medical Systems by 14.3% in the fourth quarter. Invesco Ltd. now owns 793,080 shares of the company’s stock valued at $147,021,000 after purchasing an additional 99,030 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Inspire Medical Systems by 12.9% in the fourth quarter. Janus Henderson Group PLC now owns 567,312 shares of the company’s stock worth $105,173,000 after purchasing an additional 64,703 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Inspire Medical Systems by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 486,341 shares of the company’s stock worth $90,188,000 after purchasing an additional 2,687 shares in the last quarter. 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.