Inspire Medical Systems, Inc. (NYSE:INSP) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have received a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $211.91.

Several research firms have commented on INSP. Piper Sandler cut their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Royal Bank of Canada dropped their price target on Inspire Medical Systems from $260.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Truist Financial decreased their price objective on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Stifel Nicolaus lowered their target price on shares of Inspire Medical Systems from $190.00 to $175.00 and set a “hold” rating on the stock in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Inspire Medical Systems from $235.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th.

Inspire Medical Systems Stock Performance

Shares of NYSE INSP opened at $152.66 on Monday. The firm has a fifty day moving average of $155.46 and a 200 day moving average of $176.65. The firm has a market cap of $4.50 billion, a PE ratio of 88.24, a PEG ratio of 2.86 and a beta of 1.39. Inspire Medical Systems has a one year low of $123.00 and a one year high of $225.00.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Monday, May 5th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.33. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. The business had revenue of $201.32 million during the quarter, compared to analysts’ expectations of $194.89 million. During the same quarter in the previous year, the company earned ($0.34) earnings per share. The company’s quarterly revenue was up 22.7% on a year-over-year basis. On average, equities analysts predict that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 360 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $160.00, for a total transaction of $57,600.00. Following the completion of the sale, the director now directly owns 24,046 shares in the company, valued at approximately $3,847,360. This trade represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Inspire Medical Systems

Several institutional investors and hedge funds have recently bought and sold shares of the company. Dragoneer Investment Group LLC purchased a new stake in shares of Inspire Medical Systems during the 4th quarter valued at approximately $161,486,000. TimesSquare Capital Management LLC acquired a new stake in Inspire Medical Systems during the fourth quarter worth $80,419,000. Congress Asset Management Co. raised its position in Inspire Medical Systems by 3,943.6% in the first quarter. Congress Asset Management Co. now owns 307,555 shares of the company’s stock valued at $48,987,000 after purchasing an additional 299,949 shares during the period. Marshall Wace LLP raised its position in Inspire Medical Systems by 1,775.3% in the fourth quarter. Marshall Wace LLP now owns 277,131 shares of the company’s stock valued at $51,375,000 after purchasing an additional 262,353 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Inspire Medical Systems in the 4th quarter valued at $47,604,000. 94.91% of the stock is currently 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.