Inspire Medical Systems, Inc. (NYSE:INSP) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report) has earned an average recommendation of "Moderate Buy" from the ten brokerages that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $218.90.

INSP has been the subject of a number of recent analyst reports. KeyCorp dropped their price target on shares of Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Morgan Stanley reduced their price target on Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 11th. Robert W. Baird decreased their price objective on shares of Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating for the company in a research report on Tuesday, February 11th. Piper Sandler lowered their price target on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Finally, Truist Financial cut their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock traded up $0.77 during mid-day trading on Thursday, reaching $158.97. 315,939 shares of the stock traded hands, compared to its average volume of 583,830. Inspire Medical Systems has a 12-month low of $123.00 and a 12-month high of $257.40. The business's 50-day moving average is $162.86 and its 200-day moving average is $181.25. The stock has a market capitalization of $4.73 billion, a PE ratio of 91.89, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. Equities analysts anticipate that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction that occurred 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 transaction, the chief technology officer now directly owns 10,424 shares of the company's stock, valued at $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Randy Ban sold 25,584 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the transaction, the insider now owns 7,259 shares in the company, valued at approximately $1,332,026.50. This 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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC acquired a new position in shares of Inspire Medical Systems during the third quarter valued at $320,000. Synovus Financial Corp raised its position in Inspire Medical Systems by 7.5% during the third quarter. Synovus Financial Corp now owns 3,502 shares of the company's stock valued at $739,000 after acquiring an additional 244 shares in the last quarter. Oddo BHF Asset Management Sas bought a new position in shares of Inspire Medical Systems in the 3rd quarter valued at approximately $1,208,000. Principal Financial Group Inc. boosted its stake in Inspire Medical Systems by 3,812.6% during the 3rd quarter. Principal Financial Group Inc. now owns 141,089 shares of the company's stock valued at $29,777,000 after purchasing an additional 137,483 shares during the period. Finally, Diversified Trust Co raised its position in shares of Inspire Medical Systems by 3.8% during the fourth quarter. Diversified Trust Co now owns 4,686 shares of the company's stock valued at $869,000 after buying an additional 173 shares during 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.