Brokerages Set Inspire Medical Systems, Inc. (NYSE:INSP) Target Price at $233.58

Shares of Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twelve ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $233.58.

Several brokerages have weighed in on INSP. Bank of America raised Inspire Medical Systems from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $220.00 to $255.00 in a research note on Wednesday, November 20th. Royal Bank of Canada restated an "outperform" rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Truist Financial reiterated a "buy" rating and set a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Robert W. Baird upped their price target on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th. Finally, Piper Sandler reissued an "overweight" rating and issued a $260.00 price objective (up previously from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th.

Inspire Medical Systems Stock Performance

INSP traded down $5.72 during trading on Tuesday, reaching $169.71. 728,103 shares of the company traded hands, compared to its average volume of 817,874. The company has a market cap of $5.09 billion, a P/E ratio of 158.61 and a beta of 1.32. Inspire Medical Systems has a 12-month low of $123.00 and a 12-month high of $257.40. The firm has a fifty day simple moving average of $191.37 and a 200 day simple moving average of $184.30.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The company had revenue of $203.20 million for the quarter, compared to analysts' expectations of $197.59 million. During the same quarter in the previous year, the business posted ($0.29) earnings per share. Inspire Medical Systems's quarterly revenue was up 32.6% on a year-over-year basis. As a group, sell-side analysts expect that Inspire Medical Systems will post 1.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inspire Medical Systems

A number of large investors have recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in Inspire Medical Systems in the third quarter worth about $30,000. Farther Finance Advisors LLC boosted its stake in Inspire Medical Systems by 1,158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company's stock worth $32,000 after purchasing an additional 139 shares in the last quarter. GAMMA Investing LLC grew its position in Inspire Medical Systems by 559.3% during the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company's stock worth $38,000 after purchasing an additional 151 shares during the last quarter. Signaturefd LLC increased its stake in Inspire Medical Systems by 45.9% during the 3rd quarter. Signaturefd LLC now owns 270 shares of the company's stock valued at $57,000 after purchasing an additional 85 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of Inspire Medical Systems by 105.4% in the second quarter. Quarry LP now owns 343 shares of the company's stock worth $46,000 after buying an additional 176 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

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.