Inspire Medical Systems, Inc. (NYSE:INSP) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twelve brokerages that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $233.58.

A number of equities analysts have recently issued reports on INSP shares. Robert W. Baird increased their target price on Inspire Medical Systems from $240.00 to $252.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Royal Bank of Canada reiterated an "outperform" rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Piper Sandler reissued an "overweight" rating and set a $260.00 price objective (up from $255.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Leerink Partners upped their target price on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the stock a "market perform" rating in a report on Tuesday, September 10th. Finally, Stifel Nicolaus reiterated a "hold" rating and set a $200.00 target price (up previously from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th.

Inspire Medical Systems Trading Up 1.3 %

INSP traded up $2.35 during midday trading on Friday, reaching $187.77. The company's stock had a trading volume of 876,574 shares, compared to its average volume of 587,727. Inspire Medical Systems has a twelve month low of $123.00 and a twelve month high of $257.40. The company has a fifty day simple moving average of $192.82 and a 200 day simple moving average of $179.39. The stock has a market cap of $5.63 billion, a P/E ratio of 175.49 and a beta of 1.31.

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

Hedge Funds Weigh In On Inspire Medical Systems

Institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its stake in shares of Inspire Medical Systems by 118.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,079 shares of the company's stock valued at $412,000 after buying an additional 1,670 shares during the period. Fifth Third Bancorp acquired a new stake in Inspire Medical Systems in the second quarter worth about $172,000. Bank of New York Mellon Corp raised its holdings in Inspire Medical Systems by 32.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company's stock worth $105,433,000 after purchasing an additional 192,238 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Inspire Medical Systems by 13.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,764 shares of the company's stock valued at $905,000 after purchasing an additional 806 shares during the period. Finally, Azzad Asset Management Inc. ADV lifted its position in Inspire Medical Systems by 61.2% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 10,956 shares of the company's stock valued at $1,466,000 after purchasing an additional 4,160 shares during the period. 94.91% of the stock is owned by institutional investors.

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.