Brokerages Set Inspire Medical Systems, Inc. (NYSE:INSP) Price Target at $226.70

Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the ten analysts that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $226.70.

A number of equities analysts have recently commented on the stock. Piper Sandler cut their target price 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. Robert W. Baird reduced their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 11th. Royal Bank of Canada reiterated an "outperform" rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, February 11th. Truist Financial reduced their price target on Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Finally, KeyCorp reaffirmed an "overweight" rating and issued a $234.00 price objective (down previously from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th.

Inspire Medical Systems Price Performance

INSP stock traded down $0.15 during trading on Friday, reaching $159.14. 132,842 shares of the stock traded hands, compared to its average volume of 540,308. The firm has a market capitalization of $4.74 billion, a PE ratio of 92.31, a P/E/G ratio of 2.86 and a beta of 1.48. The business's 50 day moving average price is $178.78 and its 200-day moving average price is $189.61. Inspire Medical Systems has a 52-week low of $123.00 and a 52-week high of $257.40.

Remove Ads

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

Insider Transactions at Inspire Medical Systems

In other news, insider Randy Ban sold 25,584 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the transaction, the insider now owns 7,259 shares of the company's stock, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the completion of the transaction, the chief technology officer now owns 10,424 shares of the company's stock, valued at $1,777,187.76. This trade represents a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,225 shares of company stock valued at $4,806,530. 4.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Inspire Medical Systems

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mutual of America Capital Management LLC increased its stake in Inspire Medical Systems by 1.2% during the fourth quarter. Mutual of America Capital Management LLC now owns 4,540 shares of the company's stock valued at $842,000 after purchasing an additional 55 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of Inspire Medical Systems by 39.0% in the 4th quarter. True Wealth Design LLC now owns 196 shares of the company's stock valued at $36,000 after buying an additional 55 shares during the period. Captrust Financial Advisors grew its position in shares of Inspire Medical Systems by 2.0% during the 4th quarter. Captrust Financial Advisors now owns 3,034 shares of the company's stock valued at $562,000 after buying an additional 59 shares during the last quarter. MML Investors Services LLC lifted its holdings in Inspire Medical Systems by 0.9% in the fourth quarter. MML Investors Services LLC now owns 7,941 shares of the company's stock worth $1,472,000 after acquiring an additional 67 shares during the last quarter. Finally, Mariner LLC lifted its holdings in Inspire Medical Systems by 1.6% in the fourth quarter. Mariner LLC now owns 4,837 shares of the company's stock worth $897,000 after acquiring an additional 77 shares during the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

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.