Royal Bank of Canada Reiterates Outperform Rating for Inspire Medical Systems (NYSE:INSP)

Inspire Medical Systems (NYSE:INSP - Get Free Report)'s stock had its "outperform" rating restated by analysts at Royal Bank of Canada in a note issued to investors on Tuesday, Benzinga reports. They presently have a $260.00 price objective on the stock. Royal Bank of Canada's target price would suggest a potential upside of 30.65% from the stock's current price.

A number of other brokerages have also recently commented on INSP. Robert W. Baird raised their price target on Inspire Medical Systems from $240.00 to $252.00 and gave the stock an "outperform" rating in a research report on Tuesday. KeyCorp reduced their target price on Inspire Medical Systems from $278.00 to $236.00 and set an "overweight" rating on the stock in a report on Wednesday, August 7th. Leerink Partners upped their price objective on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a "market perform" rating in a research report on Tuesday, September 10th. Wells Fargo & Company lifted their target price on Inspire Medical Systems from $187.00 to $198.00 and gave the company an "equal weight" rating in a research report on Tuesday. Finally, Truist Financial restated a "buy" rating and issued a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Inspire Medical Systems presently has a consensus rating of "Moderate Buy" and an average price target of $227.75.

Inspire Medical Systems Stock Performance

Shares of NYSE INSP traded up $6.30 during trading hours on Tuesday, reaching $199.01. 1,590,157 shares of the stock were exchanged, compared to its average volume of 599,737. The stock's fifty day simple moving average is $201.15 and its 200 day simple moving average is $179.93. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 1,085.44 and a beta of 1.36. Inspire Medical Systems has a 52 week low of $123.00 and a 52 week high of $257.40.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.54. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The business had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. During the same period last year, the firm earned ($0.29) earnings per share. Inspire Medical Systems's revenue for the quarter was up 32.6% compared to the same quarter last year. Research analysts predict that Inspire Medical Systems will post 0.75 EPS for the current fiscal year.

Insider Activity at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 800 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the completion of the sale, the director now owns 23,140 shares of the company's stock, valued at $5,090,800. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Randy Ban sold 4,861 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the transaction, the insider now owns 3,056 shares in the company, valued at $576,208.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shawn Mccormick sold 800 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the sale, the director now directly owns 23,140 shares of the company's stock, valued at $5,090,800. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,692 shares of company stock worth $1,099,207 over the last quarter. Company insiders own 4.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its holdings in shares of 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 during the period. GAMMA Investing LLC increased its position in Inspire Medical Systems by 559.3% in the third quarter. GAMMA Investing LLC now owns 178 shares of the company's stock worth $38,000 after buying an additional 151 shares during the last quarter. SouthState Corp bought a new stake in shares of Inspire Medical Systems in the second quarter valued at $27,000. Signaturefd LLC lifted its position in shares of 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 buying an additional 85 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Inspire Medical Systems by 105.4% during the 2nd quarter. Quarry LP now owns 343 shares of the company's stock worth $46,000 after acquiring an additional 176 shares during the period. Institutional investors own 94.91% of the company's stock.

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.