KeyCorp Issues Pessimistic Forecast for Inspire Medical Systems (NYSE:INSP) Stock Price

Inspire Medical Systems (NYSE:INSP - Free Report) had its target price decreased by KeyCorp from $234.00 to $216.00 in a report issued on Monday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Royal Bank of Canada cut their price objective on shares of Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company cut their target price on Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 11th. Morgan Stanley decreased their price target on Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating for the company in a research note on Tuesday, February 11th. Finally, Robert W. Baird cut their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Inspire Medical Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $218.90.

Inspire Medical Systems Stock Up 0.5 %

Shares of Inspire Medical Systems stock traded up $0.77 during trading hours on Monday, reaching $158.97. 315,939 shares of the stock traded hands, compared to its average volume of 583,912. Inspire Medical Systems has a one year low of $123.00 and a one year high of $257.40. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 91.89, a P/E/G ratio of 2.86 and a beta of 1.39. The company has a 50 day moving average price of $162.86 and a 200 day moving average price of $181.43.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, beating 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%. Sell-side analysts anticipate that Inspire Medical Systems will post 2.16 earnings per share for the current year.

Insider Transactions at Inspire Medical Systems

In other news, CTO John Rondoni sold 583 shares of the business's stock in a transaction on 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 directly owns 10,424 shares of the company's stock, valued at approximately $1,777,187.76. The trade was a 5.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Randy Ban sold 25,584 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the sale, the insider now directly owns 7,259 shares in the company, valued at approximately $1,332,026.50. The trade was a 77.90 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On Inspire Medical Systems

A number of large investors have recently added to or reduced their stakes in INSP. First Horizon Advisors Inc. grew its position in shares of Inspire Medical Systems by 885.7% in the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company's stock worth $26,000 after buying an additional 124 shares during the last quarter. Huntington National Bank boosted its stake in Inspire Medical Systems by 228.3% in the fourth quarter. Huntington National Bank now owns 174 shares of the company's stock valued at $32,000 after acquiring an additional 121 shares in the last quarter. Parallel Advisors LLC grew its holdings in Inspire Medical Systems by 356.5% in the first quarter. Parallel Advisors LLC now owns 210 shares of the company's stock worth $33,000 after purchasing an additional 164 shares during the last quarter. True Wealth Design LLC increased its position in shares of Inspire Medical Systems by 39.0% during the fourth quarter. True Wealth Design LLC now owns 196 shares of the company's stock worth $36,000 after purchasing an additional 55 shares in the last quarter. Finally, Harbour Investments Inc. lifted its holdings in shares of Inspire Medical Systems by 101.0% during the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company's stock valued at $37,000 after purchasing an additional 99 shares during the last quarter. 94.91% of the stock is currently 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.