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

Inspire Medical Systems (NYSE:INSP - Get Free Report) had its price target lowered by investment analysts at Morgan Stanley from $230.00 to $220.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Morgan Stanley's price target suggests a potential upside of 18.72% from the stock's previous close.

Several other research analysts have also recently weighed in on INSP. Robert W. Baird upped their price objective on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. KeyCorp restated an "overweight" rating and issued a $234.00 price objective (down from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Stifel Nicolaus decreased 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 reiterated an "outperform" rating and set a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Finally, Bank of America upgraded shares of Inspire Medical Systems from a "neutral" rating to a "buy" rating and increased their price target for the company from $220.00 to $255.00 in a research report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $228.82.

Inspire Medical Systems Price Performance

Shares of INSP traded down $1.84 during midday trading on Tuesday, hitting $185.31. 379,947 shares of the company traded hands, compared to its average volume of 615,460. The stock has a 50-day moving average of $189.11 and a 200-day moving average of $191.33. Inspire Medical Systems has a one year low of $123.00 and a one year high of $257.40. The firm has a market cap of $5.55 billion, a P/E ratio of 172.43 and a beta of 1.32.

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, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. Sell-side analysts forecast that Inspire Medical Systems will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of the 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 owns 10,424 shares in the company, valued at approximately $1,777,187.76. This represents a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Inspire Medical Systems

A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Inspire Medical Systems by 78.0% during the third quarter. State Street Corp now owns 1,049,784 shares of the company's stock valued at $221,557,000 after acquiring an additional 459,990 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in Inspire Medical Systems in the 4th quarter worth about $80,419,000. Point72 Asset Management L.P. increased its holdings in Inspire Medical Systems by 954.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company's stock worth $67,402,000 after buying an additional 289,075 shares in the last quarter. Marshall Wace LLP increased its holdings in Inspire Medical Systems by 1,775.3% in the 4th quarter. Marshall Wace LLP now owns 277,131 shares of the company's stock worth $51,375,000 after buying an additional 262,353 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Inspire Medical Systems in the 4th quarter worth about $47,604,000. 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.