Inspire Medical Systems (NYSE:INSP) Given New $198.00 Price Target at Wells Fargo & Company

Inspire Medical Systems (NYSE:INSP - Get Free Report) had its price objective upped by equities research analysts at Wells Fargo & Company from $187.00 to $198.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target indicates a potential downside of 0.51% from the company's current price.

Other equities analysts also recently issued reports about the company. KeyCorp reduced their price objective on Inspire Medical Systems from $278.00 to $236.00 and set an "overweight" rating for the company in a research report on Wednesday, August 7th. Leerink Partners boosted their price target 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. Robert W. Baird raised their price target on Inspire Medical Systems from $240.00 to $252.00 and gave the company an "outperform" rating in a report on Tuesday. Truist Financial restated a "buy" rating and set a $240.00 price objective (up from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $227.75.

Inspire Medical Systems Trading Up 3.3 %

NYSE INSP traded up $6.30 during trading hours on Tuesday, reaching $199.01. The company's stock had a trading volume of 1,590,157 shares, compared to its average volume of 599,737. The stock has a market cap of $5.93 billion, a PE ratio of 1,105.61 and a beta of 1.36. The business has a 50-day simple moving average of $201.37 and a 200 day simple moving average of $179.72. 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 data on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.54. Inspire Medical Systems had a return on equity of 1.03% and a net margin of 0.85%. The business had revenue of $203.20 million during the quarter, compared to analyst estimates of $197.59 million. During the same quarter in the previous year, the firm posted ($0.29) EPS. The business's revenue for the quarter was up 32.6% compared to the same quarter last year. As a group, equities analysts predict that Inspire Medical Systems will post 0.75 EPS for the current year.

Insider Transactions at Inspire Medical Systems

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

Institutional Investors Weigh In On Inspire Medical Systems

A number of large investors have recently made changes to their positions in INSP. Farther Finance Advisors LLC boosted its position in Inspire Medical Systems by 1,158.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company's stock worth $32,000 after acquiring an additional 139 shares during the period. GAMMA Investing LLC grew its position in Inspire Medical Systems by 559.3% during the third quarter. GAMMA Investing LLC now owns 178 shares of the company's stock valued at $38,000 after purchasing an additional 151 shares in the last quarter. SouthState Corp acquired a new position in Inspire Medical Systems in the 2nd quarter valued at approximately $27,000. Signaturefd LLC lifted its position in Inspire Medical Systems by 45.9% in the 3rd quarter. Signaturefd LLC now owns 270 shares of the company's stock worth $57,000 after buying an additional 85 shares in the last quarter. Finally, Quarry LP boosted 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 valued at $46,000 after buying an additional 176 shares during the period. Institutional investors and hedge funds 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.