Inspire Medical Systems' (INSP) "Overweight" Rating Reaffirmed at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Inspire Medical Systems (NYSE:INSP - Free Report) in a research note released on Tuesday morning, Benzinga reports. Piper Sandler currently has a $260.00 price objective on the stock, up from their prior price objective of $255.00.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada restated an "outperform" rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, August 7th. Wells Fargo & Company lifted their price objective on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the company an "equal weight" rating in a research report on Tuesday. Leerink Partners upped their price objective on shares of 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. KeyCorp dropped their price target on shares of Inspire Medical Systems from $278.00 to $236.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 7th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $227.75.

Inspire Medical Systems Trading Up 3.3 %

Inspire Medical Systems stock traded up $6.29 during trading on Tuesday, hitting $199.00. The company had a trading volume of 1,584,557 shares, compared to its average volume of 599,711. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 1,085.44 and a beta of 1.36. The company's 50 day simple moving average is $201.15 and its 200-day simple moving average is $179.93. Inspire Medical Systems has a 1-year low of $123.00 and a 1-year high of $257.40.

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

Insider Buying and Selling

In related news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction dated Monday, September 9th. The stock was 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 in the company, valued at approximately $5,090,800. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Randy Ban sold 4,861 shares of the company's stock in a transaction 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 completion of the transaction, the insider now directly owns 3,056 shares in the company, valued at approximately $576,208.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Shawn Mccormick sold 800 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the sale, the director now directly owns 23,140 shares in the company, valued at approximately $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 sold 5,692 shares of company stock worth $1,099,207 in the last ninety days. Insiders own 4.10% of the company's stock.

Institutional Investors Weigh In On Inspire Medical Systems

Institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its stake in shares of Inspire Medical Systems by 798.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company's stock worth $56,530,000 after buying an additional 238,034 shares during the last quarter. Bank of New York Mellon Corp grew its position in Inspire Medical Systems by 32.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company's stock worth $105,433,000 after purchasing an additional 192,238 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Inspire Medical Systems by 51.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company's stock valued at $98,754,000 after buying an additional 156,893 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Inspire Medical Systems by 152.7% during the second quarter. AQR Capital Management LLC now owns 231,845 shares of the company's stock worth $31,028,000 after buying an additional 140,090 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Inspire Medical Systems by 3,812.6% in the 3rd quarter. Principal Financial Group Inc. now owns 141,089 shares of the company's stock worth $29,777,000 after buying an additional 137,483 shares in the last quarter. 94.91% of the stock is currently owned by hedge funds and other 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.