Piper Sandler Has Lowered Expectations for Inspire Medical Systems (NYSE:INSP) Stock Price

Inspire Medical Systems (NYSE:INSP - Get Free Report) had its price target lowered by analysts at Piper Sandler from $260.00 to $233.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's target price would suggest a potential upside of 24.45% from the stock's current price.

Other analysts have also issued research reports about the company. Bank of America raised Inspire Medical Systems from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $220.00 to $255.00 in a report on Wednesday, November 20th. Robert W. Baird lifted their price objective on Inspire Medical Systems from $240.00 to $252.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Stifel Nicolaus cut their price objective on Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating for the company in a report on Tuesday, January 21st. KeyCorp reissued an "overweight" rating and set a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Finally, Wells Fargo & Company boosted their price target on Inspire Medical Systems from $187.00 to $198.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Inspire Medical Systems presently has a consensus rating of "Moderate Buy" and an average price target of $228.82.

Inspire Medical Systems Price Performance

Shares of INSP traded up $0.22 during trading hours on Monday, hitting $187.23. The stock had a trading volume of 622,337 shares, compared to its average volume of 624,818. Inspire Medical Systems has a 12 month low of $123.00 and a 12 month high of $257.40. The firm has a market capitalization of $5.61 billion, a PE ratio of 174.98 and a beta of 1.32. The stock has a fifty day moving average price of $189.20 and a 200 day moving average price of $191.36.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. As a group, analysts anticipate that Inspire Medical Systems will post 1.33 EPS for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In related news, CTO John Rondoni sold 583 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction 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. This represents a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On Inspire Medical Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farringdon Capital Ltd. bought a new position in Inspire Medical Systems during the fourth quarter valued at approximately $286,000. Zacks Investment Management raised its position in Inspire Medical Systems by 12.7% during the fourth quarter. Zacks Investment Management now owns 12,657 shares of the company's stock valued at $2,346,000 after purchasing an additional 1,429 shares during the period. Marshall Wace LLP raised its position in Inspire Medical Systems by 1,775.3% during the fourth quarter. Marshall Wace LLP now owns 277,131 shares of the company's stock valued at $51,375,000 after purchasing an additional 262,353 shares during the period. Guggenheim Capital LLC raised its position in Inspire Medical Systems by 28.6% during the fourth quarter. Guggenheim Capital LLC now owns 2,938 shares of the company's stock valued at $545,000 after purchasing an additional 654 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Inspire Medical Systems during the fourth quarter valued at approximately $459,000. 94.91% of the stock is owned by institutional investors.

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.