Inspire Medical Systems (NYSE:INSP) Price Target Cut to $215.00 by Analysts at Royal Bank of Canada

Inspire Medical Systems (NYSE:INSP - Get Free Report) had its price target reduced by equities research analysts at Royal Bank of Canada from $260.00 to $215.00 in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank of Canada's price target indicates a potential upside of 42.93% from the company's previous close.

A number of other research firms also recently weighed in on INSP. KeyCorp reissued an "overweight" rating and issued a $234.00 target price (down previously from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Wells Fargo & Company dropped their price objective on shares of Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 11th. Truist Financial dropped their price target on shares of Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Stifel Nicolaus reduced their price objective on Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating for the company in a research note on Tuesday, January 21st. Finally, Morgan Stanley decreased their target price on Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating on the stock in a report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $222.20.

Inspire Medical Systems Price Performance

INSP stock traded up $3.51 during trading on Tuesday, hitting $150.42. 605,382 shares of the stock traded hands, compared to its average volume of 585,070. The firm's 50 day moving average is $166.16 and its two-hundred day moving average is $183.40. Inspire Medical Systems has a 1 year low of $123.00 and a 1 year high of $257.40. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 86.95, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released 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 8.19% and a net margin of 6.67%. As a group, analysts anticipate that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In related news, CTO John Rondoni sold 583 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total value of $99,395.67. Following the sale, the chief technology officer now owns 10,424 shares in the company, valued at approximately $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the completion of the transaction, the insider now directly owns 7,259 shares of the company's stock, valued at $1,332,026.50. The trade was a 77.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in INSP. MML Investors Services LLC boosted its holdings in shares of Inspire Medical Systems by 8.6% in the 3rd quarter. MML Investors Services LLC now owns 7,874 shares of the company's stock worth $1,662,000 after purchasing an additional 625 shares during the period. M&T Bank Corp boosted its stake in Inspire Medical Systems by 53.1% during the third quarter. M&T Bank Corp now owns 3,228 shares of the company's stock worth $681,000 after buying an additional 1,120 shares during the period. Geode Capital Management LLC increased its position in Inspire Medical Systems by 0.7% during the third quarter. Geode Capital Management LLC now owns 483,654 shares of the company's stock valued at $102,102,000 after acquiring an additional 3,128 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of Inspire Medical Systems in the third quarter valued at $320,000. Finally, Synovus Financial Corp lifted its holdings in shares of Inspire Medical Systems by 7.5% in the 3rd quarter. Synovus Financial Corp now owns 3,502 shares of the company's stock worth $739,000 after acquiring an additional 244 shares during the last quarter. Hedge funds and other 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.