Inspire Medical Systems (NYSE:INSP) Receives Outperform Rating from Royal Bank of Canada

Inspire Medical Systems (NYSE:INSP - Get Free Report)'s stock had its "outperform" rating reiterated by Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They currently have a $260.00 target price on the stock. Royal Bank of Canada's price target points to a potential upside of 40.74% from the company's current price.

Several other analysts have also recently issued reports on INSP. Robert W. Baird cut their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating on the stock in a research note on Tuesday. KeyCorp restated an "overweight" rating and set a $234.00 price objective (down previously from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Morgan Stanley cut their price objective on Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating on the stock in a research note on Tuesday. Stifel Nicolaus cut their price objective on Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating on the stock in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company cut their price objective on Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $228.82.

Inspire Medical Systems Price Performance

INSP traded down $2.42 on Tuesday, reaching $184.73. The company's stock had a trading volume of 511,164 shares, compared to its average volume of 616,701. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 172.65 and a beta of 1.32. Inspire Medical Systems has a 1 year low of $123.00 and a 1 year high of $257.40. The business's 50 day moving average is $189.11 and its 200 day moving average is $191.33.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating analysts' consensus estimates 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, research analysts forecast that Inspire Medical Systems will post 1.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Inspire Medical Systems

In other news, CTO John Rondoni sold 583 shares of the firm's stock in a transaction 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 sale, the chief technology officer now directly owns 10,424 shares of the company's stock, valued at $1,777,187.76. This trade represents a 5.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Inspire Medical Systems

Large investors have recently modified their holdings of the stock. State Street Corp lifted its holdings in shares of Inspire Medical Systems by 78.0% in the third quarter. State Street Corp now owns 1,049,784 shares of the company's stock valued at $221,557,000 after purchasing an additional 459,990 shares in the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of Inspire Medical Systems in the fourth quarter valued at $80,419,000. Point72 Asset Management L.P. lifted its holdings in shares of Inspire Medical Systems by 954.4% in the third quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company's stock valued at $67,402,000 after purchasing an additional 289,075 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Inspire Medical Systems by 1,775.3% in 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 in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Inspire Medical Systems in the fourth quarter valued at $47,604,000. 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.