Inspire Medical Systems (NYSE:INSP - Get Free Report) had its price target decreased by research analysts at Wells Fargo & Company from $198.00 to $195.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price points to a potential upside of 5.23% from the stock's previous close.
Other research analysts have also issued research reports about the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Robert W. Baird boosted 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. Bank of America raised Inspire Medical Systems from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $220.00 to $255.00 in a report on Wednesday, November 20th. Piper Sandler cut their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating for the company in a report on Monday. Finally, Stifel Nicolaus cut their target price 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. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Inspire Medical Systems currently has an average rating of "Moderate Buy" and a consensus price target of $228.82.
Check Out Our Latest Stock Report on Inspire Medical Systems
Inspire Medical Systems Price Performance
INSP stock traded down $1.84 during mid-day trading on Tuesday, reaching $185.31. 379,947 shares of the company traded hands, compared to its average volume of 615,460. The company has a market capitalization of $5.55 billion, a P/E ratio of 172.43 and a beta of 1.32. Inspire Medical Systems has a 52-week low of $123.00 and a 52-week high of $257.40. The company has a fifty day moving average price of $189.11 and a 200-day moving average price of $191.33.
Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its earnings results on Monday, February 10th. The company reported $1.15 earnings per share 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, analysts forecast that Inspire Medical Systems will post 1.33 EPS for the current year.
Insider Buying and Selling at Inspire Medical Systems
In other news, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Inspire Medical Systems
A number of institutional investors and hedge funds have recently modified their holdings of INSP. Creative Planning boosted its holdings in shares of Inspire Medical Systems by 12.4% in the 2nd quarter. Creative Planning now owns 2,575 shares of the company's stock worth $345,000 after purchasing an additional 284 shares during the period. GAMMA Investing LLC boosted its holdings in Inspire Medical Systems by 559.3% during the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company's stock valued at $38,000 after acquiring an additional 151 shares during the period. CWM LLC boosted its holdings in Inspire Medical Systems by 550.5% during the 3rd quarter. CWM LLC now owns 8,105 shares of the company's stock valued at $1,711,000 after acquiring an additional 6,859 shares during the period. Exchange Traded Concepts LLC bought a new stake in Inspire Medical Systems during the 3rd quarter valued at $100,000. Finally, nVerses Capital LLC raised its position in Inspire Medical Systems by 18.8% during the 3rd quarter. nVerses Capital LLC now owns 1,900 shares of the company's stock valued at $401,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 94.91% of the company's stock.
About Inspire Medical Systems
(
Get Free Report)
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.
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