Inspire Medical Systems, Inc. (NYSE:INSP) Receives $214.85 Consensus Target Price from Analysts

Inspire Medical Systems, Inc. (NYSE:INSP) has earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $214.85.

INSP has been the subject of several research reports. Stifel Nicolaus decreased their price target on shares of Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating for the company in a report on Monday, June 24th. KeyCorp decreased their target price on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research note on Wednesday, August 7th. Leerink Partners lifted their price objective on Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research report on Tuesday, September 10th. Finally, Robert W. Baird dropped their target price on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the transaction, the director now owns 23,140 shares in the company, valued at $5,090,800. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction on Friday, August 16th. The shares were sold at an average price of $188.55, for a total value of $916,541.55. Following the transaction, the insider now owns 3,056 shares in the company, valued at approximately $576,208.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the transaction, the director now directly owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,692 shares of company stock valued at $1,099,207. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Inspire Medical Systems

Institutional investors have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV increased its position in Inspire Medical Systems by 176,312.5% during the first quarter. Massmutual Trust Co. FSB ADV now owns 14,113 shares of the company’s stock worth $3,031,000 after acquiring an additional 14,105 shares during the period. Bullseye Asset Management LLC increased its holdings in shares of Inspire Medical Systems by 119.6% during the 4th quarter. Bullseye Asset Management LLC now owns 27,199 shares of the company’s stock worth $5,534,000 after purchasing an additional 14,812 shares during the period. Private Ocean LLC acquired a new position in shares of Inspire Medical Systems during the first quarter valued at about $2,738,000. Russell Investments Group Ltd. lifted its stake in shares of Inspire Medical Systems by 98.9% in the first quarter. Russell Investments Group Ltd. now owns 31,933 shares of the company’s stock valued at $6,859,000 after buying an additional 15,877 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in 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 worth $98,754,000 after buying an additional 156,893 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors.

Inspire Medical Systems Stock Performance

NYSE INSP opened at $203.99 on Wednesday. The firm’s 50 day moving average price is $168.99 and its two-hundred day moving average price is $181.09. Inspire Medical Systems has a twelve month low of $123.00 and a twelve month high of $257.40. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of -370.89 and a beta of 1.33.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.46. The business had revenue of $195.89 million for the quarter, compared to the consensus estimate of $189.08 million. Inspire Medical Systems had a return on equity of 1.03% and a net margin of 0.85%. Inspire Medical Systems’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.41) earnings per share. On average, research analysts forecast that Inspire Medical Systems will post 0.75 EPS for the current fiscal year.

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.