Stifel Nicolaus Issues Pessimistic Forecast for Inspire Medical Systems (NYSE:INSP) Stock Price

Inspire Medical Systems (NYSE:INSP) had its price objective trimmed by Stifel Nicolaus from $200.00 to $190.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Truist Financial restated a “buy” rating and issued a $240.00 price objective (up from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Robert W. Baird upped their price objective on Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Wells Fargo & Company raised their target price on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada restated an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Finally, Piper Sandler reissued an “overweight” rating and set a $260.00 price objective (up previously from $255.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Three 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.64.

Inspire Medical Systems Price Performance

INSP opened at $187.22 on Tuesday. The business has a fifty day moving average price of $188.72 and a 200 day moving average price of $186.05. Inspire Medical Systems has a 12 month low of $123.00 and a 12 month high of $257.40. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 174.97 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.54. The business had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The business’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.29) earnings per share. On average, research analysts anticipate that Inspire Medical Systems will post 1.35 earnings per share for the current year.

Institutional Investors Weigh In On Inspire Medical Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the business. True Wealth Design LLC acquired a new position in Inspire Medical Systems in the 3rd quarter valued at about $30,000. Farther Finance Advisors LLC increased its holdings in shares of Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after purchasing an additional 139 shares during the period. GAMMA Investing LLC raised its stake in shares of Inspire Medical Systems by 559.3% during the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock worth $38,000 after purchasing an additional 151 shares during the last quarter. Quarry LP lifted its holdings in shares of Inspire Medical Systems by 105.4% during the second quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after purchasing an additional 176 shares during the period. Finally, Signaturefd LLC grew its position in Inspire Medical Systems by 45.9% in the 3rd quarter. Signaturefd LLC now owns 270 shares of the company’s stock valued at $57,000 after buying an additional 85 shares during the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

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.