Inspire Medical Systems, Inc. (NYSE:INSP) Receives $216.62 Average Target Price from Brokerages

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have been given an average rating of “Moderate Buy” by the fourteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $216.62.

INSP has been the topic of several research reports. Truist Financial reiterated a “buy” rating and set a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Robert W. Baird cut their price target on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Stifel Nicolaus lowered their price objective on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating for the company in a research note on Monday, June 24th. KeyCorp cut their target price on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Leerink Partners upped their price target on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 10th.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the transaction, the insider now directly owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Shawn Mccormick sold 800 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the completion of the sale, the director now directly owns 23,140 shares of the company’s stock, valued at $5,090,800. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Randy Ban sold 4,861 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the sale, the insider now owns 3,056 shares of the company’s stock, valued at $576,208.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,692 shares of company stock worth $1,099,207 over the last quarter. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Inspire Medical Systems

Several large investors have recently modified their holdings of INSP. Exchange Traded Concepts LLC acquired a new position in shares of Inspire Medical Systems in the 3rd quarter valued at $100,000. CWM LLC boosted its holdings in shares of Inspire Medical Systems by 550.5% in the third quarter. CWM LLC now owns 8,105 shares of the company’s stock worth $1,711,000 after buying an additional 6,859 shares during the period. GAMMA Investing LLC increased its position in shares of Inspire Medical Systems by 559.3% in the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock worth $38,000 after acquiring an additional 151 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Inspire Medical Systems by 12.0% during the third quarter. Handelsbanken Fonder AB now owns 8,400 shares of the company’s stock valued at $1,773,000 after acquiring an additional 900 shares during the period. Finally, Clearbridge Investments LLC purchased a new stake in shares of Inspire Medical Systems in the 2nd quarter valued at approximately $1,580,000. 94.91% of the stock is owned by institutional investors.

Inspire Medical Systems Trading Down 0.7 %

Shares of INSP opened at $205.44 on Friday. Inspire Medical Systems has a twelve month low of $123.00 and a twelve month high of $257.40. The firm has a market capitalization of $6.10 billion, a P/E ratio of -373.53 and a beta of 1.34. The stock’s fifty day simple moving average is $194.61 and its 200 day simple moving average is $183.19.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.46. The firm had revenue of $195.89 million during 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%. The firm’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.41) EPS. Sell-side analysts predict that Inspire Medical Systems will post 0.75 earnings per share for the current 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.