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

Royal Bank of Canada reaffirmed their outperform rating on shares of Inspire Medical Systems (NYSE:INSP) in a research report report published on Tuesday,Benzinga reports. They currently have a $260.00 target price on the stock.

INSP has been the subject of a number of other reports. Morgan Stanley lowered their target price on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday. Robert W. Baird lowered their price objective on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a research note on Tuesday. Stifel Nicolaus cut their target price on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and boosted their price target for the company from $220.00 to $255.00 in a research report on Wednesday, November 20th. Finally, Piper Sandler cut their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a report on Monday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $228.82.

Inspire Medical Systems Stock Up 1.2 %

Shares of Inspire Medical Systems stock opened at $183.17 on Tuesday. The firm has a market cap of $5.49 billion, a PE ratio of 171.18 and a beta of 1.32. Inspire Medical Systems has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The business’s fifty day moving average is $189.57 and its two-hundred day moving average is $190.98.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. Equities research analysts anticipate that Inspire Medical Systems will post 1.33 EPS for the current year.

Institutional Trading of Inspire Medical Systems

A number of hedge funds have recently made changes to their positions in INSP. Vanguard Group Inc. boosted its stake in shares of Inspire Medical Systems by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company’s stock valued at $606,259,000 after purchasing an additional 38,219 shares during the period. Wasatch Advisors LP boosted its position in Inspire Medical Systems by 1.6% in the 3rd quarter. Wasatch Advisors LP now owns 1,323,470 shares of the company’s stock valued at $279,318,000 after buying an additional 20,481 shares during the last quarter. State Street Corp grew its stake in shares of Inspire Medical Systems by 78.0% during the third quarter. State Street Corp now owns 1,049,784 shares of the company’s stock valued at $221,557,000 after acquiring an additional 459,990 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Inspire Medical Systems by 5.8% during the third quarter. Janus Henderson Group PLC now owns 502,609 shares of the company’s stock worth $106,075,000 after acquiring an additional 27,374 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Inspire Medical Systems by 0.7% in the third quarter. Geode Capital Management LLC now owns 483,654 shares of the company’s stock worth $102,102,000 after acquiring an additional 3,128 shares in the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

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.