Stifel Nicolaus Trims Inspire Medical Systems (NYSE:INSP) Target Price to $170.00

Inspire Medical Systems (NYSE:INSP) had its target price reduced by Stifel Nicolaus from $210.00 to $170.00 in a research note issued to investors on Monday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

INSP has been the subject of several other research reports. Royal Bank of Canada initiated coverage on shares of Inspire Medical Systems in a research note on Friday, April 19th. They set an outperform rating and a $285.00 price objective for the company. Morgan Stanley began coverage on shares of Inspire Medical Systems in a research note on Tuesday, March 19th. They issued an overweight rating and a $250.00 price target for the company. Bank of America cut their price target on shares of Inspire Medical Systems from $225.00 to $185.00 and set a neutral rating for the company in a research note on Monday, June 3rd. Piper Sandler boosted their price target on shares of Inspire Medical Systems from $250.00 to $255.00 and gave the stock an overweight rating in a research note on Wednesday, May 8th. Finally, Mizuho reissued a buy rating and issued a $250.00 price target on shares of Inspire Medical Systems in a research note on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Inspire Medical Systems presently has an average rating of Moderate Buy and an average target price of $251.20.

Inspire Medical Systems Trading Down 16.4 %

Shares of NYSE:INSP opened at $135.74 on Monday. The company has a 50 day moving average of $184.83 and a 200 day moving average of $193.55. The stock has a market cap of $4.03 billion, a P/E ratio of -246.80 and a beta of 1.33. Inspire Medical Systems has a 12 month low of $123.27 and a 12 month high of $330.00.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.29. The company had revenue of $164.01 million during the quarter, compared to analysts’ expectations of $161.41 million. Inspire Medical Systems had a negative net margin of 2.38% and a negative return on equity of 2.82%. Inspire Medical Systems’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.53) earnings per share. On average, equities analysts forecast that Inspire Medical Systems will post 0.16 earnings per share for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In other news, CFO Richard Buchholz sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $230.03, for a total value of $3,450,450.00. Following the completion of the sale, the chief financial officer now directly owns 28,271 shares in the company, valued at approximately $6,503,178.13. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Richard Buchholz sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $230.03, for a total value of $3,450,450.00. Following the completion of the sale, the chief financial officer now directly owns 28,271 shares in the company, valued at approximately $6,503,178.13. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy P. Herbert sold 40,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $205.09, for a total transaction of $8,203,600.00. Following the sale, the chief executive officer now owns 63,658 shares of the company’s stock, valued at $13,055,619.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,032 shares of company stock worth $11,660,898. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Inspire Medical Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INSP. Envestnet Asset Management Inc. raised its holdings in Inspire Medical Systems by 40.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 30,062 shares of the company’s stock valued at $5,965,000 after buying an additional 8,711 shares during the last quarter. Stifel Financial Corp raised its holdings in Inspire Medical Systems by 186.8% during the 3rd quarter. Stifel Financial Corp now owns 11,930 shares of the company’s stock valued at $2,367,000 after buying an additional 7,770 shares during the last quarter. Northern Trust Corp raised its holdings in Inspire Medical Systems by 2.4% during the 3rd quarter. Northern Trust Corp now owns 149,275 shares of the company’s stock valued at $29,622,000 after buying an additional 3,501 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Inspire Medical Systems during the 3rd quarter valued at $2,648,000. Finally, Westfield Capital Management Co. LP increased its position in Inspire Medical Systems by 29.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 732,400 shares of the company’s stock valued at $145,337,000 after purchasing an additional 168,733 shares during the period. 94.91% of the stock is currently owned by institutional investors.

Inspire Medical Systems Company Profile

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.