Inspire Medical Systems’ (INSP) Buy Rating Reiterated at Truist Financial

Inspire Medical Systems (NYSE:INSP)‘s stock had its “buy” rating reissued by equities researchers at Truist Financial in a note issued to investors on Monday, Benzinga reports. They currently have a $240.00 price objective on the stock, up from their previous price objective of $217.00. Truist Financial’s price target points to a potential upside of 13.15% from the company’s previous close.

INSP has been the topic of several other reports. KeyCorp cut their target price on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Robert W. Baird cut their price target on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Leerink Partners upped their price objective on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. Bank of America decreased their price target on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating on the stock in a research report on Monday, June 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $216.62.

Inspire Medical Systems Trading Up 4.8 %

Shares of NYSE:INSP traded up $9.62 during midday trading on Monday, hitting $212.10. The company had a trading volume of 72,730 shares, compared to its average volume of 617,213. Inspire Medical Systems has a 12 month low of $123.00 and a 12 month high of $257.40. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of -383.91 and a beta of 1.33. The firm has a fifty day simple moving average of $183.08 and a 200 day simple moving average of $182.41.

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

Insider Buying and Selling 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 sale, 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 SEC, which is available through this link. In other news, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction dated 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 directly owns 3,056 shares of the company’s stock, valued at $576,208.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the transaction, the director now owns 23,140 shares of the company’s stock, valued at $5,090,800. The disclosure for this sale can be found here. Insiders sold a total of 5,692 shares of company stock valued at $1,099,207 in the last ninety days. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Inspire Medical Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INSP. SouthState Corp acquired a new stake in Inspire Medical Systems during the 2nd quarter valued at $27,000. Quarry LP raised its position in shares of Inspire Medical Systems by 105.4% during the second quarter. Quarry LP now owns 343 shares of the company’s stock valued at $46,000 after buying an additional 176 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Inspire Medical Systems in the second quarter worth about $53,000. Van ECK Associates Corp raised its position in Inspire Medical Systems by 7.5% in the second quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock worth $138,000 after purchasing an additional 72 shares in the last quarter. Finally, RiverPark Advisors LLC raised its position in Inspire Medical Systems by 360.1% in the first quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock worth $166,000 after purchasing an additional 605 shares in the last quarter. 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.