Brokerages Set Inspire Medical Systems, Inc. (NYSE:INSP) Price Target at $233.58

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have been given a consensus rating of “Moderate Buy” by the twelve research firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $233.58.

Several analysts have recently commented on INSP shares. Wells Fargo & Company raised their price objective on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Piper Sandler reiterated an “overweight” rating and issued a $260.00 price target (up previously from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Stifel Nicolaus reissued a “hold” rating and issued a $200.00 target price (up from $170.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $220.00 to $255.00 in a research report on Wednesday, November 20th. Finally, Robert W. Baird lifted their price target on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th.

Inspire Medical Systems Stock Up 2.5 %

Shares of Inspire Medical Systems stock opened at $193.85 on Monday. Inspire Medical Systems has a twelve month low of $123.00 and a twelve month high of $257.40. The company’s 50 day moving average is $198.72 and its 200 day moving average is $175.85. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 181.17 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.54. The company had revenue of $203.20 million for 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%. Inspire Medical Systems’s revenue was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.29) earnings per share. Sell-side analysts expect that Inspire Medical Systems will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems 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 transaction, the director now directly owns 23,140 shares of the company’s stock, valued at $5,090,800. The trade was a 3.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of Inspire Medical Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Synovus Financial Corp boosted its stake in shares of Inspire Medical Systems by 7.5% during the 3rd quarter. Synovus Financial Corp now owns 3,502 shares of the company’s stock worth $739,000 after acquiring an additional 244 shares in the last quarter. Tidal Investments LLC acquired a new position in Inspire Medical Systems in the 3rd quarter worth about $320,000. Teachers Retirement System of The State of Kentucky boosted its position in Inspire Medical Systems by 20.1% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 49,178 shares of the company’s stock worth $10,379,000 after purchasing an additional 8,240 shares in the last quarter. Geode Capital Management LLC grew its holdings in Inspire Medical Systems by 0.7% in the third quarter. Geode Capital Management LLC now owns 483,654 shares of the company’s stock valued at $102,102,000 after purchasing an additional 3,128 shares during the period. Finally, M&T Bank Corp grew its holdings in Inspire Medical Systems by 53.1% in the third quarter. M&T Bank Corp now owns 3,228 shares of the company’s stock valued at $681,000 after purchasing an additional 1,120 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.

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.