Inspire Medical Systems, Inc. (NYSE:INSP) Receives $233.58 Average Price Target from Brokerages

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have been given an average recommendation of “Moderate Buy” by the twelve research firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $233.58.

Several equities analysts have recently issued reports on INSP shares. Leerink Partners boosted their target price on Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research note on Tuesday, September 10th. Piper Sandler restated an “overweight” rating and issued a $260.00 price objective (up previously from $255.00) on shares of Inspire Medical Systems in a report 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 research note on Tuesday, November 5th. Robert W. Baird raised their price target on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, November 5th.

Institutional Investors Weigh In On Inspire Medical Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP boosted its position in Inspire Medical Systems by 1.6% in the third quarter. Wasatch Advisors LP now owns 1,323,470 shares of the company’s stock worth $279,318,000 after purchasing an additional 20,481 shares during the last quarter. State Street Corp lifted its stake in shares of Inspire Medical Systems by 78.0% in the 3rd quarter. State Street Corp now owns 1,049,784 shares of the company’s stock worth $221,557,000 after purchasing an additional 459,990 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Inspire Medical Systems by 32.3% in the second quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock worth $105,433,000 after buying an additional 192,238 shares during the last quarter. William Blair Investment Management LLC grew its position in Inspire Medical Systems by 1.8% during the second quarter. William Blair Investment Management LLC now owns 770,413 shares of the company’s stock valued at $103,104,000 after buying an additional 13,602 shares during the period. Finally, Janus Henderson Group PLC grew its position in Inspire Medical Systems by 5.8% during the third quarter. Janus Henderson Group PLC now owns 502,609 shares of the company’s stock valued at $106,075,000 after buying an additional 27,374 shares during the period. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Up 1.3 %

Shares of INSP opened at $187.77 on Friday. The firm has a fifty day simple moving average of $192.36 and a two-hundred day simple moving average of $180.08. Inspire Medical Systems has a twelve month low of $123.00 and a twelve month high of $257.40. The stock has a market capitalization of $5.63 billion, a P/E ratio of 175.49 and a beta of 1.31.

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

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.