Inspire Medical Systems (NYSE:INSP) Price Target Raised to $197.00 at Leerink Partners

Inspire Medical Systems (NYSE:INSP) had its price target lifted by Leerink Partners from $167.00 to $197.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a market perform rating on the stock.

Several other analysts have also commented on INSP. Bank of America dropped their target price on Inspire Medical Systems from $225.00 to $185.00 and set a neutral rating on the stock in a report on Monday, June 3rd. Truist Financial cut their target price on shares of Inspire Medical Systems from $280.00 to $217.00 and set a buy rating for the company in a report on Tuesday, July 16th. Stifel Nicolaus lowered their price target on shares of Inspire Medical Systems from $210.00 to $170.00 and set a hold rating on the stock in a report on Monday, June 24th. KeyCorp cut their price objective on shares of Inspire Medical Systems from $278.00 to $236.00 and set an overweight rating for the company in a report on Wednesday, August 7th. Finally, Morgan Stanley lowered their target price on shares of Inspire Medical Systems from $250.00 to $210.00 and set an overweight rating on the stock in a research note on Monday, July 15th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $214.85.

Inspire Medical Systems Stock Performance

Shares of INSP stock opened at $212.33 on Tuesday. Inspire Medical Systems has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of -386.05 and a beta of 1.33. The stock’s 50-day simple moving average is $164.89 and its 200-day simple moving average is $180.60.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of ($0.14) by $0.46. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The business had revenue of $195.89 million during the quarter, compared to analysts’ expectations of $189.08 million. During the same period in the previous year, the business posted ($0.41) EPS. The business’s quarterly revenue was up 29.6% compared to the same quarter last year. As a group, equities analysts forecast that Inspire Medical Systems will post 0.75 earnings per share for the current year.

Insider Activity at Inspire Medical Systems

In other news, insider Randy Ban sold 4,861 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the sale, the insider now owns 3,056 shares of the company’s stock, valued at $576,208.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in Inspire Medical Systems by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 263,938 shares of the company’s stock worth $53,693,000 after buying an additional 7,716 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Inspire Medical Systems during the 4th quarter worth $54,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Inspire Medical Systems by 88.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,118 shares of the company’s stock worth $1,448,000 after acquiring an additional 3,337 shares during the period. Great Lakes Advisors LLC acquired a new position in shares of Inspire Medical Systems during the 4th quarter valued at about $201,000. Finally, Norges Bank purchased a new stake in shares of Inspire Medical Systems in the fourth quarter valued at about $49,116,000. 94.91% of the stock is currently owned by institutional investors and hedge funds.

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.