Inspire Medical Systems, Inc. (NYSE:INSP) Receives $108.94 Consensus Target Price from Brokerages

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have been assigned a consensus recommendation of “Hold” from the nineteen research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $104.8235.

A number of equities analysts recently commented on the stock. Piper Sandler reduced their price target on Inspire Medical Systems from $165.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th. KeyCorp reiterated a “sector weight” rating on shares of Inspire Medical Systems in a research note on Tuesday, November 4th. Oppenheimer lowered shares of Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 22nd. JPMorgan Chase & Co. upped their price target on shares of Inspire Medical Systems from $82.00 to $118.00 and gave the stock a “neutral” rating in a report on Tuesday, December 16th. Finally, UBS Group set a $67.00 price objective on shares of Inspire Medical Systems in a report on Friday, February 13th.

Inspire Medical Systems Trading Down 0.4%

Shares of INSP stock opened at $59.52 on Wednesday. The stock’s 50-day moving average price is $85.07 and its 200-day moving average price is $88.71. Inspire Medical Systems has a 12-month low of $53.11 and a 12-month high of $197.75. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 2.94 and a beta of 0.74.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Wednesday, February 11th. The company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.96. The firm had revenue of $269.08 million for the quarter, compared to the consensus estimate of $264.02 million. Inspire Medical Systems had a net margin of 15.95% and a return on equity of 10.96%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.15 EPS. As a group, research analysts predict that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Insider Activity

In related news, Director Shawn Mccormick sold 2,000 shares of Inspire Medical Systems stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $127.48, for a total transaction of $254,960.00. Following the transaction, the director directly owned 26,046 shares of the company’s stock, valued at $3,320,344.08. This trade represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Inspire Medical Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System lifted its position in Inspire Medical Systems by 0.5% during the second quarter. New York State Teachers Retirement System now owns 21,490 shares of the company’s stock valued at $2,789,000 after acquiring an additional 100 shares during the last quarter. Xponance Inc. increased its position in shares of Inspire Medical Systems by 2.9% during the third quarter. Xponance Inc. now owns 4,177 shares of the company’s stock worth $310,000 after purchasing an additional 116 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Inspire Medical Systems by 1.3% during the 2nd quarter. Amalgamated Bank now owns 9,567 shares of the company’s stock valued at $1,242,000 after purchasing an additional 125 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Inspire Medical Systems by 38.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock worth $60,000 after purchasing an additional 130 shares in the last quarter. Finally, Choreo LLC grew its stake in Inspire Medical Systems by 9.8% during the 2nd quarter. Choreo LLC now owns 1,877 shares of the company’s stock worth $244,000 after buying an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.