Inspire Medical Systems (NYSE:INSP) Price Target Lowered to $85.00 at Stifel Nicolaus

Inspire Medical Systems (NYSE:INSP) had its target price cut by Stifel Nicolaus from $95.00 to $85.00 in a research report sent to investors on Thursday, MarketBeat reports. They currently have a buy rating on the stock.

Several other research firms have also recently commented on INSP. JPMorgan Chase & Co. boosted 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. Piper Sandler dropped their target price 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. Mizuho cut their price target on Inspire Medical Systems from $130.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. Royal Bank Of Canada lowered their price objective on Inspire Medical Systems from $90.00 to $68.00 and set a “sector perform” rating for the company in a research report on Thursday, February 12th. Finally, Truist Financial dropped their price objective on Inspire Medical Systems from $96.00 to $70.00 and set a “hold” rating on the stock in a report on Thursday, February 12th. Five equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $104.24.

Inspire Medical Systems Price Performance

INSP stock opened at $62.50 on Thursday. The firm has a market capitalization of $1.79 billion, a P/E ratio of 12.55, a P/E/G ratio of 3.15 and a beta of 0.74. The business’s 50-day moving average is $77.81 and its two-hundred day moving average is $87.37. Inspire Medical Systems has a 1 year low of $53.11 and a 1 year high of $189.49.

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

Institutional Trading of Inspire Medical Systems

Several institutional investors and hedge funds have recently made changes to their positions in INSP. Manning & Napier Advisors LLC purchased a new position in Inspire Medical Systems during the 3rd quarter worth approximately $32,000. CWM LLC increased its holdings in shares of Inspire Medical Systems by 216.1% in the 4th quarter. CWM LLC now owns 354 shares of the company’s stock valued at $33,000 after acquiring an additional 242 shares during the period. Havemeyer Place LP purchased a new stake in Inspire Medical Systems in the 4th quarter valued at $39,000. V Square Quantitative Management LLC acquired a new stake in Inspire Medical Systems during the 4th quarter worth $40,000. Finally, Smartleaf Asset Management LLC boosted its stake in Inspire Medical Systems by 84.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 449 shares of the company’s stock worth $42,000 after purchasing an additional 205 shares during the period. 94.91% of the stock is owned by hedge funds and other institutional investors.

About Inspire Medical Systems

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.