Inspire Medical Systems (NYSE:INSP) Rating Reiterated by Truist Financial

Inspire Medical Systems (NYSE:INSP)‘s stock had its “buy” rating reaffirmed by analysts at Truist Financial in a research report issued on Monday, Benzinga reports. They presently have a $240.00 price objective on the stock, up from their prior price objective of $217.00. Truist Financial’s price target points to a potential upside of 14.64% from the company’s current price.

Other equities analysts also recently issued reports about the company. KeyCorp decreased their price target on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley decreased their target price on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Leerink Partners boosted their price target on Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. Bank of America reduced their price objective on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. Finally, Robert W. Baird lowered their target price on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $216.62.

Inspire Medical Systems Stock Down 0.8 %

NYSE INSP opened at $209.36 on Monday. The stock has a market cap of $6.22 billion, a PE ratio of -380.65 and a beta of 1.33. The business has a 50 day moving average price of $185.85 and a two-hundred day moving average price of $182.66. Inspire Medical Systems has a fifty-two week low of $123.00 and a fifty-two week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.46. The firm had revenue of $195.89 million for the quarter, compared to the consensus estimate of $189.08 million. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The firm’s quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.41) EPS. Sell-side analysts anticipate that Inspire Medical Systems will post 0.75 EPS for the current fiscal year.

Insider Buying and Selling at Inspire Medical Systems

In related news, insider Randy Ban sold 4,861 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $188.55, for a total value 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the sale, the director now directly owns 23,140 shares in the company, valued at $5,090,800. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Randy Ban sold 4,861 shares of the company’s stock in a transaction dated 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 directly owns 3,056 shares of the company’s stock, valued at $576,208.80. The disclosure for this sale can be found here. Insiders have sold 5,692 shares of company stock valued at $1,099,207 in the last quarter. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Inspire Medical Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG grew its position in Inspire Medical Systems by 7.7% in the fourth quarter. UBS Group AG now owns 33,173 shares of the company’s stock worth $6,748,000 after buying an additional 2,366 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Inspire Medical Systems by 15.9% in the 4th quarter. Hsbc Holdings PLC now owns 21,185 shares of the company’s stock worth $4,313,000 after acquiring an additional 2,905 shares during the last quarter. TD Asset Management Inc acquired a new stake in shares of Inspire Medical Systems during the fourth quarter worth $1,953,000. Allianz Asset Management GmbH raised its position in shares of Inspire Medical Systems by 9.6% during the fourth quarter. Allianz Asset Management GmbH now owns 19,355 shares of the company’s stock worth $3,937,000 after purchasing an additional 1,692 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Inspire Medical Systems by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 12,750 shares of the company’s stock valued at $2,594,000 after purchasing an additional 120 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

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.