Mizuho Forecasts Strong Price Appreciation for Inspire Medical Systems (NYSE:INSP) Stock

Inspire Medical Systems (NYSE:INSP) had its price objective increased by analysts at Mizuho from $110.00 to $130.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price target indicates a potential upside of 12.53% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. KeyCorp reiterated a “sector weight” rating on shares of Inspire Medical Systems in a research note on Tuesday, November 4th. Zacks Research raised Inspire Medical Systems from a “strong sell” rating to a “hold” rating in a research report on Monday, October 27th. UBS Group set a $89.00 target price on Inspire Medical Systems and gave the stock a “neutral” rating in a research note on Monday, September 22nd. Truist Financial raised Inspire Medical Systems from a “hold” rating to a “buy” rating and boosted their target price for the stock from $128.00 to $165.00 in a report on Wednesday, November 26th. Finally, Oppenheimer raised Inspire Medical Systems from a “market perform” rating to an “outperform” rating and set a $175.00 price target for the company in a report on Monday, December 8th. Eleven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $138.88.

Inspire Medical Systems Trading Down 3.1%

NYSE:INSP opened at $115.53 on Wednesday. The stock has a market capitalization of $3.36 billion, a PE ratio of 78.59, a P/E/G ratio of 13.74 and a beta of 0.70. Inspire Medical Systems has a 1-year low of $70.77 and a 1-year high of $216.01. The firm has a fifty day simple moving average of $98.07 and a 200 day simple moving average of $103.94.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.53. The firm had revenue of $224.50 million for the quarter, compared to analyst estimates of $220.39 million. Inspire Medical Systems had a net margin of 5.05% and a return on equity of 9.41%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 earnings per share. On average, equities analysts predict that Inspire Medical Systems will post 2.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 stock was sold at an average price of $127.48, for a total transaction of $254,960.00. Following the completion of the sale, the director directly owned 26,046 shares of the company’s stock, valued at approximately $3,320,344.08. This trade represents a 7.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its holdings in shares of Inspire Medical Systems by 14.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 603 shares of the company’s stock worth $78,000 after acquiring an additional 77 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Inspire Medical Systems by 27.2% in the 1st quarter. Smartleaf Asset Management LLC now owns 454 shares of the company’s stock valued at $71,000 after buying an additional 97 shares during the last quarter. New York State Teachers Retirement System increased its stake in Inspire Medical Systems by 0.5% in the 2nd quarter. New York State Teachers Retirement System now owns 21,490 shares of the company’s stock valued at $2,789,000 after buying an additional 100 shares during the last quarter. Xponance Inc. lifted its position in shares of Inspire Medical Systems by 2.9% during the 3rd quarter. Xponance Inc. now owns 4,177 shares of the company’s stock worth $310,000 after buying an additional 116 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Inspire Medical Systems by 1.3% in the 2nd quarter. Amalgamated Bank now owns 9,567 shares of the company’s stock worth $1,242,000 after buying an additional 125 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

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.