Robert W. Baird Cuts Inspire Medical Systems (NYSE:INSP) Price Target to $248.00

Inspire Medical Systems (NYSE:INSP) had its target price decreased by Robert W. Baird from $252.00 to $248.00 in a research report report published on Tuesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the company. Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $220.00 to $255.00 in a research report on Wednesday, November 20th. Morgan Stanley decreased their price target on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday. KeyCorp reaffirmed an “overweight” rating and issued a $234.00 price target (down from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Wells Fargo & Company decreased their price target on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Piper Sandler decreased their price target on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research note on Monday. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $228.82.

Inspire Medical Systems Stock Up 0.1 %

NYSE:INSP opened at $187.23 on Tuesday. Inspire Medical Systems has a 52 week low of $123.00 and a 52 week high of $257.40. The stock has a market capitalization of $5.61 billion, a PE ratio of 174.98 and a beta of 1.32. The stock’s 50-day moving average price is $189.20 and its 200-day moving average price is $191.36.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. Sell-side analysts expect that Inspire Medical Systems will post 1.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO John Rondoni sold 583 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the sale, the chief technology officer now owns 10,424 shares in the company, valued at $1,777,187.76. This trade represents a 5.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Inspire Medical Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in INSP. First Horizon Advisors Inc. increased its holdings in shares of Inspire Medical Systems by 885.7% during the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock worth $26,000 after buying an additional 124 shares during the last quarter. True Wealth Design LLC acquired a new stake in shares of Inspire Medical Systems during the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC increased its holdings in shares of Inspire Medical Systems by 1,158.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock worth $32,000 after buying an additional 139 shares during the last quarter. Huntington National Bank increased its holdings in shares of Inspire Medical Systems by 228.3% during the 4th quarter. Huntington National Bank now owns 174 shares of the company’s stock worth $32,000 after buying an additional 121 shares during the last quarter. Finally, Harbour Investments Inc. increased its holdings in shares of Inspire Medical Systems by 101.0% during the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock worth $37,000 after buying an additional 99 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

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.