Analysts Set Inspire Medical Systems, Inc. (NYSE:INSP) Price Target at $226.70

Inspire Medical Systems, Inc. (NYSE:INSP) has been given a consensus recommendation of “Moderate Buy” by the ten analysts that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and seven have assigned 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 $226.70.

Several brokerages have recently commented on INSP. KeyCorp restated an “overweight” rating and issued a $234.00 target price (down from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Royal Bank of Canada restated an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, February 11th. Morgan Stanley decreased their price target on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Truist Financial dropped their price objective on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Finally, Piper Sandler decreased their target price on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th.

Insider Activity

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the sale, the chief technology officer now owns 10,424 shares in the company, valued at approximately $1,777,187.76. The trade was a 5.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Randy Ban sold 25,584 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the transaction, the insider now owns 7,259 shares of the company’s stock, valued at $1,332,026.50. This trade represents a 77.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,225 shares of company stock valued at $4,806,530 over the last quarter. 4.10% of the stock is owned by company insiders.

Institutional Trading of Inspire Medical Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INSP. First Horizon Advisors Inc. increased its position in shares of Inspire Medical Systems by 885.7% during the fourth 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 period. True Wealth Design LLC acquired a new stake in Inspire Medical Systems during the 3rd quarter worth about $30,000. Huntington National Bank raised its position in shares of Inspire Medical Systems by 228.3% in the 4th quarter. Huntington National Bank now owns 174 shares of the company’s stock worth $32,000 after acquiring an additional 121 shares in the last quarter. Harbour Investments Inc. lifted its stake in shares of Inspire Medical Systems by 101.0% in the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock valued at $37,000 after purchasing an additional 99 shares during the period. Finally, AlphaQuest LLC boosted its position in shares of Inspire Medical Systems by 7,275.0% during the 4th quarter. AlphaQuest LLC now owns 295 shares of the company’s stock valued at $55,000 after purchasing an additional 291 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Price Performance

Shares of NYSE:INSP opened at $141.49 on Friday. The business’s 50 day simple moving average is $175.94 and its 200 day simple moving average is $188.21. Inspire Medical Systems has a 1 year low of $123.00 and a 1 year high of $257.40. The company has a market capitalization of $4.21 billion, a P/E ratio of 81.78, a P/E/G ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. On average, sell-side analysts anticipate that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

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.