Inspire Medical Systems, Inc. (NYSE:INSP) Receives $233.58 Consensus Target Price from Analysts

Inspire Medical Systems, Inc. (NYSE:INSP) has earned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $233.58.

A number of analysts have commented on the stock. Truist Financial reaffirmed a “buy” rating and set a $240.00 price objective (up from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Robert W. Baird upped their price target on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Leerink Partners boosted their target price on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research note on Tuesday, September 10th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $260.00 target price (up previously from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th.

Institutional Trading of Inspire Medical Systems

A number of institutional investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP raised its holdings in shares of Inspire Medical Systems by 1.6% during the 3rd quarter. Wasatch Advisors LP now owns 1,323,470 shares of the company’s stock valued at $279,318,000 after purchasing an additional 20,481 shares in the last quarter. State Street Corp raised its holdings in Inspire Medical Systems by 78.0% during the third quarter. State Street Corp now owns 1,049,784 shares of the company’s stock valued at $221,557,000 after buying an additional 459,990 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Inspire Medical Systems by 32.3% in the second quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock worth $105,433,000 after buying an additional 192,238 shares during the last quarter. William Blair Investment Management LLC boosted its stake in shares of Inspire Medical Systems by 1.8% during the 2nd quarter. William Blair Investment Management LLC now owns 770,413 shares of the company’s stock worth $103,104,000 after acquiring an additional 13,602 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Inspire Medical Systems by 5.8% during the 3rd quarter. Janus Henderson Group PLC now owns 502,609 shares of the company’s stock valued at $106,075,000 after acquiring an additional 27,374 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Price Performance

NYSE INSP opened at $186.29 on Friday. Inspire Medical Systems has a 12 month low of $123.00 and a 12 month high of $257.40. The company has a market capitalization of $5.58 billion, a P/E ratio of 174.10 and a beta of 1.31. The company’s 50 day simple moving average is $191.90 and its 200 day simple moving average is $180.30.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.54. The company had revenue of $203.20 million for the quarter, compared to analysts’ expectations of $197.59 million. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The firm’s revenue was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.29) earnings per share. On average, analysts anticipate that Inspire Medical Systems will post 1.33 earnings per share for the current year.

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.