Inspire Medical Systems (NYSE:INSP) Price Target Raised to $252.00

Inspire Medical Systems (NYSE:INSP) had its target price raised by Robert W. Baird from $240.00 to $252.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other research firms have also recently issued reports on INSP. Truist Financial reissued a “buy” rating and issued a $240.00 target price (up from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research note on Wednesday, August 7th. Leerink Partners lifted their price target 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. KeyCorp reduced their price target on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Morgan Stanley dropped their price objective on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Inspire Medical Systems presently has an average rating of “Moderate Buy” and a consensus price target of $227.75.

Inspire Medical Systems Trading Up 1.6 %

Shares of INSP stock traded up $3.23 on Tuesday, reaching $203.70. The company had a trading volume of 23,685 shares, compared to its average volume of 598,682. The company has a 50-day moving average of $201.94 and a 200-day moving average of $179.94. Inspire Medical Systems has a 12 month low of $123.00 and a 12 month high of $257.40. The stock has a market cap of $6.07 billion, a PE ratio of 187.36 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.06 by $0.54. The firm had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.51%. The business’s quarterly revenue was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.29) earnings per share. Sell-side analysts anticipate that Inspire Medical Systems will post 0.75 earnings per share for the current year.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the completion of the transaction, the insider now directly owns 3,056 shares in the company, valued at $576,208.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the stock in a transaction on 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 in the company, valued at $576,208.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the transaction, the director now owns 23,140 shares in the company, valued at $5,090,800. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,692 shares of company stock worth $1,099,207 in the last three months. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its stake in Inspire Medical Systems by 1,158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after acquiring an additional 139 shares during the period. GAMMA Investing LLC increased its holdings in shares of Inspire Medical Systems by 559.3% in the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after purchasing an additional 151 shares during the last quarter. SouthState Corp acquired a new position in shares of Inspire Medical Systems in the second quarter valued at $27,000. Signaturefd LLC raised its position in shares of Inspire Medical Systems by 45.9% in the third quarter. Signaturefd LLC now owns 270 shares of the company’s stock valued at $57,000 after purchasing an additional 85 shares during the period. Finally, Quarry LP lifted its stake in shares of Inspire Medical Systems by 105.4% during the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after buying an additional 176 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.