Inspire Medical Systems’ (INSP) “Buy” Rating Reaffirmed at Truist Financial

Truist Financial reiterated their buy rating on shares of Inspire Medical Systems (NYSE:INSP) in a research note released on Monday, Benzinga reports. They currently have a $240.00 price target on the stock, up from their prior price target of $217.00.

INSP has been the subject of several other reports. Stifel Nicolaus cut their price target on shares of Inspire Medical Systems from $210.00 to $170.00 and set a hold rating for the company in a report on Monday, June 24th. Leerink Partners lifted their price objective on 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. Robert W. Baird decreased their target price on Inspire Medical Systems from $220.00 to $200.00 and set an outperform rating on the stock in a research note on Wednesday, August 7th. KeyCorp lowered their price target on Inspire Medical Systems from $278.00 to $236.00 and set an overweight rating on the stock in a report on Wednesday, August 7th. Finally, Royal Bank of Canada reissued an outperform rating and set a $260.00 price objective on shares of Inspire Medical Systems in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $216.62.

Inspire Medical Systems Stock Up 1.4 %

Shares of NYSE INSP opened at $212.27 on Monday. The company has a market cap of $6.31 billion, a P/E ratio of -385.95 and a beta of 1.33. Inspire Medical Systems has a 52 week low of $123.00 and a 52 week high of $257.40. The business has a 50-day simple moving average of $187.30 and a two-hundred day simple moving average of $182.87.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.46. The firm had revenue of $195.89 million for the quarter, compared to the consensus estimate of $189.08 million. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The company’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.41) earnings per share. Equities research analysts anticipate that Inspire Medical Systems will post 0.75 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Inspire Medical Systems

Several hedge funds and other institutional investors have recently bought and sold shares of INSP. Wellington Management Group LLP raised its stake in shares of Inspire Medical Systems by 46.4% during the fourth quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock valued at $290,959,000 after acquiring an additional 453,294 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in Inspire Medical Systems by 105.2% during the 4th quarter. Frontier Capital Management Co. LLC now owns 742,046 shares of the company’s stock valued at $150,954,000 after purchasing an additional 380,362 shares during the last quarter. Baillie Gifford & Co. raised its position in Inspire Medical Systems by 19.3% during the 1st quarter. Baillie Gifford & Co. now owns 1,467,613 shares of the company’s stock valued at $315,229,000 after purchasing an additional 237,734 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Inspire Medical Systems by 32.3% in the 2nd 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 period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Inspire Medical Systems by 51.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock worth $98,754,000 after buying an additional 156,893 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.