Inspire Medical Systems (NYSE:INSP) Stock Price Expected to Rise, Robert W. Baird Analyst Says

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

INSP has been the topic of a number of other reports. Leerink Partners increased their price target on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 10th. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research note on Wednesday, August 7th. Morgan Stanley reduced their price target on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Truist Financial reissued a “buy” rating and set a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Finally, KeyCorp reduced their target price on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $227.75.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock opened at $196.64 on Tuesday. The firm has a market capitalization of $5.89 billion, a P/E ratio of 183.78 and a beta of 1.36. The stock has a fifty day moving average price of $202.62 and a two-hundred day moving average price of $179.89. Inspire Medical Systems has a 52-week low of $123.00 and a 52-week high of $257.40.

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

Insiders Place Their Bets

In other news, Director Shawn Mccormick sold 800 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the transaction, the director now owns 23,140 shares of the company’s stock, valued at $5,090,800. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Randy Ban sold 4,861 shares of the business’s 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 completion of the transaction, the insider now owns 3,056 shares in the company, valued at approximately $576,208.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shawn Mccormick sold 800 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the completion of the sale, the director now owns 23,140 shares in the company, valued at approximately $5,090,800. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,692 shares of company stock valued at $1,099,207. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Inspire Medical Systems

A number of large investors have recently made changes to their positions in INSP. Bank of New York Mellon Corp grew its stake in 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 valued at $105,433,000 after acquiring an additional 192,238 shares during the period. William Blair Investment Management LLC grew its position in shares of Inspire Medical Systems by 1.8% in the 2nd quarter. William Blair Investment Management LLC now owns 770,413 shares of the company’s stock valued at $103,104,000 after purchasing an additional 13,602 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Inspire Medical Systems by 51.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock worth $98,754,000 after purchasing an additional 156,893 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Inspire Medical Systems by 798.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock worth $56,530,000 after buying an additional 238,034 shares during the period. Finally, AQR Capital Management LLC lifted its stake in Inspire Medical Systems by 152.7% in the second quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock valued at $31,028,000 after buying an additional 140,090 shares in 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.