Brokerages Set Inspire Medical Systems, Inc. (NYSE:INSP) Target Price at $231.45

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have earned a consensus rating of “Moderate Buy” from the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $228.82.

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

Inspire Medical Systems Trading Down 1.3 %

INSP stock opened at $184.73 on Friday. Inspire Medical Systems has a 1-year low of $123.00 and a 1-year high of $257.40. The firm has a market cap of $5.54 billion, a PE ratio of 172.65 and a beta of 1.32. The business’s 50-day moving average price is $189.11 and its two-hundred day moving average price is $191.33.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. On average, analysts forecast that Inspire Medical Systems will post 1.33 earnings per share for the current year.

Insider Buying and Selling at Inspire Medical Systems

In related news, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the transaction, the chief technology officer now owns 10,424 shares in the company, valued at approximately $1,777,187.76. This trade represents a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Inspire Medical Systems

Hedge funds have recently made changes to their positions in the business. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Inspire Medical Systems in the 3rd quarter valued at $1,929,000. Thrivent Financial for Lutherans raised its position in shares of Inspire Medical Systems by 39.7% in the third quarter. Thrivent Financial for Lutherans now owns 110,580 shares of the company’s stock valued at $23,337,000 after purchasing an additional 31,444 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of 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 last quarter. Merit Financial Group LLC bought a new stake in shares of Inspire Medical Systems during the 4th quarter worth about $313,000. Finally, Principal Financial Group Inc. grew its stake in Inspire Medical Systems by 3,812.6% in the 3rd quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock valued at $29,777,000 after buying an additional 137,483 shares during the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

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.