Analysts Set Inspire Medical Systems, Inc. (NYSE:INSP) Price Target at $226.70

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have earned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $226.70.

A number of brokerages have recently weighed in on INSP. Piper Sandler lowered their target price on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Truist Financial dropped their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, February 11th. KeyCorp reaffirmed an “overweight” rating and issued a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Finally, Robert W. Baird decreased their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th.

Inspire Medical Systems Trading Down 5.3 %

INSP opened at $141.49 on Friday. The company has a fifty day moving average price of $175.94 and a two-hundred day moving average price of $188.21. Inspire Medical Systems has a 1-year low of $123.00 and a 1-year high of $257.40. The company has a market cap of $4.21 billion, a P/E ratio of 81.78, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. On average, research analysts forecast that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Insider Activity

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total value of $99,395.67. Following the transaction, the chief technology officer now directly owns 10,424 shares in the company, valued at $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the completion of the sale, the insider now directly owns 7,259 shares in the company, valued at $1,332,026.50. This trade represents a 77.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,225 shares of company stock valued at $4,806,530 over the last three months. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Inspire Medical Systems

A number of large investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its stake in shares of Inspire Medical Systems by 178.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company’s stock worth $66,000 after acquiring an additional 229 shares during the period. Merit Financial Group LLC bought a new position in Inspire Medical Systems during the fourth quarter worth about $313,000. Public Employees Retirement System of Ohio increased its stake in shares of Inspire Medical Systems by 9.4% in the third quarter. Public Employees Retirement System of Ohio now owns 36,361 shares of the company’s stock worth $7,674,000 after purchasing an additional 3,125 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Inspire Medical Systems in the fourth quarter valued at approximately $8,821,000. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Inspire Medical Systems by 248.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,806 shares of the company’s stock valued at $891,000 after buying an additional 3,427 shares in the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

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.