Inspire Medical Systems, Inc. (NYSE:INSP) Receives $233.58 Consensus PT from Analysts

Inspire Medical Systems, Inc. (NYSE:INSP) has received a consensus rating of “Moderate Buy” from the twelve research firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $233.58.

Several equities analysts have recently weighed in on the company. 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. Robert W. Baird boosted their price target on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Wells Fargo & Company upped their price target on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $200.00 target price (up from $170.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th.

Insider Activity at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 800 shares of the 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 completion of the sale, the director now owns 23,140 shares in the company, valued at approximately $5,090,800. This trade represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its holdings in shares of Inspire Medical Systems by 7.5% during the 2nd quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock valued at $138,000 after purchasing an additional 72 shares during the last quarter. Amalgamated Bank grew its holdings in Inspire Medical Systems by 4.1% during the 2nd quarter. Amalgamated Bank now owns 2,005 shares of the company’s stock valued at $268,000 after buying an additional 79 shares in the last quarter. Signaturefd LLC increased its stake in Inspire Medical Systems by 45.9% in the 3rd quarter. Signaturefd LLC now owns 270 shares of the company’s stock worth $57,000 after acquiring an additional 85 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Inspire Medical Systems by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,193 shares of the company’s stock worth $2,836,000 after acquiring an additional 92 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Inspire Medical Systems by 30.9% during the 3rd quarter. Quarry LP now owns 449 shares of the company’s stock valued at $95,000 after acquiring an additional 106 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

Inspire Medical Systems Stock Performance

NYSE INSP opened at $192.76 on Monday. Inspire Medical Systems has a one year low of $123.00 and a one year high of $257.40. The stock has a 50-day moving average of $197.96 and a 200 day moving average of $176.45. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 180.15 and a beta of 1.36.

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

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.