Truist Financial Has Lowered Expectations for Inspire Medical Systems (NYSE:INSP) Stock Price

Inspire Medical Systems (NYSE:INSP) had its price objective trimmed by Truist Financial from $250.00 to $235.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Piper Sandler reduced their price objective on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a report on Monday. Robert W. Baird cut their price target on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a research note on Tuesday. KeyCorp reaffirmed an “overweight” rating and set a $234.00 price target (down from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $220.00 to $255.00 in a report on Wednesday, November 20th. Finally, Morgan Stanley decreased their target price on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Inspire Medical Systems presently has an average rating of “Moderate Buy” and a consensus price target of $228.82.

Inspire Medical Systems Price Performance

INSP opened at $183.17 on Tuesday. The business has a fifty day moving average price of $189.57 and a 200 day moving average price of $190.98. Inspire Medical Systems has a 12 month low of $123.00 and a 12 month high of $257.40. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 171.18 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, February 10th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates 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, research analysts anticipate that Inspire Medical Systems will post 1.33 earnings per share for the current year.

Institutional Investors Weigh In On Inspire Medical Systems

Large investors have recently modified their holdings of the company. First Horizon Advisors Inc. raised its position in Inspire Medical Systems by 885.7% in the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares during the last quarter. True Wealth Design LLC acquired a new position in Inspire Medical Systems in the third quarter valued at $30,000. Farther Finance Advisors LLC raised its holdings in shares of Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after buying an additional 139 shares during the last quarter. Harbour Investments Inc. boosted its stake in shares of Inspire Medical Systems by 101.0% during the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock worth $37,000 after buying an additional 99 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Inspire Medical Systems by 559.3% during the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock worth $38,000 after buying an additional 151 shares during the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

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.