Inspire Medical Systems, Inc. (NYSE:INSP) Receives $218.90 Average Price Target from Analysts

Shares of Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report) have been given an average recommendation of "Moderate Buy" by the ten analysts that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $218.90.

Several equities research analysts recently weighed in on the stock. Robert W. Baird cut their target price on shares of Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 11th. Piper Sandler cut their target price on shares of 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. Royal Bank of Canada cut their target price on shares of Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. KeyCorp cut their target price on shares of Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, Wells Fargo & Company cut their target price on shares of Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 11th.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock traded up $1.67 on Thursday, reaching $159.78. The company had a trading volume of 400,952 shares, compared to its average volume of 582,240. The firm's 50 day moving average price is $162.08 and its two-hundred day moving average price is $180.56. The firm has a market cap of $4.76 billion, a PE ratio of 92.36, a PEG ratio of 2.86 and a beta of 1.39. Inspire Medical Systems has a 52-week low of $123.00 and a 52-week high of $257.40.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. As a group, sell-side analysts predict that Inspire Medical Systems will post 2.16 EPS for the current year.

Insiders Place Their Bets

In other 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 sale, the chief technology officer now owns 10,424 shares in the company, valued at approximately $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the sale, the insider now 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. 4.10% of the stock is owned by company insiders.

Institutional Trading of Inspire Medical Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in INSP. Tidal Investments LLC acquired a new stake in shares of Inspire Medical Systems during the third quarter worth about $320,000. Synovus Financial Corp increased its position in Inspire Medical Systems by 7.5% in the 3rd quarter. Synovus Financial Corp now owns 3,502 shares of the company's stock valued at $739,000 after acquiring an additional 244 shares during the period. Oddo BHF Asset Management Sas acquired a new position in Inspire Medical Systems in the 3rd quarter valued at about $1,208,000. Principal Financial Group Inc. increased its position 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 acquiring an additional 137,483 shares during the period. Finally, Diversified Trust Co increased its position in Inspire Medical Systems by 3.8% in the 4th quarter. Diversified Trust Co now owns 4,686 shares of the company's stock valued at $869,000 after acquiring an additional 173 shares during the period. Institutional investors and hedge funds own 94.91% of the company's stock.

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.