Brokerages Set Inspire Medical Systems, Inc. (NYSE:INSP) Price Target at $211.91

Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report) has received a consensus rating of "Moderate Buy" from the eleven analysts that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $211.91.

A number of brokerages have issued reports on INSP. Truist Financial reduced their target price on Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. KeyCorp cut their price objective on Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Wells Fargo & Company cut their price objective on Inspire Medical Systems from $195.00 to $174.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Robert W. Baird lifted their price objective on Inspire Medical Systems from $230.00 to $236.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Finally, Stifel Nicolaus cut their price objective on Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating on the stock in a report on Monday, April 21st.

Inspire Medical Systems Price Performance

Shares of INSP stock traded down $2.71 during trading hours on Monday, hitting $143.24. 283,011 shares of the company's stock were exchanged, compared to its average volume of 557,327. The stock's 50-day moving average is $153.92 and its 200-day moving average is $175.26. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 82.80, a price-to-earnings-growth 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 $225.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.33. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. The business had revenue of $201.32 million for the quarter, compared to analysts' expectations of $194.89 million. During the same quarter last year, the business earned ($0.34) earnings per share. The firm's quarterly revenue was up 22.7% compared to the same quarter last year. Equities research analysts forecast that Inspire Medical Systems will post 2.16 earnings per share for the current fiscal year.

Insider Activity at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 360 shares of Inspire Medical Systems stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $160.00, for a total value of $57,600.00. Following the sale, the director now owns 24,046 shares of the company's stock, valued at approximately $3,847,360. This trade represents a 1.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. increased its position in shares of Inspire Medical Systems by 885.7% during the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company's stock worth $26,000 after purchasing an additional 124 shares during the last quarter. Huntington National Bank increased its position in shares of Inspire Medical Systems by 228.3% during the 4th quarter. Huntington National Bank now owns 174 shares of the company's stock worth $32,000 after purchasing an additional 121 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Inspire Medical Systems by 356.5% during the 1st quarter. Parallel Advisors LLC now owns 210 shares of the company's stock worth $33,000 after purchasing an additional 164 shares during the last quarter. True Wealth Design LLC increased its position in shares of Inspire Medical Systems by 39.0% during the 4th quarter. True Wealth Design LLC now owns 196 shares of the company's stock worth $36,000 after purchasing an additional 55 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in shares of Inspire Medical Systems by 101.0% during the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company's stock worth $37,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company's stock.

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.