Inspire Medical Systems, Inc. (NYSE:INSP) Receives $208.55 Average Target Price from Analysts

Key Points

• Inspire Medical Systems, Inc. has received a consensus rating of "Moderate Buy" from eleven analysts, with eight recommending a buy and three suggesting a hold.
• The company's stock has a market capitalization of $3.72 billion and recently reported earnings that exceeded expectations, with a quarterly revenue increase of 22.7% year-over-year.
• Institutional investors own 94.91% of Inspire Medical Systems' stock, indicating strong confidence in the company's performance and future prospects.

Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report) has received a consensus rating of "Moderate Buy" from the thirteen analysts that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $173.3077.

A number of analysts recently commented on INSP shares. Wall Street Zen cut shares of Inspire Medical Systems from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Lake Street Capital dropped their price objective on shares of Inspire Medical Systems from $270.00 to $150.00 and set a "buy" rating for the company in a report on Tuesday. Wells Fargo & Company dropped their price objective on Inspire Medical Systems from $174.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Robert W. Baird increased their price target on Inspire Medical Systems from $230.00 to $236.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Finally, Truist Financial reaffirmed a "hold" rating and issued a $125.00 target price (down from $190.00) on shares of Inspire Medical Systems in a report on Tuesday.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Huntington National Bank grew its stake in Inspire Medical Systems by 228.3% in the fourth quarter. Huntington National Bank now owns 174 shares of the company's stock valued at $32,000 after acquiring an additional 121 shares during the period. Parallel Advisors LLC increased its position in shares of Inspire Medical Systems by 356.5% in the first quarter. Parallel Advisors LLC now owns 210 shares of the company's stock worth $33,000 after purchasing an additional 164 shares during the period. True Wealth Design LLC increased its position in 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 in the last quarter. Quarry LP boosted its holdings in Inspire Medical Systems by 2,127.3% in the first quarter. Quarry LP now owns 245 shares of the company's stock valued at $39,000 after acquiring an additional 234 shares during the last quarter. Finally, Banque Transatlantique SA acquired a new stake in Inspire Medical Systems in the first quarter valued at approximately $46,000. Institutional investors own 94.91% of the company's stock.

Inspire Medical Systems Stock Performance

Shares of INSP stock traded down $54.49 during mid-day trading on Friday, reaching $75.47. 6,593,404 shares of the company were exchanged, compared to its average volume of 591,773. Inspire Medical Systems has a fifty-two week low of $73.92 and a fifty-two week high of $225.00. The business's 50 day simple moving average is $131.53 and its 200 day simple moving average is $154.30. The company has a market capitalization of $2.23 billion, a P/E ratio of 34.74, a P/E/G ratio of 1.93 and a beta of 1.22.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.23. Inspire Medical Systems had a net margin of 7.92% and a return on equity of 10.00%. The business had revenue of $217.09 million for the quarter, compared to analysts' expectations of $214.50 million. During the same period in the previous year, the business earned $0.32 earnings per share. The company's revenue was up 10.8% on a year-over-year basis. On average, analysts forecast that Inspire Medical Systems will post 2.16 EPS for the current 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.