Analysts Set Inspire Medical Systems, Inc. (NYSE:INSP) PT at $164.50

Key Points

• Inspire Medical Systems, Inc. has received a consensus rating of "Moderate Buy" from 14 brokerages, with an average 1-year price target of $164.50.
• The company's CFO sold 11,000 shares at an average price of $93.39, decreasing his position by 19.69%.
• Inspire Medical recently reported earnings of $0.45 EPS for the quarter, exceeding analysts' expectations and showing a 10.8% year-over-year increase in revenue.

Shares of Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report) have earned a consensus rating of "Moderate Buy" from the fourteen analysts that are presently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $154.4286.

A number of equities analysts recently weighed in on INSP shares. Truist Financial restated a "hold" rating and set a $125.00 target price (down previously from $190.00) on shares of Inspire Medical Systems in a research report on Tuesday, August 5th. Leerink Partners dropped their target price on shares of Inspire Medical Systems from $116.00 to $97.00 and set a "market perform" rating for the company in a research report on Friday, August 15th. JPMorgan Chase & Co. lowered shares of Inspire Medical Systems from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $195.00 to $110.00 in a research report on Tuesday, August 5th. Wells Fargo & Company lowered their price objective on shares of Inspire Medical Systems from $174.00 to $101.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 5th. Finally, Stifel Nicolaus set a $140.00 price objective on shares of Inspire Medical Systems and gave the company a "hold" rating in a research report on Tuesday, August 5th.

Insider Buying and Selling

In related news, CFO Richard Buchholz sold 11,000 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $93.39, for a total value of $1,027,290.00. Following the transaction, the chief financial officer owned 44,867 shares of the company's stock, valued at $4,190,129.13. This trade represents a 19.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of Inspire Medical Systems

A number of institutional investors have recently bought and sold shares of INSP. Parallel Advisors LLC boosted its stake in Inspire Medical Systems by 356.5% in the 1st quarter. Parallel Advisors LLC now owns 210 shares of the company's stock worth $33,000 after purchasing an additional 164 shares in the last quarter. Quarry LP boosted its stake in Inspire Medical Systems by 2,127.3% in the 1st quarter. Quarry LP now owns 245 shares of the company's stock worth $39,000 after purchasing an additional 234 shares in the last quarter. Banque Transatlantique SA acquired a new stake in Inspire Medical Systems during the 1st quarter valued at approximately $46,000. Daiwa Securities Group Inc. lifted its stake in Inspire Medical Systems by 38.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company's stock valued at $60,000 after acquiring an additional 130 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in Inspire Medical Systems by 27.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 454 shares of the company's stock valued at $71,000 after acquiring an additional 97 shares during the period. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Stock Performance

Shares of INSP traded down $0.91 during mid-day trading on Friday, reaching $77.63. The stock had a trading volume of 406,295 shares, compared to its average volume of 724,293. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 44.75, a PEG ratio of 2.49 and a beta of 1.15. Inspire Medical Systems has a 12 month low of $73.92 and a 12 month high of $217.91. The business has a fifty day moving average of $98.63 and a 200 day moving average of $129.96.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.23. Inspire Medical Systems had a net margin of 6.17% and a return on equity of 10.38%. The firm had revenue of $217.09 million during the quarter, compared to analyst estimates of $214.50 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. Inspire Medical Systems's revenue for the quarter was up 10.8% on a year-over-year basis. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. On average, research analysts forecast that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Inspire Medical Systems announced that its Board of Directors has authorized a stock buyback plan on Monday, August 11th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 8.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

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.