JPMorgan Chase & Co. Has Lowered Expectations for Inspire Medical Systems (NYSE:INSP) Stock Price

Inspire Medical Systems (NYSE:INSP - Get Free Report) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $235.00 to $195.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 27.44% from the stock's current price.

A number of other analysts have also recently commented on the stock. Royal Bank of Canada dropped 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 report on Tuesday, April 15th. Morgan Stanley decreased their target price on shares of Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating for the company in a research note on Tuesday, February 11th. Robert W. Baird lifted their target price on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the company an "outperform" rating in a report on Tuesday. Piper Sandler cut their price target on 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. Finally, Stifel Nicolaus lowered their price objective on Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating for the company in a research note on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Inspire Medical Systems has an average rating of "Moderate Buy" and a consensus price target of $211.91.

Inspire Medical Systems Stock Up 0.1 %

Shares of INSP traded up $0.22 during trading hours on Tuesday, reaching $153.01. 17,890 shares of the company traded hands, compared to its average volume of 570,355. Inspire Medical Systems has a 12 month low of $123.00 and a 12 month high of $225.00. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of 88.45, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. The company's fifty day moving average price is $158.28 and its two-hundred day moving average price is $178.63.

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

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $160.00, for a total transaction of $57,600.00. Following the completion of the sale, the director now directly owns 24,046 shares in the company, valued at $3,847,360. The trade was a 1.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO John Rondoni sold 583 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the transaction, the chief technology officer now owns 10,424 shares in the company, valued at $1,777,187.76. This trade represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,527 shares of company stock worth $4,851,660 over the last three months. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of Inspire Medical Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. grew 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 valued at $26,000 after acquiring an additional 124 shares during the period. Huntington National Bank lifted its position in Inspire Medical Systems by 228.3% during the fourth quarter. Huntington National Bank now owns 174 shares of the company's stock valued at $32,000 after purchasing an additional 121 shares in the last quarter. Parallel Advisors LLC grew its holdings in Inspire Medical Systems by 356.5% during the first quarter. Parallel Advisors LLC now owns 210 shares of the company's stock valued at $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% in the fourth quarter. True Wealth Design LLC now owns 196 shares of the company's stock worth $36,000 after buying an additional 55 shares in the last quarter. Finally, Harbour Investments Inc. increased its position in Inspire Medical Systems by 101.0% in the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company's stock worth $37,000 after buying an additional 99 shares in the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

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.