Inspire Medical Systems (NYSE:INSP) Given New $85.00 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus cut its price target on Inspire Medical Systems to $85 (from $95) but kept a "Buy" rating, a target that implies roughly 33.8% upside from the stock's recent close.
• Analyst sentiment has softened overall — five Buys, thirteen Holds and one Sell — yielding a consensus "Hold" rating with an average price target of $104.24, while the stock trades around $63.52 and has a market cap near $1.82 billion.
• Fundamentals remain mixed: Inspire beat quarterly estimates with $1.65 EPS (vs. $0.69 est.) and revenue of $269.1M (up 12.2% YoY), despite the recent analyst downgrades and lower targets.

Inspire Medical Systems (NYSE:INSP - Get Free Report) had its price objective lowered by stock analysts at Stifel Nicolaus from $95.00 to $85.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price objective points to a potential upside of 33.82% from the stock's previous close.

INSP has been the subject of a number of other research reports. Truist Financial dropped their price target on Inspire Medical Systems from $96.00 to $70.00 and set a "hold" rating for the company in a research report on Thursday, February 12th. Royal Bank Of Canada dropped their target price on shares of Inspire Medical Systems from $90.00 to $68.00 and set a "sector perform" rating for the company in a research report on Thursday, February 12th. Robert W. Baird set a $74.00 price target on shares of Inspire Medical Systems and gave the stock a "neutral" rating in a report on Thursday, February 12th. Oppenheimer downgraded shares of Inspire Medical Systems from an "outperform" rating to a "market perform" rating in a report on Thursday, January 22nd. Finally, Morgan Stanley set a $60.00 price target on Inspire Medical Systems in a research note on Wednesday, February 18th. Five equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $104.24.

Inspire Medical Systems Stock Down 1.2%

NYSE:INSP traded down $0.80 during mid-day trading on Thursday, hitting $63.52. 13,080 shares of the stock traded hands, compared to its average volume of 1,371,113. The business's 50-day moving average price is $78.47 and its 200 day moving average price is $87.55. The company has a market cap of $1.82 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 3.23 and a beta of 0.74. Inspire Medical Systems has a 12-month low of $53.11 and a 12-month high of $189.49.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The company reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.96. Inspire Medical Systems had a net margin of 15.95% and a return on equity of 10.96%. The firm had revenue of $269.08 million during the quarter, compared to analyst estimates of $264.02 million. During the same period in the previous year, the business earned $1.15 EPS. The business's revenue for the quarter was up 12.2% on a year-over-year basis. Analysts anticipate that Inspire Medical Systems will post 2.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in Inspire Medical Systems by 16.0% in the 1st quarter. Royal Bank of Canada now owns 32,769 shares of the company's stock worth $5,220,000 after acquiring an additional 4,528 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in Inspire Medical Systems during the 1st quarter valued at about $524,000. Goldman Sachs Group Inc. raised its position in Inspire Medical Systems by 57.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 51,422 shares of the company's stock valued at $8,190,000 after purchasing an additional 18,857 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in Inspire Medical Systems by 2.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 8,572 shares of the company's stock worth $1,112,000 after buying an additional 201 shares during the period. Finally, Atria Investments Inc grew its position in shares of Inspire Medical Systems by 21.3% in the 2nd quarter. Atria Investments Inc now owns 2,948 shares of the company's stock worth $383,000 after buying an additional 517 shares during 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 is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company's flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.