Inspire Medical Systems (NYSE:INSP) Price Target Cut to $101.00 by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo & Company has decreased its price target for Inspire Medical Systems from $174.00 to $101.00, maintaining an "equal weight" rating.
• Inspire Medical Systems' stock has experienced a significant decline of 41.3%, with shares trading down to $76.29.
• Analysts' ratings on the stock are mixed, with seven holding a "hold" rating and six giving a "buy" rating, reflecting varying levels of investor confidence.

Inspire Medical Systems (NYSE:INSP - Get Free Report) had its target price decreased by stock analysts at Wells Fargo & Company from $174.00 to $101.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price would suggest a potential upside of 32.40% from the company's previous close.

Several other equities analysts have also commented on the company. UBS Group lowered their price objective on Inspire Medical Systems from $270.00 to $230.00 and set a "buy" rating for the company in a research report on Tuesday. Truist Financial reissued a "hold" rating and set a $125.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday. KeyCorp lowered Inspire Medical Systems from an "overweight" rating to a "sector weight" rating in a research report on Tuesday. JPMorgan Chase & Co. lowered Inspire Medical Systems from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $195.00 to $110.00 in a research report on Tuesday. Finally, Piper Sandler decreased their target price on Inspire Medical Systems from $233.00 to $150.00 and set an "overweight" rating for the company in a research report on Tuesday. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $175.25.

Inspire Medical Systems Stock Down 41.3%

Shares of Inspire Medical Systems stock traded down $53.66 on Tuesday, hitting $76.29. The stock had a trading volume of 4,009,718 shares, compared to its average volume of 570,627. Inspire Medical Systems has a one year low of $73.92 and a one year high of $225.00. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 35.22, a PEG ratio of 1.93 and a beta of 1.22. The stock's 50-day simple moving average is $131.53 and its two-hundred day simple moving average is $154.30.

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 (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.23. The firm had revenue of $217.09 million for the quarter, compared to analysts' expectations of $214.50 million. Inspire Medical Systems had a net margin of 7.92% and a return on equity of 10.00%. The business's revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business earned $0.32 earnings per share. As a group, equities analysts predict that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Institutional Trading of Inspire Medical Systems

A number of institutional investors have recently made changes to their positions in the company. Dragoneer Investment Group LLC purchased a new stake in Inspire Medical Systems in the fourth quarter valued at $161,486,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Inspire Medical Systems by 214.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,112,925 shares of the company's stock valued at $177,267,000 after purchasing an additional 759,090 shares during the period. Congress Asset Management Co. raised its position in Inspire Medical Systems by 3,943.6% in the first quarter. Congress Asset Management Co. now owns 307,555 shares of the company's stock valued at $48,987,000 after purchasing an additional 299,949 shares during the period. Marshall Wace LLP raised its position in Inspire Medical Systems by 1,775.3% in the fourth quarter. Marshall Wace LLP now owns 277,131 shares of the company's stock valued at $51,375,000 after purchasing an additional 262,353 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Inspire Medical Systems in the 4th quarter valued at $47,604,000. 94.91% of the stock is owned by institutional investors and hedge funds.

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.

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