Inspire Medical Systems (NYSE:INSP) Price Target Cut to $125.00 by Analysts at Evercore ISI

Key Points

• Evercore ISI has lowered its price target for Inspire Medical Systems from $150.00 to $125.00, while maintaining an "outperform" rating, suggesting a potential upside of 62.85% from the previous close.
• Inspire Medical Systems reported a successful quarter with $0.45 EPS, exceeding estimates, and a revenue increase of 10.8% year-over-year.
• Institutional investors own 94.91% of Inspire Medical Systems' stock, indicating strong confidence from market institutions in the company's performance.

Inspire Medical Systems (NYSE:INSP - Get Free Report) had its price target dropped by research analysts at Evercore ISI from $150.00 to $125.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Evercore ISI's price target suggests a potential upside of 62.85% from the company's previous close.

A number of other equities research analysts have also recently weighed in on INSP. Piper Sandler dropped their price objective on Inspire Medical Systems from $233.00 to $150.00 and set an "overweight" rating for the company in a research note on Tuesday, August 5th. UBS Group set a $89.00 price objective on Inspire Medical Systems and gave the company a "neutral" rating in a research note on Monday, September 22nd. Stifel Nicolaus set a $140.00 price objective on Inspire Medical Systems and gave the company a "hold" rating in a research note on Tuesday, August 5th. Wall Street Zen cut Inspire Medical Systems from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Truist Financial reissued a "hold" rating and set a $125.00 target price (down from $190.00) on shares of Inspire Medical Systems in a research note on Tuesday, August 5th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Inspire Medical Systems currently has an average rating of "Hold" and an average target price of $152.64.

Inspire Medical Systems Stock Up 0.5%

NYSE:INSP traded up $0.39 on Tuesday, reaching $76.76. The company's stock had a trading volume of 354,894 shares, compared to its average volume of 734,443. Inspire Medical Systems has a 12-month low of $70.77 and a 12-month high of $216.01. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 44.32, a price-to-earnings-growth ratio of 2.39 and a beta of 1.16. The stock has a 50 day moving average price of $88.09 and a 200 day moving average price of $123.69.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.23. Inspire Medical Systems had a return on equity of 10.38% and a net margin of 6.17%.The company had revenue of $217.09 million for the quarter, compared to the consensus estimate of $214.50 million. During the same quarter in the previous year, the business earned $0.32 earnings per share. The company'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. Equities research analysts expect that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Inspire Medical Systems declared that its Board of Directors has initiated a share repurchase program on Monday, August 11th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to repurchase up to 8.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its stock is undervalued.

Insider Activity

In other news, CFO Richard Buchholz sold 11,000 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $93.39, for a total transaction of $1,027,290.00. Following the completion of the transaction, the chief financial officer directly owned 44,867 shares of the company's stock, valued at approximately $4,190,129.13. This represents a 19.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.10% of the company's stock.

Institutional Investors Weigh In On Inspire Medical Systems

A number of institutional investors and hedge funds have recently modified their holdings of the company. Dragoneer Investment Group LLC grew its holdings in Inspire Medical Systems by 81.4% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,354,411 shares of the company's stock valued at $305,532,000 after buying an additional 1,056,808 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Inspire Medical Systems by 214.5% during 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 worth $177,267,000 after purchasing an additional 759,090 shares during the last quarter. Frontier Capital Management Co. LLC boosted its holdings in shares of Inspire Medical Systems by 59.9% during the second quarter. Frontier Capital Management Co. LLC now owns 693,203 shares of the company's stock worth $89,957,000 after purchasing an additional 259,716 shares during the last quarter. Man Group plc raised its position in shares of Inspire Medical Systems by 192.9% in the 2nd quarter. Man Group plc now owns 380,298 shares of the company's stock worth $49,351,000 after buying an additional 250,456 shares during the period. Finally, Norges Bank purchased a new position in shares of Inspire Medical Systems in the 2nd quarter worth $31,066,000. Institutional investors and hedge funds own 94.91% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.