Piper Sandler Reiterates "$150.00" Price Target for Inspire Medical Systems (NYSE:INSP)

Key Points

• Analysts at Piper Sandler have reduced the price target for Inspire Medical Systems from $233.00 to $150.00, indicating a potential upside of 14.69% from the current stock price.
• Other firms, including JPMorgan Chase and Stifel Nicolaus, have also lowered their ratings and price targets for the stock, reflecting a broader trend in analyst sentiment.
• Despite these downgrades, Inspire Medical Systems reported a quarterly earnings per share of $0.45, surpassing expectations and showing a 10.8% year-over-year revenue increase.

Inspire Medical Systems (NYSE:INSP - Get Free Report) has been assigned a $150.00 target price by analysts at Piper Sandler in a report released on Tuesday, Marketbeat Ratings reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's price target points to a potential upside of 91.00% from the company's current price.

Several other equities analysts have also weighed in on the company. KeyCorp lowered Inspire Medical Systems from an "overweight" rating to a "sector weight" rating in a research note on Tuesday. Stifel Nicolaus set a $140.00 target price on shares of Inspire Medical Systems and gave the stock a "hold" rating in a research note on Tuesday. JPMorgan Chase & Co. downgraded shares of Inspire Medical Systems from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $195.00 to $110.00 in a research note on Tuesday. Truist Financial reaffirmed a "hold" rating and issued a $125.00 price objective (down from $190.00) on shares of Inspire Medical Systems in a research note on Tuesday. Finally, Wall Street Zen cut Inspire Medical Systems from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Inspire Medical Systems presently has an average rating of "Moderate Buy" and an average price target of $173.31.

Inspire Medical Systems Stock Performance

Shares of INSP stock opened at $78.54 on Tuesday. Inspire Medical Systems has a fifty-two week low of $73.92 and a fifty-two week high of $225.00. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 45.40, a PEG ratio of 6.76 and a beta of 1.22. The stock's 50-day simple moving average is $130.39 and its 200-day simple moving average is $153.83.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.22 by $0.23. The business had revenue of $217.09 million during the quarter, compared to analysts' expectations of $214.50 million. Inspire Medical Systems had a net margin of 6.17% and a return on equity of 10.38%. The business's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 EPS. As a group, equities analysts forecast that Inspire Medical Systems will post 2.16 earnings per share for the current year.

Hedge Funds Weigh In On Inspire Medical Systems

A number of institutional investors have recently modified their holdings of the business. SG Americas Securities LLC boosted its holdings in shares of Inspire Medical Systems by 14.7% in the first quarter. SG Americas Securities LLC now owns 4,055 shares of the company's stock valued at $646,000 after acquiring an additional 521 shares in the last quarter. GAMMA Investing LLC grew its stake in Inspire Medical Systems by 253.7% in the 1st quarter. GAMMA Investing LLC now owns 573 shares of the company's stock valued at $91,000 after acquiring an additional 411 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of Inspire Medical Systems by 132.7% during the 1st quarter. New York State Teachers Retirement System now owns 21,390 shares of the company's stock worth $3,407,000 after purchasing an additional 12,196 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Inspire Medical Systems by 1.7% in the first quarter. Bessemer Group Inc. now owns 7,183 shares of the company's stock worth $1,145,000 after acquiring an additional 123 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Inspire Medical Systems by 356.5% during the 1st quarter. Parallel Advisors LLC now owns 210 shares of the company's stock worth $33,000 after purchasing an additional 164 shares during the last quarter. 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.