Inspire Medical Systems (NYSE:INSP) Price Target Cut to $64.00 by Analysts at Truist Financial

Key Points

• Truist Financial cut its price target on Inspire Medical Systems from $70 to $64 and kept a "hold" rating, which implies about a 10.08% upside from the stock's previous close.
• Analyst consensus remains a "Hold" with a wide range of views — 1 Strong Buy, 5 Buy, 12 Hold, 1 Sell — and an average price target of $101.41, reflecting significant divergence among firms.
• Shares traded at $58.14 (up ~2.3%) with a market cap of $1.67B; the company recently beat quarterly estimates (EPS $1.65 vs $0.69 est.; revenue $269.1M vs $264.0M) and reported revenue up 12.2% YoY.

Inspire Medical Systems (NYSE:INSP - Get Free Report) had its price objective cut by research analysts at Truist Financial from $70.00 to $64.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's target price would indicate a potential upside of 10.08% from the stock's previous close.

Several other research analysts have also recently issued reports on INSP. Royal Bank Of Canada reissued a "sector perform" rating and set a $56.00 price target on shares of Inspire Medical Systems in a report on Tuesday. Wells Fargo & Company set a $70.00 target price on shares of Inspire Medical Systems and gave the stock an "equal weight" rating in a research report on Thursday, February 12th. Stifel Nicolaus lowered their target price on shares of Inspire Medical Systems from $85.00 to $70.00 and set a "buy" rating on the stock in a research report on Friday, April 10th. UBS Group set a $67.00 target price on shares of Inspire Medical Systems in a research report on Friday, February 13th. Finally, Robert W. Baird set a $74.00 target price on shares of Inspire Medical Systems and gave the stock a "neutral" rating in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $101.41.

Inspire Medical Systems Stock Up 2.3%

NYSE INSP traded up $1.31 during trading hours on Wednesday, hitting $58.14. 85,578 shares of the stock were exchanged, compared to its average volume of 1,225,104. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 2.83 and a beta of 0.86. Inspire Medical Systems has a 12-month low of $48.30 and a 12-month high of $163.35. The stock has a 50-day moving average of $58.70 and a 200 day moving average of $81.41.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.96. The firm had revenue of $269.08 million during the quarter, compared to analysts' expectations of $264.02 million. Inspire Medical Systems had a net margin of 15.95% and a return on equity of 10.96%. The firm's revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.15 earnings per share. On average, equities research analysts expect that Inspire Medical Systems will post 2.16 earnings per share for the current year.

Institutional Trading of Inspire Medical Systems

Large investors have recently modified their holdings of the business. CWM LLC grew its position in shares of Inspire Medical Systems by 216.1% in the fourth quarter. CWM LLC now owns 354 shares of the company's stock valued at $33,000 after purchasing an additional 242 shares during the last quarter. Havemeyer Place LP acquired a new stake in shares of Inspire Medical Systems in the fourth quarter valued at approximately $39,000. V Square Quantitative Management LLC acquired a new stake in shares of Inspire Medical Systems in the fourth quarter valued at approximately $40,000. Manning & Napier Advisors LLC acquired a new stake in shares of Inspire Medical Systems in the third quarter valued at approximately $32,000. Finally, Smartleaf Asset Management LLC grew its position in shares of Inspire Medical Systems by 84.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 449 shares of the company's stock valued at $42,000 after purchasing an additional 205 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

About Inspire Medical Systems

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.

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