Stifel Nicolaus Reiterates "$140.00" Price Target for Inspire Medical Systems (NYSE:INSP)

Key Points

• Stifel Nicolaus has lowered its price target for Inspire Medical Systems from $175.00 to $140.00, maintaining a "hold" rating on the stock, which indicates a potential upside of 7.04% from the previous close.
• Multiple analysts have adjusted their ratings and price targets for Inspire Medical Systems in recent months, with some downgrading their ratings and significantly lowering targets, reflecting a consensus average price target of $187.64.
• The company's recent quarterly earnings report revealed an EPS of $0.45, surpassing expectations and marking a 10.8% increase in revenue compared to the same quarter last year.

Inspire Medical Systems (NYSE:INSP - Get Free Report) received a $140.00 price objective from investment analysts at Stifel Nicolaus in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm presently has a "hold" rating on the stock. Stifel Nicolaus' target price points to a potential upside of 78.26% from the stock's current price.

Several other equities research analysts also recently issued reports on INSP. Wells Fargo & Company reduced their price objective on Inspire Medical Systems from $195.00 to $174.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Morgan Stanley reduced their price objective on Inspire Medical Systems from $200.00 to $182.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. JPMorgan Chase & Co. downgraded Inspire Medical Systems from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $195.00 to $110.00 in a research note on Tuesday. KeyCorp downgraded Inspire Medical Systems from an "overweight" rating to a "sector weight" rating in a research note on Tuesday. Finally, Robert W. Baird increased their price objective on Inspire Medical Systems from $230.00 to $236.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $173.31.

Inspire Medical Systems Stock Performance

NYSE:INSP opened at $78.54 on Tuesday. Inspire Medical Systems has a 1 year low of $73.92 and a 1 year high of $225.00. The stock has a market cap 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 business has a fifty day moving average of $130.39 and a 200-day moving average of $153.83.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $217.09 million during the quarter, compared to analysts' expectations of $214.50 million. During the same quarter last year, the business posted $0.32 earnings per share. The company's quarterly revenue was up 10.8% on a year-over-year basis. On average, equities research analysts predict that Inspire Medical Systems will post 2.16 EPS for the current year.

Institutional Investors Weigh In On Inspire Medical Systems

Several hedge funds have recently modified their holdings of INSP. Dragoneer Investment Group LLC bought a new position in shares of Inspire Medical Systems in the 4th quarter worth about $161,486,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Inspire Medical Systems by 214.5% in the 1st 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 acquiring an additional 759,090 shares in the last quarter. Congress Asset Management Co. grew its stake in shares of Inspire Medical Systems by 3,943.6% in the 1st quarter. Congress Asset Management Co. now owns 307,555 shares of the company's stock valued at $48,987,000 after buying an additional 299,949 shares during the period. Marshall Wace LLP increased its position in Inspire Medical Systems by 1,775.3% in the 4th quarter. Marshall Wace LLP now owns 277,131 shares of the company's stock valued at $51,375,000 after buying an additional 262,353 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Inspire Medical Systems during the 4th quarter worth approximately $47,604,000. 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.