Inspire Medical Systems (NYSE:INSP) PT Set at $230.00 by UBS Group

Key Points

• UBS Group has lowered its price target for Inspire Medical Systems from $270.00 to $230.00 while maintaining a "buy" rating, indicating a potential upside of 195.85% from the stock's current price.
• Multiple brokerage firms are adjusting their ratings, with KeyCorp downgrading to "sector weight" and Wells Fargo reducing their target price, suggesting a cautious outlook on the stock.
• Inspire Medical Systems reported a revenue increase of 10.8% year-over-year, with earnings per share of $0.45 for the last quarter, surpassing consensus estimates.

Inspire Medical Systems (NYSE:INSP - Get Free Report) has been given a $230.00 target price by equities researchers at UBS Group in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage presently has a "buy" rating on the stock. UBS Group's target price suggests a potential upside of 197.95% from the stock's current price.

INSP has been the topic of several other research reports. Wall Street Zen downgraded shares of Inspire Medical Systems from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Wells Fargo & Company reduced their price target on shares of Inspire Medical Systems from $195.00 to $174.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Truist Financial reaffirmed a "hold" rating and set a $125.00 price objective (down previously from $190.00) on shares of Inspire Medical Systems in a report on Tuesday. Piper Sandler cut their target price on shares of Inspire Medical Systems from $233.00 to $150.00 and set an "overweight" rating for the company in a research note on Tuesday. Finally, Royal Bank Of Canada decreased their price target on Inspire Medical Systems from $215.00 to $180.00 and set an "outperform" rating on the stock in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $173.31.

Inspire Medical Systems Stock Performance

NYSE:INSP opened at $77.20 on Tuesday. The company has a 50-day moving average of $127.94 and a 200-day moving average of $152.62. Inspire Medical Systems has a 52 week low of $73.92 and a 52 week high of $225.00. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 44.62, a PEG ratio of 2.35 and a beta of 1.22.

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

Institutional Investors Weigh In On Inspire Medical Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Huntington National Bank lifted its holdings in Inspire Medical Systems by 228.3% in the fourth quarter. Huntington National Bank now owns 174 shares of the company's stock valued at $32,000 after buying an additional 121 shares during the period. Parallel Advisors LLC raised its position 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 valued at $33,000 after acquiring an additional 164 shares during the last quarter. True Wealth Design LLC raised its position in shares of Inspire Medical Systems by 39.0% during the 4th quarter. True Wealth Design LLC now owns 196 shares of the company's stock valued at $36,000 after acquiring an additional 55 shares during the last quarter. Quarry LP lifted its stake in shares of Inspire Medical Systems by 2,127.3% in the 1st quarter. Quarry LP now owns 245 shares of the company's stock valued at $39,000 after purchasing an additional 234 shares during the period. Finally, Banque Transatlantique SA bought a new position in shares of Inspire Medical Systems in the 1st quarter worth $46,000. Institutional investors 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.