KeyCorp Lowers Inspire Medical Systems (NYSE:INSP) Price Target to $197.00

Inspire Medical Systems (NYSE:INSP - Get Free Report) had its price objective cut by analysts at KeyCorp from $216.00 to $197.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. KeyCorp's target price would indicate a potential upside of 53.27% from the company's previous close.

Other analysts also recently issued research reports about the company. Stifel Nicolaus lowered their target price on Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company decreased their price target 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. Royal Bank Of Canada lowered their price target on Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Robert W. Baird increased their price objective on Inspire Medical Systems from $230.00 to $236.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Inspire Medical Systems from $235.00 to $195.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Inspire Medical Systems presently has a consensus rating of "Moderate Buy" and an average target price of $208.55.

Inspire Medical Systems Stock Down 2.3%

Shares of NYSE:INSP traded down $3.02 during mid-day trading on Tuesday, reaching $128.53. 539,988 shares of the stock were exchanged, compared to its average volume of 569,963. The company has a market cap of $3.79 billion, a P/E ratio of 60.62, a P/E/G ratio of 2.01 and a beta of 1.25. The stock's 50 day simple moving average is $134.53 and its 200-day simple moving average is $158.34. Inspire Medical Systems has a one year low of $123.00 and a one year high of $225.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.23) by $0.33. The company had revenue of $201.32 million for the quarter, compared to the consensus estimate of $194.89 million. Inspire Medical Systems had a net margin of 7.92% and a return on equity of 10.00%. The firm's revenue was up 22.7% compared to the same quarter last year. During the same period last year, the company earned ($0.34) earnings per share. Analysts anticipate that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Shawn Mccormick sold 360 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $160.00, for a total value of $57,600.00. Following the transaction, the director owned 24,046 shares of the company's stock, valued at approximately $3,847,360. This represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.10% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Aberdeen Group plc boosted its position in Inspire Medical Systems by 100.3% during the 2nd quarter. Aberdeen Group plc now owns 243,102 shares of the company's stock worth $31,547,000 after buying an additional 121,741 shares during the period. KLP Kapitalforvaltning AS increased its stake in Inspire Medical Systems by 10.5% in the second quarter. KLP Kapitalforvaltning AS now owns 6,300 shares of the company's stock valued at $818,000 after purchasing an additional 600 shares in the last quarter. 111 Capital bought a new position in Inspire Medical Systems in the second quarter worth approximately $300,000. Janney Montgomery Scott LLC grew its position in Inspire Medical Systems by 22.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 5,316 shares of the company's stock valued at $690,000 after purchasing an additional 984 shares during the period. Finally, Tempus Wealth Planning LLC acquired a new position in Inspire Medical Systems during the 2nd quarter valued at about $338,000. 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.