Inspire Medical Systems (NYSE:INSP) Price Target Cut to $216.00 by Analysts at KeyCorp

Inspire Medical Systems (NYSE:INSP - Free Report) had its price objective lowered by KeyCorp from $234.00 to $216.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also recently weighed in on INSP. Truist Financial decreased their price objective on Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Wells Fargo & Company decreased their price target on shares of Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 11th. Royal Bank of Canada cut their price objective on shares of 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 decreased their target price on shares of Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating for the company in a research report on Tuesday, February 11th. Finally, Morgan Stanley cut their price target on shares of Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating on the stock in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $218.90.

Inspire Medical Systems Stock Up 0.5 %

Shares of INSP stock traded up $0.77 on Monday, hitting $158.97. The stock had a trading volume of 315,939 shares, compared to its average volume of 583,830. Inspire Medical Systems has a one year low of $123.00 and a one year high of $257.40. The business has a 50 day moving average price of $162.86 and a 200 day moving average price of $181.43. The company has a market cap of $4.73 billion, a PE ratio of 91.89, a P/E/G ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. Equities research analysts expect that Inspire Medical Systems will post 2.16 EPS for the current year.

Insider Buying and Selling

In other news, CTO John Rondoni sold 583 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the sale, the chief technology officer now owns 10,424 shares in the company, valued at $1,777,187.76. This represents a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Randy Ban sold 25,584 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the sale, the insider now directly owns 7,259 shares in the company, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company's stock.

Institutional Investors Weigh In On Inspire Medical Systems

Several hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC increased its holdings in shares of Inspire Medical Systems by 178.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company's stock valued at $66,000 after purchasing an additional 229 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Inspire Medical Systems during the fourth quarter valued at $313,000. Jennison Associates LLC purchased a new position in Inspire Medical Systems in the fourth quarter valued at $8,821,000. Janney Montgomery Scott LLC raised its position in shares of Inspire Medical Systems by 248.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,806 shares of the company's stock worth $891,000 after acquiring an additional 3,427 shares during the period. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of Inspire Medical Systems in the fourth quarter worth about $292,000. Hedge funds and other 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.