Inspire Medical Systems (NYSE:INSP) Given a $150.00 Price Target at Lake Street Capital

Key Points

• Lake Street Capital has lowered its price target for Inspire Medical Systems from $270 to $150, while maintaining a "buy" rating, indicating a potential upside of 92.85% from the current price.
• Other analysts have similarly adjusted their ratings and targets, with Royal Bank of Canada setting a target of $180 and JPMorgan Chase downgrading to a "neutral" rating with a target of $110.
• Inspire Medical Systems reported a strong quarterly earnings result, with earnings per share of $0.45, exceeding estimates, and a revenue of $217.09 million, marking a 10.8% year-over-year increase.

Inspire Medical Systems (NYSE:INSP - Get Free Report) has been assigned a $150.00 price objective by analysts at Lake Street Capital in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a "buy" rating on the stock. Lake Street Capital's price objective indicates a potential upside of 91.58% from the stock's previous close.

A number of other analysts have also issued reports on the stock. Royal Bank Of Canada reduced their price target on shares of Inspire Medical Systems from $215.00 to $180.00 and set an "outperform" rating for the company in a research report on Tuesday, August 5th. Truist Financial reiterated a "hold" rating and set a $125.00 price target (down previously from $190.00) on shares of Inspire Medical Systems in a report on Tuesday, August 5th. JPMorgan Chase & Co. cut Inspire Medical Systems from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $195.00 to $110.00 in a research report on Tuesday, August 5th. Wells Fargo & Company cut their price objective on Inspire Medical Systems from $174.00 to $101.00 and set an "equal weight" rating for the company in a report on Tuesday, August 5th. Finally, Stifel Nicolaus lowered their target price on Inspire Medical Systems from $175.00 to $140.00 and set a "hold" rating for the company in a research note on Tuesday, August 5th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $173.31.

Inspire Medical Systems Price Performance

Shares of INSP stock traded down $0.85 during mid-day trading on Tuesday, hitting $78.30. The stock had a trading volume of 584,015 shares, compared to its average volume of 658,860. The company's 50-day simple moving average is $126.77 and its 200-day simple moving average is $151.38. Inspire Medical Systems has a fifty-two week low of $73.92 and a fifty-two week high of $225.00. The firm has a market cap of $2.32 billion, a PE ratio of 45.31, a PEG ratio of 2.44 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.23. The firm had revenue of $217.09 million for the quarter, compared to analysts' expectations of $214.50 million. Inspire Medical Systems had a net margin of 6.17% and a return on equity of 10.38%. Inspire Medical Systems's revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 earnings per share. On average, analysts expect that Inspire Medical Systems will post 2.16 EPS for the current year.

Institutional Investors Weigh In On Inspire Medical Systems

Several large investors have recently added to or reduced their stakes in INSP. Huntington National Bank lifted its holdings in shares of 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 purchasing an additional 121 shares in the last quarter. True Wealth Design LLC grew its position in Inspire Medical Systems by 39.0% during the fourth quarter. True Wealth Design LLC now owns 196 shares of the company's stock worth $36,000 after buying an additional 55 shares in the last quarter. Parallel Advisors LLC lifted its stake in Inspire Medical Systems by 356.5% during the first quarter. Parallel Advisors LLC now owns 210 shares of the company's stock worth $33,000 after purchasing an additional 164 shares during the last quarter. Quarry LP lifted its stake in Inspire Medical Systems by 2,127.3% during the first quarter. Quarry LP now owns 245 shares of the company's stock worth $39,000 after purchasing an additional 234 shares during the last quarter. Finally, Banque Transatlantique SA bought a new stake in shares of Inspire Medical Systems in the 1st quarter valued at about $46,000. 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.