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 target price by equities researchers at Lake Street Capital in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm presently has a "buy" rating on the stock. Lake Street Capital's target price indicates a potential upside of 88.01% from the stock's previous close.

Other research analysts have also issued research reports about the company. Truist Financial reiterated a "hold" rating and issued a $125.00 price target (down previously from $190.00) on shares of Inspire Medical Systems in a report on Tuesday. UBS Group set a $230.00 target price on Inspire Medical Systems and gave the stock a "buy" rating in a report on Tuesday. Robert W. Baird lifted their price target on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Royal Bank Of Canada lowered their price objective on shares of Inspire Medical Systems from $215.00 to $180.00 and set an "outperform" rating on the stock in a report on Tuesday. Finally, Piper Sandler dropped their price objective on shares of Inspire Medical Systems from $233.00 to $150.00 and set an "overweight" rating on the stock in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $173.31.

Inspire Medical Systems Price Performance

Shares of Inspire Medical Systems stock traded up $2.73 during midday trading on Tuesday, reaching $79.78. The company had a trading volume of 480,910 shares, compared to its average volume of 650,985. The stock has a fifty day moving average price of $127.94 and a 200 day moving average price of $152.62. 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 $2.36 billion, a PE ratio of 46.30, a P/E/G ratio of 2.35 and a beta of 1.22.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.23. The firm had revenue of $217.09 million during the quarter, compared to analyst estimates of $214.50 million. Inspire Medical Systems had a return on equity of 10.38% and a net margin of 6.17%. The business's quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the company posted $0.32 EPS. As a group, 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 have recently added to or reduced their stakes in INSP. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake 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 buying an additional 759,090 shares during the last quarter. Dragoneer Investment Group LLC bought a new stake in Inspire Medical Systems during the fourth quarter worth $161,486,000. Invesco Ltd. boosted its position in Inspire Medical Systems by 8.3% in the first quarter. Invesco Ltd. now owns 858,572 shares of the company's stock worth $136,753,000 after purchasing an additional 65,492 shares during the last quarter. William Blair Investment Management LLC grew its stake in Inspire Medical Systems by 11.0% in the 2nd quarter. William Blair Investment Management LLC now owns 769,169 shares of the company's stock valued at $99,815,000 after purchasing an additional 76,251 shares during the period. Finally, Janus Henderson Group PLC grew its stake in Inspire Medical Systems by 12.9% in the 4th quarter. Janus Henderson Group PLC now owns 567,312 shares of the company's stock valued at $105,173,000 after purchasing an additional 64,703 shares during the period. 94.91% of the stock is owned by institutional investors.

About Inspire Medical Systems

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.