Morgan Stanley Cuts Inspire Medical Systems (NYSE:INSP) Price Target to $182.00

Inspire Medical Systems (NYSE:INSP - Get Free Report) had its price target reduced by investment analysts at Morgan Stanley from $200.00 to $182.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Morgan Stanley's target price suggests a potential upside of 42.85% from the company's current price.

A number of other research firms have also weighed in on INSP. Stifel Nicolaus lowered their price target on shares of Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating for the company in a report on Monday, April 21st. Wall Street Zen raised shares of Inspire Medical Systems from a "hold" rating to a "buy" rating in a research report on Saturday. Wells Fargo & Company dropped their target price on 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. Robert W. Baird boosted their price target on Inspire Medical Systems from $230.00 to $236.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Finally, Royal Bank Of Canada lowered their price objective on Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Inspire Medical Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $210.27.

Inspire Medical Systems Price Performance

NYSE INSP traded down $0.59 during trading hours on Tuesday, hitting $127.41. The company had a trading volume of 776,669 shares, compared to its average volume of 558,524. The firm's 50 day moving average is $137.22 and its 200 day moving average is $160.42. Inspire Medical Systems has a fifty-two week low of $123.00 and a fifty-two week high of $225.00. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 58.71, a P/E/G ratio of 1.96 and a beta of 1.25.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its earnings results 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 business had revenue of $201.32 million during the quarter, compared to analyst estimates of $194.89 million. Inspire Medical Systems had a return on equity of 10.00% and a net margin of 7.92%. The company's revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.34) earnings per share. On average, equities analysts anticipate that Inspire Medical Systems will post 2.16 EPS for the current year.

Insider Activity at Inspire Medical Systems

In related 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 transaction of $57,600.00. Following the sale, the director directly owned 24,046 shares of the company's stock, valued at approximately $3,847,360. This represents a 1.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.10% of the company's stock.

Institutional Trading of Inspire Medical Systems

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Inspire Medical Systems by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company's stock valued at $606,259,000 after buying an additional 38,219 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Inspire Medical Systems by 214.5% in the first 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 acquiring an additional 759,090 shares during the last quarter. Dragoneer Investment Group LLC acquired a new position in Inspire Medical Systems in the fourth quarter valued at approximately $161,486,000. Invesco Ltd. grew its holdings in shares of Inspire Medical Systems by 8.3% during the first quarter. Invesco Ltd. now owns 858,572 shares of the company's stock valued at $136,753,000 after purchasing an additional 65,492 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Inspire Medical Systems by 12.9% during the 4th quarter. Janus Henderson Group PLC now owns 567,312 shares of the company's stock worth $105,173,000 after purchasing an additional 64,703 shares during the period. 94.91% of the stock is owned by institutional investors and hedge funds.

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.