Inspire Medical Systems (NYSE:INSP) Earns Outperform Rating from Analysts at Royal Bank of Canada

Investment analysts at Royal Bank of Canada began coverage on shares of Inspire Medical Systems (NYSE:INSP - Get Free Report) in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage set an "outperform" rating and a $285.00 price target on the stock. Royal Bank of Canada's price target suggests a potential upside of 24.31% from the stock's current price.

Other analysts have also recently issued reports about the company. Truist Financial reiterated a "buy" rating and issued a $280.00 price objective on shares of Inspire Medical Systems in a research note on Wednesday, March 20th. Stifel Nicolaus reissued a "hold" rating and issued a $210.00 target price on shares of Inspire Medical Systems in a report on Tuesday, January 2nd. KeyCorp initiated coverage on Inspire Medical Systems in a report on Tuesday, February 6th. They issued an "overweight" rating and a $278.00 target price on the stock. Morgan Stanley initiated coverage on Inspire Medical Systems in a report on Tuesday, March 19th. They issued an "overweight" rating and a $250.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on Inspire Medical Systems in a report on Friday, January 19th. They issued a "buy" rating and a $245.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Inspire Medical Systems has a consensus rating of "Moderate Buy" and an average target price of $272.20.

Inspire Medical Systems Price Performance

Shares of NYSE INSP traded down $11.89 during mid-day trading on Friday, hitting $229.26. The company had a trading volume of 556,123 shares, compared to its average volume of 536,842. The company has a market capitalization of $6.95 billion, a PE ratio of -325.84 and a beta of 1.37. Inspire Medical Systems has a 1-year low of $123.27 and a 1-year high of $330.00. The business's 50-day simple moving average is $202.84 and its 200 day simple moving average is $183.76.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.53. The business had revenue of $192.51 million for the quarter, compared to analysts' expectations of $186.75 million. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The company's revenue for the quarter was up 39.6% compared to the same quarter last year. During the same period last year, the firm earned $0.10 earnings per share. On average, analysts expect that Inspire Medical Systems will post -0.35 EPS for the current year.

Insider Buying and Selling

In related news, CFO Richard Buchholz sold 15,000 shares of the firm's stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the transaction, the chief financial officer now owns 28,271 shares of the company's stock, valued at $6,503,178.13. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Timothy P. Herbert sold 40,000 shares of the firm's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $205.09, for a total value of $8,203,600.00. Following the completion of the sale, the chief executive officer now owns 63,658 shares in the company, valued at $13,055,619.22. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Richard Buchholz sold 15,000 shares of the firm's stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the completion of the sale, the chief financial officer now owns 28,271 shares of the company's stock, valued at approximately $6,503,178.13. The disclosure for this sale can be found here. Insiders have sold a total of 76,371 shares of company stock valued at $15,664,278 over the last quarter. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Inspire Medical Systems

A number of hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its position in Inspire Medical Systems by 0.5% in the first quarter. Wasatch Advisors LP now owns 1,102,867 shares of the company's stock valued at $236,885,000 after purchasing an additional 5,522 shares during the period. Diversified Trust Co lifted its position in Inspire Medical Systems by 26.6% in the first quarter. Diversified Trust Co now owns 5,471 shares of the company's stock valued at $1,175,000 after purchasing an additional 1,150 shares during the period. Private Ocean LLC acquired a new stake in Inspire Medical Systems in the first quarter valued at about $2,738,000. Rheos Capital Works Inc. lifted its position in Inspire Medical Systems by 25.8% in the first quarter. Rheos Capital Works Inc. now owns 79,400 shares of the company's stock valued at $17,054,000 after purchasing an additional 16,300 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its position in Inspire Medical Systems by 176,312.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 14,113 shares of the company's stock valued at $3,031,000 after purchasing an additional 14,105 shares during the period. 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.