Robert W. Baird Issues Positive Forecast for Inspire Medical Systems (NYSE:INSP) Stock Price

Inspire Medical Systems (NYSE:INSP - Get Free Report) had its price objective hoisted by Robert W. Baird from $230.00 to $236.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Robert W. Baird's price target indicates a potential upside of 47.81% from the stock's previous close.

A number of other research analysts also recently issued reports on INSP. KeyCorp dropped their target price on shares of Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Piper Sandler lowered their price objective on shares of Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Wells Fargo & Company decreased their target price 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. Morgan Stanley cut their price target on Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating for the company in a research note on Tuesday, February 11th. 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 equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $217.70.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock opened at $159.67 on Tuesday. The stock's fifty day moving average price is $159.91 and its two-hundred day moving average price is $179.25. The firm has a market cap of $4.75 billion, a PE ratio of 92.29, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. Inspire Medical Systems has a one year low of $123.00 and a one year high of $256.11.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.33. The business had revenue of $201.32 million during the quarter, compared to the consensus estimate of $194.89 million. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. Inspire Medical Systems's revenue for the quarter was up 22.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.34) EPS. Sell-side analysts expect that Inspire Medical Systems will post 2.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $160.00, for a total value of $57,600.00. Following the completion of the transaction, the director now owns 24,046 shares of the company's stock, valued at $3,847,360. The trade was a 1.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO John Rondoni sold 583 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the transaction, the chief technology officer now directly owns 10,424 shares in the company, valued at $1,777,187.76. The trade was a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,527 shares of company stock worth $4,851,660 in the last three months. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Inspire Medical Systems

A number of large investors have recently bought and sold shares of INSP. Vanguard Group Inc. raised its stake in shares of Inspire Medical Systems by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company's stock valued at $606,259,000 after acquiring an additional 38,219 shares during the last quarter. Dragoneer Investment Group LLC purchased a new position in Inspire Medical Systems during the 4th quarter valued at about $161,486,000. Invesco Ltd. raised its position in Inspire Medical Systems by 14.3% during the 4th quarter. Invesco Ltd. now owns 793,080 shares of the company's stock valued at $147,021,000 after purchasing an additional 99,030 shares during the last quarter. Janus Henderson Group PLC lifted its holdings 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 worth $105,173,000 after buying an additional 64,703 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Inspire Medical Systems by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 486,341 shares of the company's stock worth $90,188,000 after buying an additional 2,687 shares during the last quarter. 94.91% of the stock is owned by hedge funds and other 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.

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