Royal Bank Of Canada Cuts Inspire Medical Systems (NYSE:INSP) Price Target to $180.00

Key Points

• Royal Bank of Canada has lowered its price target for Inspire Medical Systems from $215.00 to $180.00, while maintaining an "outperform" rating, indicating a potential upside of 124.78% based on the current stock price.
• Other analysts have also lowered their ratings and price targets, with JPMorgan Chase cutting its rating from "overweight" to "neutral" and reducing its target to $110.00.
• Inspire Medical Systems recently reported a net margin of 7.92% and revenue of $217.09 million for the most recent quarter, marking a 10.8% increase year-over-year.

Inspire Medical Systems (NYSE:INSP - Get Free Report) had its price objective reduced by equities research analysts at Royal Bank Of Canada from $215.00 to $180.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target suggests a potential upside of 129.20% from the stock's previous close.

Other research analysts have also recently issued reports about the company. Wall Street Zen cut Inspire Medical Systems from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. KeyCorp lowered shares of Inspire Medical Systems from an "overweight" rating to a "sector weight" rating in a report on Tuesday. Piper Sandler decreased 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 report on Tuesday. Morgan Stanley lowered their price objective on shares of Inspire Medical Systems from $200.00 to $182.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Finally, Truist Financial reaffirmed a "hold" rating and set a $125.00 price target (down previously from $190.00) on shares of Inspire Medical Systems in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Inspire Medical Systems currently has a consensus rating of "Moderate Buy" and an average price target of $173.31.

Inspire Medical Systems Stock Down 10.7%

NYSE:INSP opened at $78.54 on Tuesday. The stock has a market cap of $2.32 billion, a P/E ratio of 45.40, a PEG ratio of 6.76 and a beta of 1.22. The business's 50-day moving average price is $130.39 and its two-hundred day moving average price is $153.83. Inspire Medical Systems has a twelve month low of $73.92 and a twelve month high of $225.00.

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, beating the consensus estimate of $0.22 by $0.23. Inspire Medical Systems had a net margin of 6.17% and a return on equity of 10.38%. The firm had revenue of $217.09 million for the quarter, compared to analysts' expectations of $214.50 million. During the same quarter last year, the company posted $0.32 EPS. The business's quarterly revenue was up 10.8% on a year-over-year basis. On average, equities research analysts expect that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. True Wealth Design LLC grew its stake in shares of Inspire Medical Systems by 39.0% in the 4th quarter. True Wealth Design LLC now owns 196 shares of the company's stock worth $36,000 after buying an additional 55 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Inspire Medical Systems by 2.0% in the fourth quarter. Captrust Financial Advisors now owns 3,034 shares of the company's stock worth $562,000 after acquiring an additional 59 shares in the last quarter. MML Investors Services LLC boosted its holdings in Inspire Medical Systems by 0.9% in the fourth quarter. MML Investors Services LLC now owns 7,941 shares of the company's stock worth $1,472,000 after acquiring an additional 67 shares in the last quarter. Mariner LLC grew its stake in shares of Inspire Medical Systems by 1.6% in the fourth quarter. Mariner LLC now owns 4,837 shares of the company's stock worth $897,000 after acquiring an additional 77 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Inspire Medical Systems by 14.6% during the second quarter. Farther Finance Advisors LLC now owns 603 shares of the company's stock valued at $78,000 after acquiring an additional 77 shares in 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.