Wells Fargo & Company Cuts Inspire Medical Systems (NYSE:INSP) Price Target to $174.00

Inspire Medical Systems (NYSE:INSP - Get Free Report) had its target price decreased by equities researchers at Wells Fargo & Company from $195.00 to $174.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target points to a potential upside of 21.01% from the stock's previous close.

Several other research firms also recently issued reports on INSP. Truist Financial reduced their price objective on Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Robert W. Baird boosted their price objective on Inspire Medical Systems from $230.00 to $236.00 and gave the company an "outperform" rating in a research report on Tuesday. Morgan Stanley dropped their price objective on shares of Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 11th. Piper Sandler cut their price target on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Finally, Stifel Nicolaus reduced their price objective on shares of Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating for the company in a research note on Monday, April 21st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $215.60.

Inspire Medical Systems Stock Down 9.4 %

Inspire Medical Systems stock opened at $143.79 on Tuesday. The firm has a fifty day moving average of $159.91 and a 200-day moving average of $179.25. Inspire Medical Systems has a 52-week low of $123.00 and a 52-week high of $256.11. The firm has a market capitalization of $4.28 billion, a P/E ratio of 79.48, a PEG ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of ($0.23) by $0.33. The firm 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 8.19% and a net margin of 6.67%. The business's quarterly revenue was up 22.7% compared to the same quarter last year. During the same period last year, the company posted ($0.34) EPS. On average, research analysts expect that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling at Inspire Medical Systems

In related news, CTO John Rondoni sold 583 shares of the firm's 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 transaction, the chief technology officer now directly owns 10,424 shares in the company, valued at $1,777,187.76. This trade represents a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Randy Ban sold 25,584 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the completion of the transaction, the insider now owns 7,259 shares of the company's stock, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,527 shares of company stock valued at $4,851,660 over the last quarter. Corporate insiders own 4.10% of the company's stock.

Institutional Trading of Inspire Medical Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its stake in shares of Inspire Medical Systems by 178.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 357 shares of the company's stock valued at $66,000 after purchasing an additional 229 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of Inspire Medical Systems during the fourth quarter worth about $313,000. Jennison Associates LLC acquired a new stake in shares of Inspire Medical Systems in the 4th quarter valued at approximately $8,821,000. Janney Montgomery Scott LLC boosted its holdings in shares of Inspire Medical Systems by 248.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,806 shares of the company's stock worth $891,000 after buying an additional 3,427 shares during the period. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Inspire Medical Systems in the fourth quarter valued at approximately $292,000. Institutional investors and hedge funds own 94.91% of the company's stock.

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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