Inspire Medical Systems (NYSE:INSP) Stock Rating Reaffirmed by Royal Bank of Canada

Inspire Medical Systems (NYSE:INSP)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank of Canada in a research report issued on Wednesday, Benzinga reports. They currently have a $260.00 price objective on the stock. Royal Bank of Canada’s price target indicates a potential upside of 34.55% from the company’s current price.

Several other research analysts have also issued reports on INSP. Stifel Nicolaus cut their target price on shares of Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Truist Financial dropped their price objective on shares of Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Bank of America dropped their price objective on shares of Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. Piper Sandler raised their price objective on shares of Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Finally, Robert W. Baird dropped their price objective on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $219.79.

Inspire Medical Systems Trading Up 2.9 %

NYSE INSP traded up $5.52 on Wednesday, hitting $193.23. 651,554 shares of the company were exchanged, compared to its average volume of 610,963. The company has a market cap of $5.74 billion, a PE ratio of -341.75 and a beta of 1.31. Inspire Medical Systems has a 12 month low of $123.00 and a 12 month high of $257.40. The stock has a fifty day moving average of $147.56 and a 200-day moving average of $182.78.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.46. The business had revenue of $195.89 million for the quarter, compared to analyst estimates of $189.08 million. Inspire Medical Systems had a negative net margin of 2.38% and a negative return on equity of 2.82%. Inspire Medical Systems’s revenue was up 29.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.41) earnings per share. On average, analysts expect that Inspire Medical Systems will post 0.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. SouthState Corp purchased a new stake in Inspire Medical Systems during the second quarter worth about $27,000. Principal Securities Inc. purchased a new stake in Inspire Medical Systems during the fourth quarter worth about $54,000. Daiwa Securities Group Inc. purchased a new stake in Inspire Medical Systems during the second quarter worth about $53,000. RiverPark Advisors LLC increased its holdings in Inspire Medical Systems by 360.1% during the first quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock worth $166,000 after buying an additional 605 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Inspire Medical Systems during the fourth quarter worth about $166,000. 94.91% of the stock is owned by institutional investors.

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.