Robert W. Baird Cuts Inspire Medical Systems (NYSE:INSP) Price Target to $200.00

Inspire Medical Systems (NYSE:INSP) had its target price cut by Robert W. Baird from $220.00 to $200.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

INSP has been the topic of several other reports. Truist Financial decreased 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. Royal Bank of Canada started coverage on Inspire Medical Systems in a research report on Friday, April 19th. They issued an outperform rating and a $285.00 price objective for the company. Morgan Stanley lowered their target price on Inspire Medical Systems from $250.00 to $210.00 and set an overweight rating for the company in a research note on Monday, July 15th. Bank of America reduced their price target on shares of Inspire Medical Systems from $225.00 to $185.00 and set a neutral rating on the stock in a research report on Monday, June 3rd. Finally, 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 report on Wednesday, May 8th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Inspire Medical Systems presently has an average rating of Moderate Buy and an average target price of $219.79.

Inspire Medical Systems Price Performance

Shares of NYSE INSP traded up $5.52 during trading hours on Wednesday, reaching $193.23. The stock had a trading volume of 651,570 shares, compared to its average volume of 610,963. The company has a market cap of $5.74 billion, a price-to-earnings ratio of -351.33 and a beta of 1.31. The business’s fifty day moving average is $148.25 and its two-hundred day moving average is $182.52. Inspire Medical Systems has a twelve month low of $123.00 and a twelve month high of $257.40.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly 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. Inspire Medical Systems had a negative net margin of 2.38% and a negative return on equity of 2.82%. The firm had revenue of $195.89 million during the quarter, compared to analyst estimates of $189.08 million. During the same quarter in the prior year, the business posted ($0.41) earnings per share. The company’s quarterly revenue was up 29.6% compared to the same quarter last year. Sell-side analysts forecast that Inspire Medical Systems will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of INSP. Massmutual Trust Co. FSB ADV boosted its position in shares of Inspire Medical Systems by 176,312.5% during the first quarter. Massmutual Trust Co. FSB ADV now owns 14,113 shares of the company’s stock worth $3,031,000 after purchasing an additional 14,105 shares in the last quarter. Bullseye Asset Management LLC grew its stake in Inspire Medical Systems by 119.6% in the fourth quarter. Bullseye Asset Management LLC now owns 27,199 shares of the company’s stock valued at $5,534,000 after acquiring an additional 14,812 shares during the period. Private Ocean LLC bought a new stake in shares of Inspire Medical Systems in the first quarter worth about $2,738,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Inspire Medical Systems during the fourth quarter worth about $1,271,000. Finally, Gilliland Jeter Wealth Management LLC bought a new position in shares of Inspire Medical Systems during the 4th quarter valued at about $3,369,000. Institutional investors 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.