Inspire Medical Systems (NYSE:INSP) Earns “Hold” Rating from Stifel Nicolaus

Inspire Medical Systems (NYSE:INSP)‘s stock had its “hold” rating reissued by equities researchers at Stifel Nicolaus in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $200.00 target price on the stock, up from their previous target price of $170.00. Stifel Nicolaus’ target price would suggest a potential downside of 5.50% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on INSP. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, August 7th. Truist Financial reiterated a “buy” rating and issued a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Morgan Stanley decreased their price target on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Leerink Partners lifted their price objective on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 10th. Finally, Robert W. Baird increased their target price on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $227.75.

Inspire Medical Systems Stock Up 6.3 %

INSP stock opened at $211.63 on Tuesday. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of 197.79 and a beta of 1.36. The firm has a 50 day moving average of $201.94 and a two-hundred day moving average of $179.94. Inspire Medical Systems has a 12 month low of $123.00 and a 12 month high of $257.40.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.51%. The firm had revenue of $203.20 million for the quarter, compared to the consensus estimate of $197.59 million. During the same period in the prior year, the business posted ($0.29) earnings per share. The business’s quarterly revenue was up 32.6% on a year-over-year basis. On average, research analysts expect that Inspire Medical Systems will post 0.75 EPS for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In related news, insider Randy Ban sold 4,861 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $188.55, for a total value of $916,541.55. Following the completion of the transaction, the insider now owns 3,056 shares of the company’s stock, valued at $576,208.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the sale, the director now owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the transaction, the insider now directly owns 3,056 shares of the company’s stock, valued at $576,208.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,692 shares of company stock valued at $1,099,207. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Inspire Medical Systems

Several hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in Inspire Medical Systems by 798.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock worth $56,530,000 after acquiring an additional 238,034 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Inspire Medical Systems by 32.3% during the second quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock worth $105,433,000 after purchasing an additional 192,238 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Inspire Medical Systems by 51.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock valued at $98,754,000 after buying an additional 156,893 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Inspire Medical Systems by 152.7% in the second quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock valued at $31,028,000 after buying an additional 140,090 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Inspire Medical Systems by 3,812.6% during the 3rd quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock worth $29,777,000 after buying an additional 137,483 shares in the last quarter. 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.