Inspire Medical Systems’ (INSP) Hold Rating Reaffirmed at Stifel Nicolaus

Stifel Nicolaus reiterated their hold rating on shares of Inspire Medical Systems (NYSE:INSP) in a research report released on Tuesday, Benzinga reports. They currently have a $200.00 price target on the stock, up from their previous price target of $170.00.

A number of other analysts have also recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research report on Wednesday, August 7th. Truist Financial reaffirmed a “buy” rating and set a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Robert W. Baird boosted their price objective on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research note on Tuesday. Wells Fargo & Company raised their target price on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, KeyCorp dropped their price target on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $227.75.

Inspire Medical Systems Price Performance

Shares of Inspire Medical Systems stock opened at $199.01 on Tuesday. The firm’s fifty day simple moving average is $201.37 and its 200-day simple moving average is $179.72. Inspire Medical Systems has a 12 month low of $123.00 and a 12 month high of $257.40. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of 185.99 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.54. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The company had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. During the same period in the previous year, the business posted ($0.29) earnings per share. Inspire Medical Systems’s quarterly revenue was up 32.6% on a year-over-year basis. Analysts anticipate that Inspire Medical Systems will post 0.75 earnings per share for the current year.

Insider Buying and Selling

In other Inspire Medical Systems 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 directly owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Randy Ban sold 4,861 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the sale, the insider now owns 3,056 shares in the company, valued at $576,208.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction on Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the transaction, the director now directly owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,692 shares of company stock valued at $1,099,207. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Inspire Medical Systems

A number of large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its position in Inspire Medical Systems by 798.3% during the third 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 increased its stake in shares of Inspire Medical Systems by 32.3% during the 2nd 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 in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Inspire Medical Systems by 51.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock worth $98,754,000 after purchasing an additional 156,893 shares during the last quarter. AQR Capital Management LLC lifted its stake in Inspire Medical Systems by 152.7% in the 2nd 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 in the last quarter. Finally, Principal Financial Group Inc. grew its holdings 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 valued at $29,777,000 after buying an additional 137,483 shares during the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

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.