Inspire Medical Systems (NYSE:INSP) Price Target Raised to $198.00 at Wells Fargo & Company

Inspire Medical Systems (NYSE:INSP) had its price objective raised by Wells Fargo & Company from $187.00 to $198.00 in a report released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities research analysts have also issued reports on the stock. Robert W. Baird increased their target price on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a research note on Tuesday. Leerink Partners raised their price objective on Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research note on Wednesday, August 7th. Truist Financial reissued a “buy” rating and issued a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Finally, KeyCorp reduced their price objective on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Inspire Medical Systems currently has an average rating of “Moderate Buy” and an average price target of $227.75.

Inspire Medical Systems Trading Down 1.9 %

Shares of INSP stock opened at $196.64 on Tuesday. Inspire Medical Systems has a twelve month low of $123.00 and a twelve month high of $257.40. The stock has a market cap of $5.89 billion, a P/E ratio of 183.78 and a beta of 1.36. The stock has a 50 day moving average of $202.62 and a 200 day moving average of $179.89.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, beating 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 5.30%. The firm had revenue of $203.20 million during the quarter, compared to analyst estimates of $197.59 million. During the same period in the previous year, the firm earned ($0.29) EPS. The business’s quarterly revenue was up 32.6% on a year-over-year basis. On average, research analysts predict that Inspire Medical Systems will post 1.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were 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 $5,090,800. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Randy Ban sold 4,861 shares of the company’s 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 sale, the insider now owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,692 shares of company stock worth $1,099,207. 4.10% of the stock is owned by insiders.

Institutional Trading of Inspire Medical Systems

Several hedge funds have recently made changes to their positions in INSP. Farther Finance Advisors LLC increased its position in shares of Inspire Medical Systems by 1,158.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock worth $32,000 after purchasing an additional 139 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Inspire Medical Systems by 559.3% during the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after acquiring an additional 151 shares during the last quarter. SouthState Corp acquired a new stake in shares of Inspire Medical Systems during the second quarter valued at about $27,000. Signaturefd LLC raised its stake in shares of Inspire Medical Systems by 45.9% in the 3rd quarter. Signaturefd LLC now owns 270 shares of the company’s stock valued at $57,000 after acquiring an additional 85 shares during the period. Finally, Quarry LP lifted its holdings in shares of Inspire Medical Systems by 105.4% in the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after acquiring an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

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.