Analysts Set Inspire Medical Systems, Inc. (NYSE:INSP) Target Price at $251.20

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have been given an average recommendation of “Moderate Buy” by the sixteen analysts that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $251.20.

Several equities analysts have commented on INSP shares. Piper Sandler upped their price target on Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Truist Financial reaffirmed a “buy” rating and issued a $280.00 price target on shares of Inspire Medical Systems in a report on Wednesday, March 20th. Morgan Stanley started coverage on Inspire Medical Systems in a report on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 price target for the company. Stifel Nicolaus cut their price target on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating for the company in a report on Monday, June 24th. Finally, Royal Bank of Canada began coverage on Inspire Medical Systems in a report on Friday, April 19th. They issued an “outperform” rating and a $285.00 price target for the company.

Insider Buying and Selling

In related news, CFO Richard Buchholz sold 15,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the sale, the chief financial officer now directly owns 28,271 shares in the company, valued at approximately $6,503,178.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of INSP. American Trust boosted its position in shares of Inspire Medical Systems by 14.2% in the 1st quarter. American Trust now owns 1,905 shares of the company’s stock worth $409,000 after purchasing an additional 237 shares during the last quarter. Kopp Family Office LLC boosted its position in shares of Inspire Medical Systems by 23.6% in the 1st quarter. Kopp Family Office LLC now owns 41,054 shares of the company’s stock worth $8,818,000 after purchasing an additional 7,829 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of Inspire Medical Systems by 27.1% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 40,501 shares of the company’s stock worth $8,699,000 after purchasing an additional 8,625 shares during the last quarter. Comerica Bank boosted its position in shares of Inspire Medical Systems by 12.0% in the 1st quarter. Comerica Bank now owns 79,030 shares of the company’s stock worth $16,975,000 after purchasing an additional 8,454 shares during the last quarter. Finally, Tidal Investments LLC bought a new position in shares of Inspire Medical Systems in the 1st quarter worth $1,151,000. 94.91% of the stock is currently owned by institutional investors.

Inspire Medical Systems Stock Down 3.2 %

Shares of NYSE:INSP opened at $134.27 on Friday. The business has a 50 day moving average price of $173.32 and a 200 day moving average price of $191.79. Inspire Medical Systems has a twelve month low of $123.27 and a twelve month high of $330.00. The company has a market cap of $3.99 billion, a price-to-earnings ratio of -244.13 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Tuesday, May 7th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.29. Inspire Medical Systems had a negative return on equity of 2.82% and a negative net margin of 2.38%. The firm had revenue of $164.01 million during the quarter, compared to the consensus estimate of $161.41 million. During the same quarter in the prior year, the company earned ($0.53) EPS. The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. Analysts anticipate that Inspire Medical Systems will post 0.16 EPS for the current year.

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.