Inspire Medical Systems (NYSE:INSP) Price Target Raised to $255.00 at Piper Sandler

Inspire Medical Systems (NYSE:INSP) had its target price upped by stock analysts at Piper Sandler from $250.00 to $255.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 34.21% from the stock’s current price.

A number of other research firms have also recently weighed in on INSP. Royal Bank of Canada initiated 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. Mizuho reaffirmed a “buy” rating and set a $250.00 price target on shares of Inspire Medical Systems in a report on Wednesday, March 27th. Bank of America lowered shares of Inspire Medical Systems from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $265.00 to $225.00 in a report on Wednesday. Morgan Stanley assumed coverage on Inspire Medical Systems in a research note on Tuesday, March 19th. They set an “overweight” rating and a $250.00 target price for the company. Finally, Jefferies Financial Group started coverage on Inspire Medical Systems in a research report on Friday, January 19th. They set a “buy” rating and a $245.00 target price on the stock. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Inspire Medical Systems has a consensus rating of “Moderate Buy” and an average price target of $256.53.

Inspire Medical Systems Stock Down 22.6 %

Shares of INSP stock opened at $190.00 on Wednesday. Inspire Medical Systems has a fifty-two week low of $123.27 and a fifty-two week high of $330.00. The firm’s 50 day moving average price is $215.94 and its two-hundred day moving average price is $190.56. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of -332.25 and a beta of 1.35.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.29. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The firm had revenue of $164.01 million during the quarter, compared to analysts’ expectations of $161.41 million. During the same period in the prior year, the company earned ($0.53) EPS. The firm’s revenue was up 28.2% on a year-over-year basis. On average, equities analysts forecast that Inspire Medical Systems will post -0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Randy Ban sold 3,060 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total transaction of $556,950.60. Following the sale, the insider now owns 3,029 shares in the company, valued at $551,308.29. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Inspire Medical Systems news, CEO Timothy P. Herbert sold 40,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $205.09, for a total value of $8,203,600.00. Following the completion of the transaction, the chief executive officer now owns 63,658 shares in the company, valued at approximately $13,055,619.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Randy Ban sold 3,060 shares of Inspire Medical Systems stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total value of $556,950.60. Following the sale, the insider now directly owns 3,029 shares in the company, valued at approximately $551,308.29. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,371 shares of company stock valued at $15,664,278. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Inspire Medical Systems

Several hedge funds have recently added to or reduced their stakes in INSP. Russell Investments Group Ltd. raised its stake in shares of Inspire Medical Systems by 98.9% during the first quarter. Russell Investments Group Ltd. now owns 31,933 shares of the company’s stock valued at $6,859,000 after purchasing an additional 15,877 shares in the last quarter. Sei Investments Co. increased its stake in Inspire Medical Systems by 9.7% during the 1st quarter. Sei Investments Co. now owns 93,666 shares of the company’s stock valued at $20,118,000 after buying an additional 8,301 shares during the period. Swiss National Bank lifted its stake in shares of Inspire Medical Systems by 0.9% in the 1st quarter. Swiss National Bank now owns 58,300 shares of the company’s stock worth $12,522,000 after acquiring an additional 500 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in shares of Inspire Medical Systems by 61.1% in the first quarter. Illinois Municipal Retirement Fund now owns 3,639 shares of the company’s stock valued at $782,000 after acquiring an additional 1,380 shares in the last quarter. Finally, Lisanti Capital Growth LLC increased its stake in shares of Inspire Medical Systems by 35.3% during the first quarter. Lisanti Capital Growth LLC now owns 15,530 shares of the company’s stock valued at $3,336,000 after acquiring an additional 4,050 shares during the period. 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.