Stifel Nicolaus Has Lowered Expectations for Inspire Medical Systems (NYSE:INSP) Stock Price

Inspire Medical Systems (NYSE:INSP) had its price target dropped by equities research analysts at Stifel Nicolaus from $95.00 to $85.00 in a research note issued on Thursday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 34.90% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Wolfe Research lowered Inspire Medical Systems from an “outperform” rating to a “peer perform” rating in a research report on Friday, February 13th. Robert W. Baird set a $74.00 target price on Inspire Medical Systems and gave the company a “neutral” rating in a research report on Thursday, February 12th. Evercore reissued an “outperform” rating on shares of Inspire Medical Systems in a research note on Friday, February 27th. Weiss Ratings restated a “sell (d)” rating on shares of Inspire Medical Systems in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. upped their price objective on Inspire Medical Systems from $82.00 to $118.00 and gave the company a “neutral” rating in a research note on Tuesday, December 16th. Five equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $104.24.

Inspire Medical Systems Price Performance

Shares of Inspire Medical Systems stock opened at $63.01 on Thursday. The company’s 50 day moving average price is $77.16 and its two-hundred day moving average price is $87.20. The firm has a market capitalization of $1.80 billion, a P/E ratio of 12.65, a P/E/G ratio of 3.06 and a beta of 0.74. Inspire Medical Systems has a fifty-two week low of $53.11 and a fifty-two week high of $189.49.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.96. Inspire Medical Systems had a net margin of 15.95% and a return on equity of 10.96%. The company had revenue of $269.08 million during the quarter, compared to the consensus estimate of $264.02 million. During the same period in the prior year, the business earned $1.15 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, analysts expect that Inspire Medical Systems will post 2.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd grew its position in shares of Inspire Medical Systems by 291.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,233 shares of the company’s stock valued at $390,000 after buying an additional 3,153 shares during the last quarter. Virtu Financial LLC raised its position in shares of Inspire Medical Systems by 40.2% during the fourth quarter. Virtu Financial LLC now owns 5,712 shares of the company’s stock worth $527,000 after acquiring an additional 1,639 shares during the last quarter. Invesco Ltd. raised its position in shares of Inspire Medical Systems by 181.7% during the fourth quarter. Invesco Ltd. now owns 261,374 shares of the company’s stock worth $24,107,000 after acquiring an additional 168,587 shares during the last quarter. Corient Private Wealth LLC acquired a new position in shares of Inspire Medical Systems in the fourth quarter worth approximately $337,000. Finally, Regal Partners Ltd lifted its stake in shares of Inspire Medical Systems by 107.7% in the fourth quarter. Regal Partners Ltd now owns 211,304 shares of the company’s stock worth $19,489,000 after acquiring an additional 109,590 shares during the period. 94.91% of the stock is owned by institutional investors.

About Inspire Medical Systems

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.