Stifel Nicolaus Lowers Inspire Medical Systems (NYSE:INSP) Price Target to $170.00

Inspire Medical Systems (NYSE:INSP) had its price target cut by research analysts at Stifel Nicolaus from $210.00 to $170.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 21.95% from the company’s previous close.

A number of other brokerages have also weighed in on INSP. Truist Financial reissued 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 initiated coverage on shares of Inspire Medical Systems in a report on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 price target for the company. Royal Bank of Canada initiated coverage on shares of Inspire Medical Systems in a report on Friday, April 19th. They issued an “outperform” rating and a $285.00 price target for the company. Piper Sandler raised their price target on shares of Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Finally, Mizuho reissued a “buy” rating and issued a $250.00 price target on shares of Inspire Medical Systems in a report on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $251.20.

Inspire Medical Systems Trading Up 3.0 %

NYSE:INSP opened at $139.40 on Monday. Inspire Medical Systems has a 1 year low of $123.27 and a 1 year high of $330.00. The firm has a 50 day moving average of $183.18 and a 200-day moving average of $193.37. The stock has a market capitalization of $4.14 billion, a P/E ratio of -253.45 and a beta of 1.33.

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

Insider Activity

In other news, CEO Timothy P. Herbert sold 40,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $13,055,619.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Timothy P. Herbert sold 40,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $13,055,619.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard Buchholz sold 15,000 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the completion of the transaction, the chief financial officer now directly owns 28,271 shares of the company’s stock, valued at approximately $6,503,178.13. The disclosure for this sale can be found here. Insiders sold 55,032 shares of company stock valued at $11,660,898 in the last quarter. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Inspire Medical Systems

Institutional investors have recently added to or reduced their stakes in the stock. McGlone Suttner Wealth Management Inc. bought a new stake in Inspire Medical Systems in the 4th quarter valued at $27,000. Headinvest LLC bought a new stake in Inspire Medical Systems during the 3rd quarter worth about $48,000. Principal Securities Inc. bought a new stake in Inspire Medical Systems during the 4th quarter worth about $54,000. International Assets Investment Management LLC bought a new stake in Inspire Medical Systems during the 4th quarter worth about $166,000. Finally, RiverPark Advisors LLC lifted its position in Inspire Medical Systems by 360.1% during the 1st quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock worth $166,000 after buying an additional 605 shares in the last quarter. 94.91% of the stock is owned by institutional investors.

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.