Wells Fargo & Company Forecasts Strong Price Appreciation for Inspire Medical Systems (NYSE:INSP) Stock

Inspire Medical Systems (NYSE:INSP) had its price objective increased by Wells Fargo & Company from $187.00 to $198.00 in a research note published on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other analysts have also recently issued reports about the company. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research report on Wednesday, August 7th. Robert W. Baird boosted their price target on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a report on Tuesday. Morgan Stanley decreased their price objective on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. KeyCorp cut their target price on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Finally, Truist Financial restated a “buy” rating and set a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Inspire Medical Systems has a consensus rating of “Moderate Buy” and a consensus target price of $227.75.

Inspire Medical Systems Stock Performance

Shares of NYSE INSP opened at $199.01 on Tuesday. Inspire Medical Systems has a 1 year low of $123.00 and a 1 year high of $257.40. The company’s fifty day moving average price is $201.37 and its 200 day moving average price is $179.72. The company has a market capitalization of $5.93 billion, a PE ratio of 185.99 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The business had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. During the same period in the prior year, the company posted ($0.29) EPS. The company’s revenue for the quarter was up 32.6% on a year-over-year basis. On average, equities analysts expect that Inspire Medical Systems will post 0.75 EPS for the current year.

Insider Buying and Selling at Inspire Medical Systems

In other news, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the transaction, the insider now directly owns 3,056 shares in the company, valued at $576,208.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the transaction, the insider now directly owns 3,056 shares in the company, valued at approximately $576,208.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,692 shares of company stock worth $1,099,207. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Inspire Medical Systems

Several hedge funds and other institutional investors have recently bought and sold shares of INSP. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Inspire Medical Systems in the 1st quarter valued at approximately $3,113,000. BNP Paribas Financial Markets lifted its holdings in Inspire Medical Systems by 89.4% in the first quarter. BNP Paribas Financial Markets now owns 2,297 shares of the company’s stock valued at $493,000 after acquiring an additional 1,084 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Inspire Medical Systems by 32.8% in the first quarter. Janney Montgomery Scott LLC now owns 1,532 shares of the company’s stock worth $329,000 after acquiring an additional 378 shares during the period. AIA Group Ltd purchased a new position in Inspire Medical Systems in the first quarter worth approximately $2,183,000. Finally, SG Americas Securities LLC increased its stake in Inspire Medical Systems by 9.5% during the first quarter. SG Americas Securities LLC now owns 2,907 shares of the company’s stock worth $624,000 after acquiring an additional 251 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

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.