Piper Sandler Reaffirms “Overweight” Rating for Inspire Medical Systems (NYSE:INSP)

Piper Sandler reiterated their overweight rating on shares of Inspire Medical Systems (NYSE:INSP) in a report issued on Tuesday morning,Benzinga reports. They currently have a $260.00 price objective on the stock, up from their prior price objective of $255.00.

A number of other equities research analysts have also issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a report on Tuesday. Robert W. Baird raised their price objective on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research report on Tuesday. KeyCorp decreased their target price on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Truist Financial reaffirmed a “buy” rating and issued a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Finally, Morgan Stanley cut their target price on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, July 15th. 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, the stock has an average rating of “Moderate Buy” and an average price target of $227.75.

Inspire Medical Systems Stock Down 1.9 %

Inspire Medical Systems stock opened at $196.64 on Tuesday. The business has a 50-day simple moving average of $202.62 and a two-hundred day simple moving average of $179.89. The company has a market cap of $5.89 billion, a P/E ratio of 183.78 and a beta of 1.36. Inspire Medical Systems has a 52-week low of $123.00 and a 52-week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.54. The company had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The firm’s revenue was up 32.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.29) EPS. Research analysts anticipate that Inspire Medical Systems will post 1.33 EPS for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In other news, insider Randy Ban sold 4,861 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the sale, the insider now directly owns 3,056 shares in the company, valued at approximately $576,208.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Randy Ban sold 4,861 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the sale, the insider now directly owns 3,056 shares in the company, valued at approximately $576,208.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the director now owns 23,140 shares in the company, valued at $5,090,800. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,692 shares of company stock worth $1,099,207. 4.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its holdings in shares of Inspire Medical Systems by 98.9% in the 1st quarter. Russell Investments Group Ltd. now owns 31,933 shares of the company’s stock valued at $6,859,000 after acquiring an additional 15,877 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Inspire Medical Systems by 51.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock worth $98,754,000 after purchasing an additional 156,893 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Inspire Medical Systems in the 1st quarter worth $1,151,000. AQR Capital Management LLC boosted its position in shares of Inspire Medical Systems by 152.7% in the 2nd quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock worth $31,028,000 after purchasing an additional 140,090 shares in the last quarter. Finally, 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 in the last quarter. 94.91% of the stock is currently owned by hedge funds and other 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.