Piper Sandler Cuts Inspire Medical Systems (NYSE:INSP) Price Target to $233.00

Inspire Medical Systems (NYSE:INSP) had its price objective reduced by Piper Sandler from $260.00 to $233.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

INSP has been the subject of several other reports. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $220.00 to $255.00 in a report on Wednesday, November 20th. Wells Fargo & Company boosted their price objective on Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Robert W. Baird boosted their price objective on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. KeyCorp reissued an “overweight” rating and issued a $234.00 price objective (down from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $228.82.

Inspire Medical Systems Stock Performance

Shares of NYSE INSP opened at $187.17 on Monday. Inspire Medical Systems has a 1 year low of $123.00 and a 1 year high of $257.40. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 174.93 and a beta of 1.32. The stock’s 50-day simple moving average is $189.39 and its 200-day simple moving average is $191.39.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. As a group, research analysts predict that Inspire Medical Systems will post 1.33 EPS for the current year.

Hedge Funds Weigh In On Inspire Medical Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the business. ExodusPoint Capital Management LP boosted its position in shares of Inspire Medical Systems by 27.2% during the fourth quarter. ExodusPoint Capital Management LP now owns 152,660 shares of the company’s stock worth $28,300,000 after buying an additional 32,602 shares during the period. Huntington National Bank boosted its position in shares of Inspire Medical Systems by 228.3% during the fourth quarter. Huntington National Bank now owns 174 shares of the company’s stock worth $32,000 after buying an additional 121 shares during the period. Trexquant Investment LP acquired a new position in shares of Inspire Medical Systems during the fourth quarter worth approximately $6,279,000. Geode Capital Management LLC boosted its position in shares of Inspire Medical Systems by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 486,341 shares of the company’s stock worth $90,188,000 after buying an additional 2,687 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Inspire Medical Systems by 8.7% during the fourth quarter. Franklin Resources Inc. now owns 221,560 shares of the company’s stock worth $41,073,000 after buying an additional 17,666 shares during the period. 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.