Inspire Medical Systems (NYSE:INSP) Coverage Initiated at Royal Bank of Canada

Equities research analysts at Royal Bank of Canada assumed coverage on shares of Inspire Medical Systems (NYSE:INSP) in a report released on Friday, StockNewsAPI reports. The firm set an “outperform” rating and a $285.00 price target on the stock. Royal Bank of Canada’s target price indicates a potential upside of 18.20% from the company’s current price.

INSP has been the topic of a number of other research reports. KeyCorp started coverage on shares of Inspire Medical Systems in a report on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 price target on the stock. Mizuho reissued a “buy” rating and issued a $250.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. Morgan Stanley started coverage on shares of Inspire Medical Systems in a research note on Tuesday, March 19th. They set an “overweight” rating and a $250.00 price target on the stock. Truist Financial reiterated a “buy” rating and issued a $280.00 price objective on shares of Inspire Medical Systems in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group initiated coverage on Inspire Medical Systems in a report on Friday, January 19th. They issued a “buy” rating and a $245.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $272.20.

Inspire Medical Systems Trading Down 1.0 %

INSP stock opened at $241.12 on Friday. The stock has a market cap of $7.31 billion, a P/E ratio of -325.84 and a beta of 1.37. The stock’s fifty day simple moving average is $202.84 and its two-hundred day simple moving average is $183.76. Inspire Medical Systems has a 1-year low of $123.27 and a 1-year high of $330.00.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Tuesday, February 6th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.53. The company had revenue of $192.51 million for the quarter, compared to analysts’ expectations of $186.75 million. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The business’s revenue for the quarter was up 39.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 EPS. As a group, analysts forecast that Inspire Medical Systems will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Inspire Medical Systems

In other news, CEO Timothy P. Herbert sold 40,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was 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 $13,055,619.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Timothy P. Herbert sold 40,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $205.09, for a total value of $8,203,600.00. Following the sale, the chief executive officer now directly owns 63,658 shares in the company, valued at $13,055,619.22. The transaction 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 firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $230.03, for a total value of $3,450,450.00. Following the transaction, the chief financial officer now 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 have sold a total of 76,371 shares of company stock valued at $15,664,278 over the last ninety days. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of Inspire Medical Systems

A number of large investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC lifted its holdings in shares of Inspire Medical Systems by 0.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 6,774 shares of the company’s stock valued at $1,585,000 after acquiring an additional 36 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in shares of Inspire Medical Systems by 2.3% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 1,734 shares of the company’s stock worth $437,000 after purchasing an additional 39 shares during the period. Mercer Global Advisors Inc. ADV increased its position in shares of Inspire Medical Systems by 3.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 1,122 shares of the company’s stock valued at $364,000 after purchasing an additional 42 shares during the last quarter. Y Intercept Hong Kong Ltd raised its holdings in Inspire Medical Systems by 3.7% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 1,200 shares of the company’s stock valued at $390,000 after buying an additional 43 shares during the period. Finally, Pathstone Family Office LLC lifted its position in Inspire Medical Systems by 2.7% in the third quarter. Pathstone Family Office LLC now owns 2,273 shares of the company’s stock worth $403,000 after buying an additional 59 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

About Inspire Medical Systems

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.