Inspire Medical Systems, Inc. (NYSE:INSP) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have been assigned an average rating of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $232.55.

INSP has been the topic of several research analyst reports. Wells Fargo & Company boosted 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, November 5th. Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and boosted their price target for the company from $220.00 to $255.00 in a research note on Wednesday, November 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Robert W. Baird boosted their target price on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Truist Financial restated a “buy” rating and set a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock opened at $177.97 on Tuesday. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 166.33 and a beta of 1.32. The firm has a 50 day simple moving average of $189.18 and a 200-day simple moving average of $185.41. Inspire Medical Systems has a 1-year low of $123.00 and a 1-year high of $257.40.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of INSP. AQR Capital Management LLC boosted its stake 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 valued at $31,028,000 after buying an additional 140,090 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Inspire Medical Systems in the third quarter worth approximately $1,929,000. Thrivent Financial for Lutherans grew its holdings in Inspire Medical Systems by 39.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 110,580 shares of the company’s stock worth $23,337,000 after acquiring an additional 31,444 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Inspire Medical Systems in the 2nd quarter valued at approximately $1,084,000. Finally, Scientech Research LLC acquired a new stake in shares of Inspire Medical Systems in the 2nd quarter valued at $1,574,000. 94.91% of the stock is 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.