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

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $228.82.

Several equities analysts recently issued reports on INSP shares. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, February 11th. Bank of America upgraded 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 report on Wednesday, November 20th. Piper Sandler dropped their price target on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Morgan Stanley dropped their price target on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Finally, Truist Financial dropped their price target on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th.

Insider Transactions at Inspire Medical Systems

In other news, CTO John Rondoni sold 583 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the sale, the chief technology officer now owns 10,424 shares of the company’s stock, valued at $1,777,187.76. The trade was a 5.30 % 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 25,584 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the completion of the sale, the insider now directly owns 7,259 shares in the company, valued at approximately $1,332,026.50. The trade was a 77.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,225 shares of company stock valued at $4,806,530 in the last quarter. 4.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Inspire Medical Systems

A number of institutional investors and hedge funds have recently bought and sold shares of INSP. Dragoneer Investment Group LLC purchased a new stake in Inspire Medical Systems in the 4th quarter valued at approximately $161,486,000. State Street Corp lifted its stake in Inspire Medical Systems by 78.0% in the 3rd quarter. State Street Corp now owns 1,049,784 shares of the company’s stock valued at $221,557,000 after buying an additional 459,990 shares in the last quarter. TimesSquare Capital Management LLC purchased a new stake in Inspire Medical Systems in the 4th quarter valued at approximately $80,419,000. Point72 Asset Management L.P. lifted its stake in Inspire Medical Systems by 954.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company’s stock valued at $67,402,000 after buying an additional 289,075 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in Inspire Medical Systems by 1,775.3% in the 4th quarter. Marshall Wace LLP now owns 277,131 shares of the company’s stock valued at $51,375,000 after buying an additional 262,353 shares in the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock opened at $183.34 on Wednesday. Inspire Medical Systems has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The company has a market capitalization of $5.44 billion, a P/E ratio of 105.98, a PEG ratio of 2.86 and a beta of 1.48. The stock has a 50-day simple moving average of $187.08 and a 200-day simple moving average of $192.79.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. As a group, analysts forecast that Inspire Medical Systems will post 2.16 earnings per share for the current year.

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.