Analysts Set Inspire Medical Systems, Inc. (NYSE:INSP) PT at $108.94

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have been assigned an average rating of “Hold” from the nineteen ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $104.8235.

INSP has been the subject of several research analyst reports. Wells Fargo & Company set a $70.00 price objective on Inspire Medical Systems and gave the company an “equal weight” rating in a report on Thursday, February 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Inspire Medical Systems in a research note on Monday, December 29th. Robert W. Baird set a $74.00 price target on Inspire Medical Systems and gave the company a “neutral” rating in a research note on Thursday, February 12th. Piper Sandler cut their target price on shares of Inspire Medical Systems from $165.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Finally, Evercore restated an “outperform” rating and set a $125.00 price objective on shares of Inspire Medical Systems in a report on Thursday, January 22nd.

Insider Activity

In other news, Director Shawn Mccormick sold 2,000 shares of the business’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $127.48, for a total transaction of $254,960.00. Following the transaction, the director directly owned 26,046 shares in the company, valued at $3,320,344.08. The trade was a 7.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.10% of the stock is owned by company insiders.

Institutional Trading of Inspire Medical Systems

A number of institutional investors have recently added to or reduced their stakes in INSP. Wellington Management Group LLP bought a new stake in Inspire Medical Systems during the fourth quarter worth approximately $203,929,000. Dragoneer Investment Group LLC boosted its stake in shares of Inspire Medical Systems by 81.4% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,354,411 shares of the company’s stock valued at $305,532,000 after purchasing an additional 1,056,808 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of Inspire Medical Systems during the fourth quarter worth approximately $85,871,000. Deerfield Management Company L.P. raised its position in Inspire Medical Systems by 648.4% in the 3rd quarter. Deerfield Management Company L.P. now owns 1,047,694 shares of the company’s stock valued at $77,739,000 after purchasing an additional 907,694 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Inspire Medical Systems by 179.5% in the fourth quarter. Morgan Stanley now owns 1,259,762 shares of the company’s stock valued at $116,188,000 after buying an additional 809,121 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Stock Down 0.4%

Shares of NYSE:INSP opened at $59.52 on Wednesday. Inspire Medical Systems has a 52-week low of $53.11 and a 52-week high of $197.75. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 2.95 and a beta of 0.74. The company has a 50 day moving average of $85.07 and a two-hundred day moving average of $88.62.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.96. Inspire Medical Systems had a net margin of 15.95% and a return on equity of 10.96%. The company had revenue of $269.08 million during the quarter, compared to analysts’ expectations of $264.02 million. During the same period in the prior year, the company posted $1.15 EPS. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, equities analysts anticipate that Inspire Medical Systems will post 2.16 earnings per share for the current year.

About Inspire Medical Systems

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.