Inspire Medical Systems (NYSE:INSP) Given New $252.00 Price Target at Robert W. Baird

Inspire Medical Systems (NYSE:INSP) had its price target upped by Robert W. Baird from $240.00 to $252.00 in a research note published on Tuesday, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently commented on INSP. Leerink Partners boosted their target price on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 10th. Truist Financial restated a “buy” rating and issued a $240.00 price objective (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. KeyCorp lowered their target price on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research note on Wednesday, August 7th. Finally, Morgan Stanley lowered their price objective on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $227.75.

Inspire Medical Systems Stock Up 3.3 %

Shares of INSP opened at $199.01 on Tuesday. Inspire Medical Systems has a twelve month low of $123.00 and a twelve month high of $257.40. The stock has a market cap of $5.93 billion, a PE ratio of 185.99 and a beta of 1.36. The business’s 50-day moving average price is $201.37 and its 200-day moving average price is $179.72.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.54. The business had revenue of $203.20 million for the quarter, compared to analysts’ expectations of $197.59 million. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The business’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.29) EPS. Analysts expect that Inspire Medical Systems will post 0.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the sale, the insider now directly owns 3,056 shares in the company, valued at $576,208.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the transaction, the director now directly owns 23,140 shares of the company’s stock, valued at $5,090,800. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Randy Ban sold 4,861 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the sale, the insider now directly owns 3,056 shares of the company’s stock, valued at $576,208.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,692 shares of company stock worth $1,099,207 in the last 90 days. 4.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Inspire Medical Systems

Several hedge funds and other institutional investors have recently modified their holdings of INSP. Bank of New York Mellon Corp grew its stake in shares of Inspire Medical Systems by 32.3% in the second quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock worth $105,433,000 after purchasing an additional 192,238 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in Inspire Medical Systems by 1.8% in the 2nd quarter. William Blair Investment Management LLC now owns 770,413 shares of the company’s stock worth $103,104,000 after buying an additional 13,602 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Inspire Medical Systems by 51.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock worth $98,754,000 after buying an additional 156,893 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Inspire Medical Systems by 798.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock valued at $56,530,000 after buying an additional 238,034 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Inspire Medical Systems by 152.7% during the second quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock valued at $31,028,000 after acquiring an additional 140,090 shares in the last quarter. 94.91% of the stock is owned by institutional investors.

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.