Inspire Medical Systems’ (INSP) “Overweight” Rating Reaffirmed at KeyCorp

Inspire Medical Systems (NYSE:INSP)‘s stock had its “overweight” rating reaffirmed by investment analysts at KeyCorp in a note issued to investors on Friday,Benzinga reports. They currently have a $234.00 target price on the stock, down from their prior target price of $236.00. KeyCorp’s target price would suggest a potential upside of 25.80% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Piper Sandler restated an “overweight” rating and issued a $260.00 price objective (up from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Robert W. Baird raised their price target on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Truist Financial reiterated a “buy” rating and set a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Stifel Nicolaus dropped their price target on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, Bank of America upgraded shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $220.00 to $255.00 in a report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $231.45.

Inspire Medical Systems Price Performance

Shares of NYSE INSP traded down $1.58 during trading on Friday, reaching $186.02. 149,059 shares of the stock traded hands, compared to its average volume of 688,306. The stock has a market capitalization of $5.57 billion, a P/E ratio of 173.84 and a beta of 1.32. The company has a 50-day moving average of $189.00 and a 200-day moving average of $186.06. Inspire Medical Systems has a 52-week low of $123.00 and a 52-week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $203.20 million during the quarter, compared to analyst estimates of $197.59 million. During the same period last year, the company earned ($0.29) earnings per share. The business’s revenue for the quarter was up 32.6% on a year-over-year basis. Analysts expect that Inspire Medical Systems will post 1.35 earnings per share for the current fiscal year.

Institutional Trading of Inspire Medical Systems

A number of institutional investors have recently made changes to their positions in the business. True Wealth Design LLC purchased a new stake in shares of Inspire Medical Systems during the 3rd quarter worth about $30,000. Farther Finance Advisors LLC grew its holdings in shares of Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after purchasing an additional 139 shares during the period. GAMMA Investing LLC raised its position in shares of Inspire Medical Systems by 559.3% during the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after buying an additional 151 shares during the period. Quarry LP lifted its position in Inspire Medical Systems by 105.4% in the second quarter. Quarry LP now owns 343 shares of the company’s stock valued at $46,000 after buying an additional 176 shares during the last quarter. Finally, Signaturefd LLC raised its position in Inspire Medical Systems by 45.9% in the third quarter. Signaturefd LLC now owns 270 shares of the company’s stock valued at $57,000 after purchasing an additional 85 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.

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.