Inspire Medical Systems’ (INSP) Overweight Rating Reiterated at KeyCorp

KeyCorp reiterated their overweight rating on shares of Inspire Medical Systems (NYSE:INSP) in a research note published on Friday morning,Benzinga reports. The firm currently has a $234.00 target price on the stock, down from their previous target price of $236.00.

INSP has been the subject of a number of other research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $260.00 target price (up previously from $255.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Wells Fargo & Company raised 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. Truist Financial reissued a “buy” rating and set a $240.00 target price (up from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their price target for the company from $220.00 to $255.00 in a research report on Wednesday, November 20th. Finally, Robert W. Baird raised their price objective on Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.45.

Inspire Medical Systems Price Performance

INSP opened at $188.77 on Friday. The company has a market capitalization of $5.66 billion, a PE ratio of 176.42 and a beta of 1.32. The business has a fifty day simple moving average of $189.32 and a 200 day simple moving average of $186.81. 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 announced its earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.54. The firm had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The business’s revenue was up 32.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.29) EPS. Equities analysts anticipate that Inspire Medical Systems will post 1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in Inspire Medical Systems by 79.7% during the second quarter. Dimensional Fund Advisors LP now owns 109,560 shares of the company’s stock valued at $14,663,000 after purchasing an additional 48,590 shares in the last quarter. Amalgamated Bank lifted its stake in Inspire Medical Systems by 4.1% in the second quarter. Amalgamated Bank now owns 2,005 shares of the company’s stock worth $268,000 after purchasing an additional 79 shares during the last quarter. Xponance Inc. boosted its position in Inspire Medical Systems by 5.6% during the second quarter. Xponance Inc. now owns 3,924 shares of the company’s stock valued at $525,000 after buying an additional 209 shares during the period. Marshall Wace LLP bought a new position in shares of Inspire Medical Systems during the second quarter valued at about $5,417,000. Finally, AQR Capital Management LLC raised its position in Inspire Medical Systems by 152.7% during the 2nd quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock valued at $31,028,000 after purchasing an additional 140,090 shares during the last quarter. Hedge funds and other institutional investors 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.