Royal Bank of Canada Reiterates “Outperform” Rating for Inspire Medical Systems (NYSE:INSP)

Inspire Medical Systems (NYSE:INSP)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a report released on Tuesday,Benzinga reports. They presently have a $260.00 price objective on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 45.59% from the stock’s current price.

INSP has been the topic of several other research reports. Bank of America raised 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 report on Wednesday, November 20th. Robert W. Baird reduced their target price on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a report on Tuesday. 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 note on Monday. Stifel Nicolaus reduced their price objective on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Finally, Morgan Stanley dropped their target price on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research report on Tuesday. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Inspire Medical Systems currently has an average rating of “Moderate Buy” and an average target price of $229.27.

Inspire Medical Systems Price Performance

Shares of Inspire Medical Systems stock traded down $2.41 during trading on Tuesday, hitting $178.58. The stock had a trading volume of 807,545 shares, compared to its average volume of 597,434. The business has a fifty day moving average of $189.57 and a two-hundred day moving average of $190.98. The firm has a market cap of $5.35 billion, a P/E ratio of 166.87 and a beta of 1.32. Inspire Medical Systems has a fifty-two week low of $123.00 and a fifty-two week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. As a group, research analysts forecast that Inspire Medical Systems will post 1.33 earnings per share for the current year.

Institutional Trading of Inspire Medical Systems

Several hedge funds and other institutional investors have recently modified their holdings of INSP. Mutual of America Capital Management LLC increased its position in Inspire Medical Systems by 1.2% in the 4th quarter. Mutual of America Capital Management LLC now owns 4,540 shares of the company’s stock worth $842,000 after purchasing an additional 55 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Inspire Medical Systems by 1.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,879 shares of the company’s stock worth $1,461,000 after buying an additional 79 shares during the last quarter. Xponance Inc. raised its position in Inspire Medical Systems by 2.2% during the fourth quarter. Xponance Inc. now owns 3,824 shares of the company’s stock valued at $709,000 after acquiring an additional 82 shares in the last quarter. Signaturefd LLC lifted its stake 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 acquiring an additional 85 shares during the last quarter. Finally, Harbour Investments Inc. grew its position in Inspire Medical Systems by 101.0% in the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock worth $37,000 after acquiring an additional 99 shares in the last quarter. 94.91% of the stock is currently owned by hedge funds and other 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.