Truist Financial Has Lowered Expectations for Inspire Medical Systems (NYSE:INSP) Stock Price

Inspire Medical Systems (NYSE:INSP) had its target price cut by equities researchers at Truist Financial from $250.00 to $235.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 32.42% from the stock’s current price.

Several other research firms also recently weighed in on INSP. 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 Tuesday. Piper Sandler lowered their price target on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a research note on Monday. KeyCorp reissued an “overweight” rating and issued a $234.00 price target (down from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Robert W. Baird lowered their price objective on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $220.00 to $255.00 in a research note on Wednesday, November 20th. Three equities 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $228.82.

Inspire Medical Systems Stock Down 1.9 %

NYSE:INSP traded down $3.53 during midday trading on Tuesday, hitting $177.46. The company had a trading volume of 870,713 shares, compared to its average volume of 600,021. Inspire Medical Systems has a 52-week low of $123.00 and a 52-week high of $257.40. The stock’s fifty day moving average price is $189.57 and its 200-day moving average price is $190.98. The company has a market capitalization of $5.32 billion, a PE ratio of 165.84 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, topping 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.

Hedge Funds Weigh In On Inspire Medical Systems

Institutional investors have recently bought and sold shares of the stock. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Inspire Medical Systems in the third quarter worth about $1,929,000. Thrivent Financial for Lutherans raised its stake in Inspire Medical Systems by 39.7% in the third quarter. Thrivent Financial for Lutherans now owns 110,580 shares of the company’s stock worth $23,337,000 after buying an additional 31,444 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Inspire Medical Systems by 798.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock worth $56,530,000 after buying an additional 238,034 shares in the last quarter. Merit Financial Group LLC bought a new position in Inspire Medical Systems in the fourth quarter worth about $313,000. Finally, Principal Financial Group Inc. grew its holdings in Inspire Medical Systems by 3,812.6% in the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock worth $29,777,000 after purchasing an additional 137,483 shares during the period. 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.