Inspire Medical Systems, Inc. (NYSE:INSP) Receives Average Rating of “Moderate Buy” from Brokerages

Inspire Medical Systems, Inc. (NYSE:INSP) has received an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $228.82.

INSP has been the topic of several research analyst reports. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $220.00 to $255.00 in a research report on Wednesday, November 20th. Wells Fargo & Company lowered their target price on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Robert W. Baird lowered their target price on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Piper Sandler lowered their target price on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Finally, Truist Financial decreased their price target on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th.

Insiders Place Their Bets

In other Inspire Medical Systems news, insider Randy Ban sold 25,584 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the sale, the insider now directly owns 7,259 shares in the company, valued at approximately $1,332,026.50. The trade was a 77.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO John Rondoni sold 583 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the sale, the chief technology officer now owns 10,424 shares in the company, valued at approximately $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,225 shares of company stock worth $4,806,530. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Inspire Medical Systems

Institutional investors have recently made changes to their positions in the stock. New York State Teachers Retirement System acquired a new position in Inspire Medical Systems in the third quarter valued at $1,708,000. Farther Finance Advisors LLC grew its position in Inspire Medical Systems by 1,158.3% during the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after acquiring an additional 139 shares during the period. QRG Capital Management Inc. purchased a new stake in shares of Inspire Medical Systems in the third quarter worth about $236,000. Amalgamated Bank boosted its position in shares of Inspire Medical Systems by 387.5% in the third quarter. Amalgamated Bank now owns 9,774 shares of the company’s stock worth $2,063,000 after buying an additional 7,769 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of 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 buying an additional 137,483 shares during the period. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Stock Performance

Shares of NYSE INSP opened at $180.50 on Wednesday. Inspire Medical Systems has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The firm has a market capitalization of $5.36 billion, a PE ratio of 104.33, a price-to-earnings-growth ratio of 2.86 and a beta of 1.32. The stock’s 50-day simple moving average is $187.66 and its 200-day simple moving average is $193.02.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. On average, sell-side analysts forecast that Inspire Medical Systems will post 2.16 earnings per share for the current fiscal year.

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.