Inspire Medical Systems (NYSE:INSP) Price Target Lowered to $233.00 at Piper Sandler

Inspire Medical Systems (NYSE:INSP) had its target price reduced by Piper Sandler from $260.00 to $233.00 in a research report released on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on INSP. Bank of America upgraded shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and raised their price target for the company from $220.00 to $255.00 in a report on Wednesday, November 20th. KeyCorp reaffirmed an “overweight” rating and issued a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Stifel Nicolaus decreased their price target on 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. Wells Fargo & Company raised their price objective on Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Finally, Robert W. Baird upped their target price 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 assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $229.00.

Inspire Medical Systems Price Performance

Shares of INSP stock opened at $180.96 on Monday. Inspire Medical Systems has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The stock’s 50-day moving average is $189.72 and its two-hundred day moving average is $190.66. The firm has a market cap of $5.42 billion, a P/E ratio of 169.12 and a beta of 1.32.

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

Hedge Funds Weigh In On Inspire Medical Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. grew its position in Inspire Medical Systems by 885.7% in the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares during the last quarter. True Wealth Design LLC bought a new stake in shares of Inspire Medical Systems in the third quarter valued at about $30,000. 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 worth $32,000 after buying an additional 139 shares in the last quarter. Harbour Investments Inc. increased its stake in Inspire Medical Systems by 101.0% during the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock valued at $37,000 after acquiring an additional 99 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Inspire Medical Systems by 559.3% in the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after acquiring an additional 151 shares in the last quarter. 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.