Inspire Medical Systems, Inc. (NYSE:INSP) Receives $285.29 Consensus PT from Brokerages

Shares of Inspire Medical Systems, Inc. (NYSE:INSP – Get Rating) have received an average rating of “Moderate Buy” from the nine analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $285.29.

A number of research firms recently weighed in on INSP. The Goldman Sachs Group raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $245.00 to $308.00 in a research note on Tuesday, December 13th. Lake Street Capital decreased their price objective on Inspire Medical Systems from $320.00 to $250.00 in a report on Wednesday, November 2nd. KeyCorp boosted their price objective on Inspire Medical Systems from $287.00 to $303.00 and gave the stock an “overweight” rating in a report on Friday, January 13th. TheStreet raised Inspire Medical Systems from a “d+” rating to a “c” rating in a report on Friday, December 16th. Finally, Truist Financial boosted their price objective on Inspire Medical Systems from $270.00 to $308.00 and gave the stock a “buy” rating in a report on Tuesday, December 20th.

Inspire Medical Systems Stock Performance

INSP stock opened at $249.33 on Friday. The stock’s 50 day simple moving average is $243.21 and its 200 day simple moving average is $212.78. Inspire Medical Systems has a fifty-two week low of $142.74 and a fifty-two week high of $272.04. The company has a market cap of $7.20 billion, a P/E ratio of -136.25 and a beta of 1.51.

Inspire Medical Systems (NYSE:INSP – Get Rating) last posted its quarterly earnings results on Tuesday, November 1st. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.15. Inspire Medical Systems had a negative return on equity of 17.52% and a negative net margin of 14.47%. The business had revenue of $109.19 million for the quarter, compared to the consensus estimate of $95.62 million. Equities analysts predict that Inspire Medical Systems will post -2.31 earnings per share for the current year.

Insider Activity

In other news, CTO John Rondoni sold 1,170 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $256.00, for a total value of $299,520.00. Following the completion of the transaction, the chief technology officer now directly owns 15,091 shares of the company’s stock, valued at $3,863,296. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Jerry C. Griffin sold 9,217 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $221.42, for a total value of $2,040,828.14. Following the transaction, the director now owns 2,060 shares in the company, valued at $456,125.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO John Rondoni sold 1,170 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $256.00, for a total value of $299,520.00. Following the completion of the transaction, the chief technology officer now owns 15,091 shares in the company, valued at approximately $3,863,296. The disclosure for this sale can be found here. Insiders sold a total of 58,776 shares of company stock valued at $14,328,270 over the last three months. Corporate insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Inspire Medical Systems

Institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its position in shares of Inspire Medical Systems by 5.6% during the third quarter. Nisa Investment Advisors LLC now owns 911 shares of the company’s stock worth $177,000 after acquiring an additional 48 shares in the last quarter. Tradition Wealth Management LLC lifted its position in shares of Inspire Medical Systems by 8.4% during the second quarter. Tradition Wealth Management LLC now owns 648 shares of the company’s stock worth $118,000 after acquiring an additional 50 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Inspire Medical Systems by 1.8% during the third quarter. ProShare Advisors LLC now owns 3,112 shares of the company’s stock worth $551,000 after acquiring an additional 55 shares in the last quarter. US Bancorp DE lifted its position in shares of Inspire Medical Systems by 2.7% during the third quarter. US Bancorp DE now owns 2,164 shares of the company’s stock worth $384,000 after acquiring an additional 56 shares in the last quarter. Finally, Pathstone Family Office LLC lifted its position in shares of Inspire Medical Systems by 2.7% during the third quarter. Pathstone Family Office LLC now owns 2,273 shares of the company’s stock worth $403,000 after acquiring an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Inspire Medical Systems Company Profile

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Inspire Medical Systems, Inc engages in the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea. It offers inspire therapy, which consists of a remote control and implantable components that includes pressure sensing lead, a neurostimulator, and a stimulation lead.