Robert W. Baird Boosts Inspire Medical Systems (NYSE:INSP) Price Target to $180.00

Inspire Medical Systems (NYSE:INSP) had its target price boosted by equities researchers at Robert W. Baird from $125.00 to $180.00 in a research note issued to investors on Thursday, Marketbeat reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 31.63% from the stock’s current price.

INSP has been the subject of several other reports. UBS Group set a $89.00 price objective on shares of Inspire Medical Systems and gave the company a “neutral” rating in a research note on Monday, September 22nd. Leerink Partners lowered their price target on shares of Inspire Medical Systems from $116.00 to $97.00 and set a “market perform” rating on the stock in a report on Friday, August 15th. Stifel Nicolaus set a $110.00 price target on Inspire Medical Systems and gave the stock a “buy” rating in a research report on Monday, November 24th. Royal Bank Of Canada decreased their price objective on Inspire Medical Systems from $150.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, November 4th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Inspire Medical Systems in a report on Tuesday, November 4th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $128.13.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock opened at $136.75 on Thursday. The business’s 50-day simple moving average is $90.06 and its two-hundred day simple moving average is $105.01. The company has a market cap of $3.97 billion, a PE ratio of 93.02, a PEG ratio of 16.14 and a beta of 0.70. Inspire Medical Systems has a fifty-two week low of $70.77 and a fifty-two week high of $216.01.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Monday, November 3rd. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.53. The firm had revenue of $224.50 million during the quarter, compared to the consensus estimate of $220.39 million. Inspire Medical Systems had a return on equity of 9.41% and a net margin of 5.05%.The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. As a group, analysts predict that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Inspire Medical Systems announced that its board has initiated a stock repurchase program on Monday, August 11th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 8.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 2,000 shares of the company’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $127.48, for a total value of $254,960.00. Following the completion of the transaction, the director owned 26,046 shares of the company’s stock, valued at approximately $3,320,344.08. This represents a 7.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Inspire Medical Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dragoneer Investment Group LLC grew its stake in Inspire Medical Systems by 81.4% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,354,411 shares of the company’s stock valued at $305,532,000 after acquiring an additional 1,056,808 shares during the period. Deerfield Management Company L.P. lifted its holdings in Inspire Medical Systems by 648.4% during the third quarter. Deerfield Management Company L.P. now owns 1,047,694 shares of the company’s stock valued at $77,739,000 after purchasing an additional 907,694 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Inspire Medical Systems by 214.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,112,925 shares of the company’s stock valued at $177,267,000 after purchasing an additional 759,090 shares during the period. Balyasny Asset Management L.P. increased its stake in shares of Inspire Medical Systems by 16,504.3% during the third quarter. Balyasny Asset Management L.P. now owns 614,359 shares of the company’s stock worth $45,585,000 after purchasing an additional 610,659 shares in the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of Inspire Medical Systems by 68.7% during the 3rd quarter. William Blair Investment Management LLC now owns 1,297,573 shares of the company’s stock worth $96,280,000 after purchasing an additional 528,404 shares during 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.