Morgan Stanley Issues Pessimistic Forecast for Inspire Medical Systems (NYSE:INSP) Stock Price

Inspire Medical Systems (NYSE:INSP) had its target price reduced by Morgan Stanley from $220.00 to $200.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 31.25% from the stock’s current price.

Several other research firms have also commented on INSP. JPMorgan Chase & Co. dropped their price objective on shares of Inspire Medical Systems from $235.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday. Robert W. Baird increased their target price on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the stock an “outperform” rating in a report on Tuesday. KeyCorp reduced their price objective on shares of Inspire Medical Systems from $234.00 to $216.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Stifel Nicolaus decreased their price target on shares of Inspire Medical Systems from $190.00 to $175.00 and set a “hold” rating for the company in a research report on Monday, April 21st. Finally, Royal Bank of Canada cut their price target on shares of Inspire Medical Systems from $260.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.91.

Inspire Medical Systems Trading Down 4.0 %

Inspire Medical Systems stock traded down $6.36 during mid-day trading on Tuesday, hitting $152.39. The company had a trading volume of 338,693 shares, compared to its average volume of 584,302. The company has a market capitalization of $4.53 billion, a PE ratio of 88.72, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. The stock’s 50 day moving average price is $159.91 and its two-hundred day moving average price is $179.25. Inspire Medical Systems has a 12 month low of $123.00 and a 12 month high of $256.11.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, May 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.33. The firm had revenue of $201.32 million during the quarter, compared to analysts’ expectations of $194.89 million. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.34) earnings per share. Equities research analysts anticipate that Inspire Medical Systems will post 2.16 EPS for the current year.

Insider Transactions at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 360 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $160.00, for a total transaction of $57,600.00. Following the sale, the director now owns 24,046 shares of the company’s stock, valued at $3,847,360. The trade was a 1.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO John Rondoni sold 583 shares of Inspire Medical Systems 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 transaction, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at $1,777,187.76. This trade represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,527 shares of company stock worth $4,851,660 over the last 90 days. 4.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC acquired a new stake in Inspire Medical Systems during the third quarter valued at approximately $320,000. Principal Financial Group Inc. boosted its position in Inspire Medical Systems by 3,812.6% during the 3rd quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock valued at $29,777,000 after purchasing an additional 137,483 shares during the period. Diversified Trust Co grew its stake in Inspire Medical Systems by 3.8% during the 4th quarter. Diversified Trust Co now owns 4,686 shares of the company’s stock worth $869,000 after buying an additional 173 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Inspire Medical Systems by 1.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,879 shares of the company’s stock worth $1,461,000 after buying an additional 79 shares during the period. Finally, Pallas Capital Advisors LLC lifted its stake in Inspire Medical Systems by 6.1% in the fourth quarter. Pallas Capital Advisors LLC now owns 4,037 shares of the company’s stock valued at $748,000 after buying an additional 233 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

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.