Inspire Medical Systems (NYSE:INSP) Given New $236.00 Price Target at Robert W. Baird

Inspire Medical Systems (NYSE:INSP) had its target price raised by Robert W. Baird from $230.00 to $236.00 in a research report released on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other research analysts have also issued research reports about the stock. Piper Sandler cut their target price on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Morgan Stanley dropped their target price on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Truist Financial dropped their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Stifel Nicolaus lowered their price target on Inspire Medical Systems from $190.00 to $175.00 and set a “hold” rating on the stock in a research note on Monday, April 21st. Finally, Royal Bank of Canada lowered their price objective on Inspire Medical Systems from $260.00 to $215.00 and set an “outperform” rating on the stock in a research 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $211.91.

Inspire Medical Systems Price Performance

NYSE INSP opened at $152.28 on Tuesday. The firm has a market cap of $4.49 billion, a P/E ratio of 88.02, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. The stock’s 50-day moving average is $158.28 and its two-hundred day moving average is $178.63. Inspire Medical Systems has a fifty-two week low of $123.00 and a fifty-two week high of $225.00.

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

Insider Buying and Selling

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of the stock in a transaction dated Friday, May 2nd. The shares were 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. This represents a 1.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO John Rondoni sold 583 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the transaction, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at approximately $1,777,187.76. This represents a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,527 shares of company stock worth $4,851,660 in the last quarter. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of INSP. Vanguard Group Inc. lifted its stake in shares of Inspire Medical Systems by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company’s stock valued at $606,259,000 after acquiring an additional 38,219 shares during the period. Dragoneer Investment Group LLC acquired a new stake in shares of Inspire Medical Systems during the 4th quarter worth approximately $161,486,000. Invesco Ltd. lifted its holdings in Inspire Medical Systems by 14.3% in the fourth quarter. Invesco Ltd. now owns 793,080 shares of the company’s stock valued at $147,021,000 after buying an additional 99,030 shares during the period. Janus Henderson Group PLC boosted its stake in Inspire Medical Systems by 12.9% in the fourth quarter. Janus Henderson Group PLC now owns 567,312 shares of the company’s stock valued at $105,173,000 after acquiring an additional 64,703 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Inspire Medical Systems by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 486,341 shares of the company’s stock valued at $90,188,000 after acquiring an additional 2,687 shares during the last quarter. Institutional investors and hedge funds 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.