Inspire Medical Systems (NYSE:INSP) Price Target Cut to $64.00 by Analysts at Truist Financial

Inspire Medical Systems (NYSE:INSP) had its target price lowered by equities research analysts at Truist Financial from $70.00 to $64.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 10.08% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Wolfe Research lowered shares of Inspire Medical Systems from an “outperform” rating to a “peer perform” rating in a research report on Friday, February 13th. Stifel Nicolaus decreased their target price on shares of Inspire Medical Systems from $85.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Oppenheimer lowered shares of Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 22nd. Royal Bank Of Canada restated a “sector perform” rating and set a $56.00 target price on shares of Inspire Medical Systems in a research report on Tuesday. Finally, Jefferies Financial Group decreased their target price on shares of Inspire Medical Systems from $81.00 to $66.00 and set a “hold” rating on the stock in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $101.41.

Inspire Medical Systems Stock Performance

NYSE INSP traded up $1.31 during mid-day trading on Wednesday, reaching $58.14. 85,578 shares of the stock were exchanged, compared to its average volume of 1,225,104. Inspire Medical Systems has a 1-year low of $48.30 and a 1-year high of $163.35. The business’s fifty day simple moving average is $58.70 and its 200 day simple moving average is $81.41. The stock has a market capitalization of $1.67 billion, a PE ratio of 11.74, a PEG ratio of 2.83 and a beta of 0.86.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Wednesday, February 11th. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.96. Inspire Medical Systems had a net margin of 15.95% and a return on equity of 10.96%. The firm had revenue of $269.08 million for the quarter, compared to analyst estimates of $264.02 million. During the same quarter last year, the business earned $1.15 earnings per share. Inspire Medical Systems’s revenue was up 12.2% compared to the same quarter last year. On average, analysts anticipate that Inspire Medical Systems will post 2.16 EPS for the current year.

Hedge Funds Weigh In On Inspire Medical Systems

A number of hedge funds have recently made changes to their positions in the stock. Xponance Inc. boosted its holdings in shares of Inspire Medical Systems by 2.9% in the 3rd quarter. Xponance Inc. now owns 4,177 shares of the company’s stock valued at $310,000 after purchasing an additional 116 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Inspire Medical Systems by 38.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock valued at $60,000 after acquiring an additional 130 shares during the period. State of Wyoming raised its stake in shares of Inspire Medical Systems by 31.5% in the 4th quarter. State of Wyoming now owns 731 shares of the company’s stock valued at $67,000 after acquiring an additional 175 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Inspire Medical Systems by 84.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 449 shares of the company’s stock valued at $42,000 after acquiring an additional 205 shares during the period. Finally, Blair William & Co. IL raised its stake in shares of Inspire Medical Systems by 5.1% in the 3rd quarter. Blair William & Co. IL now owns 4,865 shares of the company’s stock valued at $361,000 after acquiring an additional 234 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.

About Inspire Medical Systems

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.