Inspire Medical Systems (NYSE:INSP) Price Target Raised to $118.00

Inspire Medical Systems (NYSE:INSP) had its price objective raised by JPMorgan Chase & Co. from $82.00 to $118.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts also recently issued reports on the stock. Robert W. Baird upped their price target on shares of Inspire Medical Systems from $125.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Oppenheimer upgraded shares of Inspire Medical Systems from a “market perform” rating to an “outperform” rating and set a $175.00 target price on the stock in a research report on Monday, December 8th. Royal Bank Of Canada decreased their price target on shares of Inspire Medical Systems from $150.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 4th. Stifel Nicolaus set a $110.00 price target on shares of Inspire Medical Systems and gave the company a “buy” rating in a report on Monday, November 24th. Finally, Piper Sandler upped their price objective on Inspire Medical Systems from $135.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, December 8th. Eleven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Inspire Medical Systems has an average rating of “Moderate Buy” and a consensus price target of $138.88.

Inspire Medical Systems Price Performance

INSP stock opened at $94.86 on Tuesday. The business has a fifty day moving average price of $99.16 and a 200 day moving average price of $103.98. Inspire Medical Systems has a fifty-two week low of $70.77 and a fifty-two week high of $216.01. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 64.53, a P/E/G ratio of 13.63 and a beta of 0.70.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.53. The company had revenue of $224.50 million for the quarter, compared to analyst estimates of $220.39 million. Inspire Medical Systems had a return on equity of 9.41% and a net margin of 5.05%.The business’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 earnings per share. On average, equities analysts expect that Inspire Medical Systems will post 2.16 earnings per share for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 2,000 shares of the stock in a transaction on Friday, November 28th. The stock was sold at an average price of $127.48, for a total value of $254,960.00. Following the transaction, the director owned 26,046 shares of the company’s stock, valued at $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 is available through this hyperlink. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Inspire Medical Systems

Hedge funds and other institutional investors have recently made changes to their positions in the company. Manning & Napier Advisors LLC bought a new stake in shares of Inspire Medical Systems in the 3rd quarter valued at $32,000. Quarry LP grew its stake in Inspire Medical Systems by 2,127.3% in the first quarter. Quarry LP now owns 245 shares of the company’s stock valued at $39,000 after acquiring an additional 234 shares during the period. Banque Transatlantique SA acquired a new position in Inspire Medical Systems in the first quarter valued at about $46,000. Larson Financial Group LLC increased its holdings in shares of Inspire Medical Systems by 21,266.7% in the third quarter. Larson Financial Group LLC now owns 641 shares of the company’s stock worth $48,000 after acquiring an additional 638 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Inspire Medical Systems in the third quarter worth about $49,000. 94.91% of the stock is owned by institutional investors.

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.