Piper Sandler Increases Inspire Medical Systems (NYSE:INSP) Price Target to $137.00

Inspire Medical Systems (NYSE:INSP) had its target price upped by Piper Sandler from $116.00 to $137.00 in a research report report published on Friday morning, The Fly reports. They currently have an overweight rating on the stock.

A number of other analysts have also recently commented on the stock. Zacks Investment Research cut shares of Inspire Medical Systems from a hold rating to a sell rating in a research note on Friday, July 3rd. Stifel Nicolaus upped their price target on shares of Inspire Medical Systems from $110.00 to $125.00 in a research note on Friday, August 21st. Oppenheimer reaffirmed a sell rating and set a $50.00 target price (up previously from $42.00) on shares of Inspire Medical Systems in a report on Wednesday, August 5th. They noted that the move was a valuation call. Robert W. Baird started coverage on shares of Inspire Medical Systems in a report on Tuesday, September 1st. They set an outperform rating and a $130.00 target price on the stock. Finally, Goldman Sachs Group started coverage on shares of Inspire Medical Systems in a report on Wednesday, July 15th. They set a buy rating and a $148.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. Inspire Medical Systems presently has an average rating of Hold and a consensus target price of $107.21.

INSP opened at $121.41 on Friday. The company has a quick ratio of 19.72, a current ratio of 20.48 and a debt-to-equity ratio of 0.11. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of -53.48 and a beta of 1.39. Inspire Medical Systems has a twelve month low of $40.53 and a twelve month high of $132.15. The company’s 50-day moving average price is $115.19 and its two-hundred day moving average price is $87.51.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Tuesday, August 4th. The company reported ($0.88) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.08) by $0.20. The firm had revenue of $12.18 million for the quarter, compared to analysts’ expectations of $31.06 million. Inspire Medical Systems had a negative net margin of 69.69% and a negative return on equity of 35.04%. The company’s quarterly revenue was down 32.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.32) earnings per share. As a group, sell-side analysts anticipate that Inspire Medical Systems will post -2.75 earnings per share for the current year.

In other Inspire Medical Systems news, CEO Timothy P. Herbert sold 80,000 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $105.66, for a total transaction of $8,452,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Steven Jandrich sold 1,000 shares of the stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $98.96, for a total transaction of $98,960.00. Following the sale, the vice president now directly owns 2,805 shares of the company’s stock, valued at approximately $277,582.80. The disclosure for this sale can be found here. Insiders sold a total of 398,714 shares of company stock valued at $43,067,771 in the last ninety days. 6.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Flagship Harbor Advisors LLC boosted its position in Inspire Medical Systems by 54.5% during the 1st quarter. Flagship Harbor Advisors LLC now owns 425 shares of the company’s stock valued at $26,000 after buying an additional 150 shares during the period. Marshall Wace North America L.P. purchased a new stake in shares of Inspire Medical Systems in the 1st quarter worth about $45,000. Private Advisor Group LLC purchased a new stake in shares of Inspire Medical Systems in the 2nd quarter worth about $68,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Inspire Medical Systems in the 2nd quarter worth about $75,000. Finally, Great West Life Assurance Co. Can lifted its position in shares of Inspire Medical Systems by 106.4% in the 2nd quarter. Great West Life Assurance Co. Can now owns 1,350 shares of the company’s stock worth $117,000 after purchasing an additional 696 shares during the period.

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). It offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.

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