Inspire Medical Systems (NYSE:INSP) PT Lowered to $200.00 at Robert W. Baird

Inspire Medical Systems (NYSE:INSP) had its price objective decreased by Robert W. Baird from $220.00 to $200.00 in a report released on Wednesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other research analysts have also recently issued reports on the stock. Truist Financial lowered their target price on shares of Inspire Medical Systems from $280.00 to $217.00 and set a buy rating for the company in a report on Tuesday, July 16th. Piper Sandler raised their price objective on Inspire Medical Systems from $250.00 to $255.00 and gave the stock an overweight rating in a report on Wednesday, May 8th. Royal Bank of Canada began coverage on Inspire Medical Systems in a report on Friday, April 19th. They issued an outperform rating and a $285.00 target price for the company. Bank of America dropped their price target on Inspire Medical Systems from $225.00 to $185.00 and set a neutral rating on the stock in a research note on Monday, June 3rd. Finally, Morgan Stanley reduced their price objective on Inspire Medical Systems from $250.00 to $210.00 and set an overweight rating for the company in a research note on Monday, July 15th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Inspire Medical Systems currently has an average rating of Moderate Buy and a consensus target price of $219.79.

Inspire Medical Systems Trading Up 2.9 %

NYSE:INSP traded up $5.52 during trading hours on Wednesday, hitting $193.23. The company’s stock had a trading volume of 651,570 shares, compared to its average volume of 610,963. Inspire Medical Systems has a 52-week low of $123.00 and a 52-week high of $257.40. The stock has a market capitalization of $5.74 billion, a P/E ratio of -351.33 and a beta of 1.31. The stock has a fifty day moving average of $148.25 and a 200-day moving average of $182.52.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.46. The business had revenue of $195.89 million for the quarter, compared to the consensus estimate of $189.08 million. Inspire Medical Systems had a negative return on equity of 2.82% and a negative net margin of 2.38%. The business’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.41) EPS. On average, sell-side analysts forecast that Inspire Medical Systems will post 0.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of INSP. Van ECK Associates Corp increased its holdings in shares of Inspire Medical Systems by 7.5% in the 2nd quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock valued at $138,000 after purchasing an additional 72 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Inspire Medical Systems by 1.2% in the 1st quarter. Bessemer Group Inc. now owns 8,475 shares of the company’s stock worth $1,820,000 after acquiring an additional 100 shares during the period. Qsemble Capital Management LP increased its stake in Inspire Medical Systems by 2.5% in the 4th quarter. Qsemble Capital Management LP now owns 4,253 shares of the company’s stock valued at $865,000 after purchasing an additional 105 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in Inspire Medical Systems by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 12,750 shares of the company’s stock worth $2,594,000 after purchasing an additional 120 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC boosted its position in Inspire Medical Systems by 0.8% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 15,508 shares of the company’s stock worth $2,075,000 after purchasing an additional 125 shares in 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.