Inspire Medical Systems (NYSE:INSP) Given New $248.00 Price Target at Robert W. Baird

Inspire Medical Systems (NYSE:INSP) had its price target lowered by investment analysts at Robert W. Baird from $252.00 to $248.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 37.05% from the stock’s previous close.

A number of other equities analysts also recently commented on INSP. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Stifel Nicolaus cut their price objective on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $220.00 to $255.00 in a report on Wednesday, November 20th. Wells Fargo & Company dropped their target price on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Morgan Stanley dropped their target price on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and an average price target of $229.27.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock opened at $180.96 on Tuesday. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 169.12 and a beta of 1.32. Inspire Medical Systems has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The stock’s fifty day moving average is $189.72 and its two-hundred day moving average is $190.66.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. As a group, sell-side analysts forecast that Inspire Medical Systems will post 1.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Inspire Medical Systems

A number of hedge funds have recently bought and sold shares of INSP. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Inspire Medical Systems in the 3rd quarter worth approximately $1,929,000. Thrivent Financial for Lutherans grew its position in shares of Inspire Medical Systems by 39.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 110,580 shares of the company’s stock worth $23,337,000 after acquiring an additional 31,444 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Inspire Medical Systems by 798.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock worth $56,530,000 after acquiring an additional 238,034 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of Inspire Medical Systems in the 4th quarter worth approximately $313,000. Finally, Principal Financial Group Inc. grew its position in shares of Inspire Medical Systems by 3,812.6% in the 3rd quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock worth $29,777,000 after acquiring an additional 137,483 shares in 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.