Morgan Stanley Lowers Inspire Medical Systems (NYSE:INSP) Price Target to $220.00

Inspire Medical Systems (NYSE:INSP) had its price target lowered by investment analysts at Morgan Stanley from $230.00 to $220.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 21.57% from the company’s current price.

Other equities analysts also recently issued reports about the company. Piper Sandler cut their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a report on Monday. Stifel Nicolaus reduced their price target on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Wells Fargo & Company dropped their price objective on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a research report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Finally, Robert W. Baird increased their price objective on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.64.

Inspire Medical Systems Stock Down 0.7 %

Shares of NYSE:INSP opened at $180.96 on Tuesday. The company has a market cap of $5.42 billion, a P/E ratio of 169.12 and a beta of 1.32. The business has a fifty day simple moving average of $189.72 and a 200-day simple moving average of $190.66. Inspire Medical Systems has a 52 week low of $123.00 and a 52 week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating 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%. Sell-side analysts expect that Inspire Medical Systems will post 1.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Xponance Inc. raised its stake in shares of Inspire Medical Systems by 2.2% in the 4th quarter. Xponance Inc. now owns 3,824 shares of the company’s stock valued at $709,000 after purchasing an additional 82 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Inspire Medical Systems by 16.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 129,120 shares of the company’s stock valued at $23,937,000 after buying an additional 18,540 shares in the last quarter. Harbour Investments Inc. lifted its holdings in Inspire Medical Systems by 101.0% during the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock worth $37,000 after buying an additional 99 shares during the last quarter. Monimus Capital Management LP acquired a new position in shares of Inspire Medical Systems in the 4th quarter worth approximately $5,099,000. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Inspire Medical Systems by 7.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 7,984 shares of the company’s stock valued at $1,480,000 after acquiring an additional 575 shares during the last quarter. 94.91% of the stock is currently 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.