Inspire Medical Systems (NYSE:INSP) Price Target Cut to $233.00 by Analysts at Piper Sandler

Inspire Medical Systems (NYSE:INSP) had its target price trimmed by Piper Sandler from $260.00 to $233.00 in a research report sent to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

INSP has been the topic of several other research reports. KeyCorp reaffirmed an “overweight” rating and issued a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Stifel Nicolaus dropped their price target 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 raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their price target for the company from $220.00 to $255.00 in a report on Wednesday, November 20th. Robert W. Baird upped their price target on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Inspire Medical Systems has an average rating of “Moderate Buy” and a consensus target price of $228.82.

Inspire Medical Systems Price Performance

INSP opened at $187.17 on Monday. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 174.93 and a beta of 1.32. Inspire Medical Systems has a 1-year low of $123.00 and a 1-year high of $257.40. The business has a 50 day moving average price of $189.39 and a two-hundred day moving average price of $191.39.

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 analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. Equities analysts expect that Inspire Medical Systems will post 1.33 EPS for the current fiscal year.

Institutional Trading of Inspire Medical Systems

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Inspire Medical Systems by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company’s stock worth $606,259,000 after acquiring an additional 38,219 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of Inspire Medical Systems by 1.6% in the third quarter. Wasatch Advisors LP now owns 1,323,470 shares of the company’s stock worth $279,318,000 after acquiring an additional 20,481 shares during the last quarter. State Street Corp increased its stake in shares of Inspire Medical Systems by 78.0% in the third quarter. State Street Corp now owns 1,049,784 shares of the company’s stock worth $221,557,000 after acquiring an additional 459,990 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Inspire Medical Systems by 5.8% in the third quarter. Janus Henderson Group PLC now owns 502,609 shares of the company’s stock worth $106,075,000 after acquiring an additional 27,374 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Inspire Medical Systems by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 486,341 shares of the company’s stock worth $90,188,000 after acquiring an additional 2,687 shares during the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

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.