Wells Fargo & Company Issues Positive Forecast for Inspire Medical Systems (NYSE:INSP) Stock Price

Inspire Medical Systems (NYSE:INSP) had its price target lifted by Wells Fargo & Company from $187.00 to $198.00 in a report published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other equities research analysts also recently commented on the company. KeyCorp reduced their target price on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a report on Wednesday, August 7th. Robert W. Baird lifted their price objective on Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a report on Tuesday. Truist Financial restated a “buy” rating and set a $240.00 price objective (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Finally, Morgan Stanley decreased their price target on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $227.75.

Inspire Medical Systems Trading Down 0.8 %

NYSE:INSP traded down $1.61 during mid-day trading on Tuesday, hitting $198.86. The stock had a trading volume of 103,784 shares, compared to its average volume of 599,051. Inspire Medical Systems has a twelve month low of $123.00 and a twelve month high of $257.40. The company has a market capitalization of $5.93 billion, a PE ratio of 187.36 and a beta of 1.36. The stock has a 50-day simple moving average of $201.94 and a two-hundred day simple moving average of $179.94.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.06 by $0.54. The firm had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. Inspire Medical Systems had a return on equity of 5.51% and a net margin of 4.37%. The firm’s revenue was up 32.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.29) EPS. Sell-side analysts predict that Inspire Medical Systems will post 0.75 EPS for the current fiscal year.

Insider Activity

In other news, insider Randy Ban sold 4,861 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the transaction, the insider now directly owns 3,056 shares in the company, valued at approximately $576,208.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the sale, the insider now directly owns 3,056 shares in the company, valued at $576,208.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the transaction, the director now directly owns 23,140 shares in the company, valued at $5,090,800. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,692 shares of company stock valued at $1,099,207 over the last three months. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Inspire Medical Systems

Several large investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Inspire Medical Systems in the first quarter valued at about $3,113,000. BNP Paribas Financial Markets lifted its position in Inspire Medical Systems by 89.4% in the first quarter. BNP Paribas Financial Markets now owns 2,297 shares of the company’s stock worth $493,000 after purchasing an additional 1,084 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Inspire Medical Systems by 32.8% in the first quarter. Janney Montgomery Scott LLC now owns 1,532 shares of the company’s stock valued at $329,000 after buying an additional 378 shares during the period. AIA Group Ltd acquired a new stake in Inspire Medical Systems in the 1st quarter valued at about $2,183,000. Finally, SG Americas Securities LLC boosted its holdings in Inspire Medical Systems by 9.5% during the first quarter. SG Americas Securities LLC now owns 2,907 shares of the company’s stock worth $624,000 after buying an additional 251 shares in the last quarter. Hedge funds and other institutional investors 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.