Wells Fargo & Company Cuts Inspire Medical Systems (NYSE:INSP) Price Target to $195.00

Inspire Medical Systems (NYSE:INSP) had its target price decreased by stock analysts at Wells Fargo & Company from $198.00 to $195.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 7.76% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the company. Robert W. Baird raised 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, November 5th. Stifel Nicolaus lowered their price target on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Piper Sandler dropped their price objective on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Inspire Medical Systems presently has a consensus rating of “Moderate Buy” and an average 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 capitalization of $5.42 billion, a P/E ratio of 169.12 and a beta of 1.32. Inspire Medical Systems has a 52-week low of $123.00 and a 52-week high of $257.40. The stock’s fifty day simple moving average is $189.72 and its 200-day simple 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. On average, sell-side analysts anticipate that Inspire Medical Systems will post 1.33 earnings per share for the current year.

Institutional Trading of Inspire Medical Systems

A number of institutional investors have recently added to or reduced their stakes in INSP. Wasatch Advisors LP raised its position in Inspire Medical Systems by 1.6% in the third quarter. Wasatch Advisors LP now owns 1,323,470 shares of the company’s stock valued at $279,318,000 after purchasing an additional 20,481 shares during the period. State Street Corp raised its stake in shares of Inspire Medical Systems by 78.0% during the third quarter. State Street Corp now owns 1,049,784 shares of the company’s stock valued at $221,557,000 after purchasing an additional 459,990 shares during the period. Janus Henderson Group PLC lifted its position in shares of Inspire Medical Systems by 5.8% during the third quarter. Janus Henderson Group PLC now owns 502,609 shares of the company’s stock worth $106,075,000 after purchasing an additional 27,374 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Inspire Medical Systems by 0.7% in the third quarter. Geode Capital Management LLC now owns 483,654 shares of the company’s stock valued at $102,102,000 after purchasing an additional 3,128 shares during the period. Finally, TimesSquare Capital Management LLC acquired a new stake in Inspire Medical Systems during the 4th quarter valued at $80,419,000. 94.91% of the stock is owned by hedge funds and other institutional investors.

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.