Inspire Medical Systems (NYSE:INSP) Price Target Cut to $215.00 by Analysts at Royal Bank of Canada

Inspire Medical Systems (NYSE:INSP) had its price target trimmed by Royal Bank of Canada from $260.00 to $215.00 in a research note published on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms also recently issued reports on INSP. Truist Financial dropped their target price on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Morgan Stanley cut their price objective on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Wells Fargo & Company decreased their target price on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. Stifel Nicolaus reduced their price objective on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Finally, Robert W. Baird lowered their target price on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Inspire Medical Systems has an average rating of “Moderate Buy” and a consensus price target of $222.20.

Inspire Medical Systems Stock Down 2.1 %

INSP stock opened at $146.59 on Tuesday. The company’s fifty day simple moving average is $168.13 and its 200 day simple moving average is $184.49. Inspire Medical Systems has a 12-month low of $123.00 and a 12-month high of $257.40. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 84.73, a PEG ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data 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 return on equity of 8.19% and a net margin of 6.67%. Research analysts expect that Inspire Medical Systems will post 2.16 earnings per share for the current year.

Insider Activity at Inspire Medical Systems

In other news, insider Randy Ban sold 25,584 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the transaction, the insider now owns 7,259 shares in the company, valued at $1,332,026.50. The trade was a 77.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO John Rondoni sold 583 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total value of $99,395.67. Following the sale, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. MML Investors Services LLC boosted its holdings in shares of Inspire Medical Systems by 8.6% in the 3rd quarter. MML Investors Services LLC now owns 7,874 shares of the company’s stock worth $1,662,000 after buying an additional 625 shares during the last quarter. M&T Bank Corp boosted its stake in Inspire Medical Systems by 53.1% in the third quarter. M&T Bank Corp now owns 3,228 shares of the company’s stock valued at $681,000 after acquiring an additional 1,120 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Inspire Medical Systems by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 483,654 shares of the company’s stock valued at $102,102,000 after acquiring an additional 3,128 shares during the period. Tidal Investments LLC purchased a new stake in shares of Inspire Medical Systems during the 3rd quarter worth approximately $320,000. Finally, Synovus Financial Corp raised its holdings in shares of Inspire Medical Systems by 7.5% in the 3rd quarter. Synovus Financial Corp now owns 3,502 shares of the company’s stock worth $739,000 after purchasing an additional 244 shares during the period. Institutional investors 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.