Robert W. Baird Forecasts Strong Price Appreciation for Inspire Medical Systems (NYSE:INSP) Stock

Inspire Medical Systems (NYSE:INSP) had its price objective upped by Robert W. Baird from $230.00 to $236.00 in a research report report published on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts have also recently commented on INSP. Morgan Stanley decreased their price target on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Wells Fargo & Company cut their price target on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Stifel Nicolaus lowered their price objective on Inspire Medical Systems from $190.00 to $175.00 and set a “hold” rating for the company in a research report on Monday, April 21st. KeyCorp cut their target price on shares of Inspire Medical Systems from $234.00 to $216.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Finally, Truist Financial cut their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $211.91.

Inspire Medical Systems Trading Up 2.0 %

Shares of INSP opened at $161.93 on Tuesday. The stock has a market cap of $4.82 billion, a PE ratio of 93.60, a PEG ratio of 2.86 and a beta of 1.39. Inspire Medical Systems has a 1 year low of $123.00 and a 1 year high of $256.11. The stock has a 50 day simple moving average of $159.46 and a 200-day simple moving average of $179.13.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Monday, May 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.33. The firm had revenue of $201.32 million for the quarter, compared to analyst estimates of $194.89 million. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.34) earnings per share. On average, sell-side analysts forecast that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 360 shares of Inspire Medical Systems stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $160.00, for a total transaction of $57,600.00. Following the sale, the director now directly owns 24,046 shares in the company, valued at $3,847,360. This trade represents a 1.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the transaction, the chief technology officer now owns 10,424 shares in the company, valued at approximately $1,777,187.76. This trade represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,527 shares of company stock worth $4,851,660 over the last three months. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Inspire Medical Systems

A number of institutional investors have recently modified their holdings of the company. Dragoneer Investment Group LLC bought a new position in shares of Inspire Medical Systems in the 4th quarter worth about $161,486,000. TimesSquare Capital Management LLC acquired a new position in Inspire Medical Systems in the fourth quarter valued at approximately $80,419,000. Congress Asset Management Co. boosted its holdings in shares of Inspire Medical Systems by 3,943.6% during the 1st quarter. Congress Asset Management Co. now owns 307,555 shares of the company’s stock worth $48,987,000 after buying an additional 299,949 shares in the last quarter. Marshall Wace LLP grew its position in shares of Inspire Medical Systems by 1,775.3% during the 4th quarter. Marshall Wace LLP now owns 277,131 shares of the company’s stock worth $51,375,000 after buying an additional 262,353 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Inspire Medical Systems in the 4th quarter valued at $47,604,000. 94.91% of the stock is 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.