Inspire Medical Systems (NYSE:INSP) Price Target Lowered to $182.00 at Morgan Stanley

Inspire Medical Systems (NYSE:INSP) had its price target reduced by Morgan Stanley from $200.00 to $182.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also issued reports on INSP. Wall Street Zen upgraded shares of Inspire Medical Systems from a “hold” rating to a “buy” rating in a research report on Saturday. Robert W. Baird lifted their price target on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 6th. KeyCorp lowered their price objective 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. JPMorgan Chase & Co. lowered their price objective on shares of Inspire Medical Systems from $235.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company lowered their price objective on shares of Inspire Medical Systems from $195.00 to $174.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.27.

Inspire Medical Systems Price Performance

NYSE INSP opened at $127.82 on Tuesday. Inspire Medical Systems has a 12 month low of $123.00 and a 12 month high of $225.00. The firm has a market capitalization of $3.77 billion, a PE ratio of 58.90, a P/E/G ratio of 1.99 and a beta of 1.25. The company’s 50 day simple moving average is $137.80 and its 200 day simple moving average is $160.65.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.33. Inspire Medical Systems had a net margin of 7.92% and a return on equity of 10.00%. The business had revenue of $201.32 million for the quarter, compared to analyst estimates of $194.89 million. During the same quarter last year, the business earned ($0.34) earnings per share. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. Sell-side analysts anticipate that Inspire Medical Systems will post 2.16 earnings per share for the current fiscal year.

Insider Activity

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of Inspire Medical Systems stock in a transaction 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 completion of the sale, the director owned 24,046 shares of the company’s stock, valued at $3,847,360. This trade represents a 1.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Inspire Medical Systems

Institutional investors have recently modified their holdings of the stock. Huntington National Bank boosted its holdings in Inspire Medical Systems by 228.3% in the fourth quarter. Huntington National Bank now owns 174 shares of the company’s stock worth $32,000 after purchasing an additional 121 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Inspire Medical Systems by 356.5% in the first quarter. Parallel Advisors LLC now owns 210 shares of the company’s stock worth $33,000 after purchasing an additional 164 shares in the last quarter. True Wealth Design LLC boosted its holdings in Inspire Medical Systems by 39.0% in the fourth quarter. True Wealth Design LLC now owns 196 shares of the company’s stock worth $36,000 after purchasing an additional 55 shares in the last quarter. Harbour Investments Inc. boosted its holdings in Inspire Medical Systems by 101.0% in the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock worth $37,000 after purchasing an additional 99 shares in the last quarter. Finally, Quarry LP boosted its holdings in Inspire Medical Systems by 2,127.3% in the first quarter. Quarry LP now owns 245 shares of the company’s stock worth $39,000 after purchasing an additional 234 shares in the last quarter. Institutional investors and hedge funds 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.