Inspire Medical Systems (NYSE:INSP) PT Raised to $110.00

Inspire Medical Systems (NYSE:INSP) had its price target hoisted by equities researchers at SVB Leerink from $85.00 to $110.00 in a research note issued to investors on Monday, The Fly reports. The brokerage presently has an “outperform” rating on the stock. SVB Leerink’s price target points to a potential upside of 29.98% from the company’s previous close.

Several other brokerages have also recently issued reports on INSP. Piper Sandler boosted their price objective on shares of Inspire Medical Systems from $81.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, June 18th. Bank of America upgraded shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Tuesday, April 28th. Stifel Nicolaus lifted their target price on shares of Inspire Medical Systems from $88.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Oppenheimer assumed coverage on shares of Inspire Medical Systems in a report on Wednesday, May 6th. They set a “sell” rating and a $42.00 target price on the stock. Finally, Guggenheim boosted their price objective on shares of Inspire Medical Systems from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $80.55.

INSP stock opened at $84.63 on Monday. Inspire Medical Systems has a one year low of $40.53 and a one year high of $99.26. The company has a 50 day moving average price of $84.25 and a two-hundred day moving average price of $75.30. The stock has a market capitalization of $2.22 billion, a P/E ratio of -49.49 and a beta of 1.33. The company has a debt-to-equity ratio of 0.19, a quick ratio of 10.80 and a current ratio of 11.33.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by ($0.10). Inspire Medical Systems had a negative net margin of 47.30% and a negative return on equity of 29.14%. The company had revenue of $21.30 million for the quarter, compared to analysts’ expectations of $21.35 million. During the same period in the prior year, the firm earned ($0.35) earnings per share. The firm’s quarterly revenue was up 30.7% on a year-over-year basis. Research analysts forecast that Inspire Medical Systems will post -3.11 earnings per share for the current fiscal year.

In other news, VP Steven Jandrich sold 2,000 shares of the company’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $72.68, for a total value of $145,360.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Randy Ban sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $64.00, for a total transaction of $640,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 125,000 shares of company stock worth $10,452,750. Company insiders own 6.60% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Two Sigma Investments LP bought a new stake in shares of Inspire Medical Systems during the 1st quarter valued at about $948,000. Nuveen Asset Management LLC grew its position in shares of Inspire Medical Systems by 16.0% during the 1st quarter. Nuveen Asset Management LLC now owns 65,427 shares of the company’s stock valued at $3,944,000 after buying an additional 9,017 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Inspire Medical Systems by 1,209.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 26,770 shares of the company’s stock valued at $1,614,000 after buying an additional 24,726 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Inspire Medical Systems by 136.6% during the 1st quarter. Wells Fargo & Company MN now owns 153,782 shares of the company’s stock valued at $9,271,000 after buying an additional 88,783 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of Inspire Medical Systems by 575.5% during the 1st quarter. Deutsche Bank AG now owns 160,556 shares of the company’s stock valued at $9,678,000 after buying an additional 136,788 shares during the last quarter. 86.89% of the stock is owned by institutional investors and hedge funds.

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). It offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.

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Analyst Recommendations for Inspire Medical Systems (NYSE:INSP)

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