Inspire Medical Systems, Inc. (NYSE:INSP) Given Consensus Rating of “Moderate Buy” by Brokerages

Inspire Medical Systems, Inc. (NYSE:INSP) has been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $228.82.

INSP has been the topic of several recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday. Truist Financial dropped their target price on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday. Piper Sandler decreased their price target on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a report on Monday. Robert W. Baird dropped their price objective on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Company cut their price objective on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a research report on Tuesday.

Institutional Trading of Inspire Medical Systems

A number of institutional investors have recently added to or reduced their stakes in INSP. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Inspire Medical Systems during the 3rd quarter valued at approximately $1,929,000. Thrivent Financial for Lutherans raised its holdings in Inspire Medical Systems by 39.7% during the third quarter. Thrivent Financial for Lutherans now owns 110,580 shares of the company’s stock worth $23,337,000 after purchasing an additional 31,444 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Inspire Medical Systems by 798.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock worth $56,530,000 after purchasing an additional 238,034 shares during the last quarter. Merit Financial Group LLC purchased a new stake in Inspire Medical Systems during the fourth quarter worth $313,000. Finally, Principal Financial Group Inc. grew its holdings in Inspire Medical Systems by 3,812.6% in the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock valued at $29,777,000 after purchasing an additional 137,483 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Trading Up 1.7 %

INSP stock opened at $187.17 on Friday. The business has a 50 day simple moving average of $189.39 and a 200-day simple moving average of $191.39. The company has a market capitalization of $5.61 billion, a P/E ratio of 174.93 and a beta of 1.32. Inspire Medical Systems has a twelve month low of $123.00 and a twelve month high of $257.40.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, topping 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%. Research analysts predict that Inspire Medical Systems will post 1.33 EPS for the current fiscal year.

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.