KeyCorp Cuts Inspire Medical Systems (NYSE:INSP) Price Target to $216.00

Inspire Medical Systems (NYSE:INSP) had its price objective lowered by KeyCorp from $234.00 to $216.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target points to a potential upside of 46.94% from the company’s current price.

A number of other analysts have also recently commented on INSP. Piper Sandler dropped their price target on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Royal Bank of Canada cut their target price on Inspire Medical Systems from $260.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Wells Fargo & Company decreased 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 report on Tuesday, February 11th. Stifel Nicolaus reduced their price objective on shares of 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, Truist Financial lowered 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 note on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and an average target price of $220.40.

Inspire Medical Systems Trading Down 2.1 %

Shares of NYSE:INSP traded down $3.21 during mid-day trading on Monday, reaching $147.00. The company had a trading volume of 26,848 shares, compared to its average volume of 582,965. Inspire Medical Systems has a one year low of $123.00 and a one year high of $257.40. The company’s 50-day moving average price is $166.16 and its 200-day moving average price is $183.05. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 85.00, a PEG ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Monday, February 10th. The company reported $1.15 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%. On average, research analysts anticipate that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Insider Activity

In other news, insider Randy Ban sold 25,584 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the transaction, the insider now directly owns 7,259 shares of the company’s stock, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO John Rondoni sold 583 shares of the stock in a transaction dated 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 owns 10,424 shares of the company’s stock, valued at $1,777,187.76. This represents a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Inspire Medical Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. grew its holdings in shares of Inspire Medical Systems by 885.7% in the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares during the last quarter. Huntington National Bank grew its holdings in Inspire Medical Systems by 228.3% in the 4th quarter. Huntington National Bank now owns 174 shares of the company’s stock worth $32,000 after acquiring an additional 121 shares during the last quarter. True Wealth Design LLC increased its position in shares of Inspire Medical Systems by 39.0% in the fourth quarter. True Wealth Design LLC now owns 196 shares of the company’s stock valued at $36,000 after acquiring an additional 55 shares during the period. Harbour Investments Inc. increased its position in shares of Inspire Medical Systems by 101.0% in the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock valued at $37,000 after acquiring an additional 99 shares during the period. Finally, Parallel Advisors LLC raised its stake in shares of Inspire Medical Systems by 356.5% during the first quarter. Parallel Advisors LLC now owns 210 shares of the company’s stock valued at $33,000 after acquiring an additional 164 shares during the last quarter. Institutional investors 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.