Inspire Medical Systems (NYSE: INSP – Get a rating) had its price target raised by Piper Sandler equity researchers from $305.00 to $310.00 in a research report released Wednesday, Fly reports. Piper Sandler’s price target suggests a potential upside of 45.16% from the stock’s previous close.
Several other equity research analysts have also recently commented on the company. Truist Financial began covering Inspire Medical Systems in a research report on Tuesday, April 12. They have set a “buy” rating and a price target of $315.00 on the stock. Bank of America began covering Inspire Medical Systems in a research report on Wednesday, March 2. They set a “buy” rating on the stock. SVB Leerink raised its price target on Inspire Medical Systems from $270.00 to $273.00 and gave the company an “outperform” rating in a Wednesday, Feb. 9 research report. Wolfe Research began covering Inspire Medical Systems in a research report on Tuesday, April 5. They set a “market performance” rating and a price target of $270.00 on the stock. To finish, Zacks Investment Research moved Inspire Medical Systems from a “buy” rating to a “hold” rating in a Wednesday, April 20 research report. Two research analysts gave the stock a hold rating and six gave the stock a buy rating. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $297.14.
Shares of Stock INSP opened at $213.56 on Wednesday. The stock has a fifty-day moving average of $238.19 and a 200-day moving average of $237.45. Inspire Medical Systems has a 52-week low of $159.18 and a 52-week high of $286.29. The company has a market capitalization of $5.88 billion, a price-earnings ratio of -137.78 and a beta of 1.65. The company has a quick ratio of 6.08, a current ratio of 6.50 and a debt ratio of 0.07.
Inspire Medical Systems (NYSE: INSP – Get a rating) last released its quarterly earnings data on Tuesday, May 3. The company reported ($0.61) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.73) by $0.12. The company posted revenue of $69.40 million in the quarter, versus a consensus estimate of $64.17 million. Inspire Medical Systems had a negative return on equity of 18.84% and a negative net margin of 18.01%. The company’s quarterly revenue increased by 93.6% compared to the same quarter last year. In the same quarter of the previous year, the company had made earnings per share ($0.60). Equity research analysts expect Inspire Medical Systems to post -1.98 earnings per share for the current year.
In related news, Director Marilyn C. Nelson sold 2,579 shares of Inspire Medical Systems in a trade that took place on Friday, March 25. The stock was sold at an average price of $250.01, for a total transaction of $644,775.79. The sale was disclosed in a filing with the SEC, accessible via the SEC website. Additionally, CEO Timothy P. Herbert sold 20,000 shares of Inspire Medical Systems in a trade that took place on Thursday, March 17. The stock was sold at an average price of $225.40, for a total value of $4,508,000.00. Disclosure of this sale can be found here. In the past ninety days, insiders have sold 52,143 shares of the company worth $12,848,826. Insiders hold 5.00% of the shares of the company.
Institutional investors have recently changed their positions in the company. Leverty Financial Group LLC bought a new position in shares of Inspire Medical Systems in Q4 for a value of approximately $25,000. Assetmark Inc. bought a new stock position in Inspire Medical Systems in Q3 for a value of approximately $33,000. Rockefeller Capital Management LP increased its holdings of Inspire Medical Systems shares by 80.0% in the fourth quarter. Rockefeller Capital Management LP now owns 144 shares of the company worth $33,000 after purchasing an additional 64 shares during the period. Covestor Ltd bought a new position in shares of Inspire Medical Systems in the 4th quarter for a value of approximately $35,000. Finally, Marshall Wace North America LP bought a new position in Inspire Medical Systems stock in Q1 for about $45,000. Hedge funds and other institutional investors own 93.98% of the company’s shares.
About Inspire Medical Systems (Get a rating)
Inspire Medical Systems, Inc., a medical technology company, is focused on developing and commercializing minimally invasive solutions for patients with obstructive sleep apnea (OSA) in the United States and around the world. The company offers the Inspire System, a neurostimulation technology that provides safe and effective treatment for moderate to severe OSAS.
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