Inspire Medical Systems (NYSE:INSP) Upgraded to C at TheStreet – MarketBeat

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Inspire Medical Systems (NYSE:INSP – Get Rating) had its target price raised by equities research analysts at Truist Financial from $270.00 to $308.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 20.13% from the company’s current price.
A number of other brokerages have also recently weighed in on INSP. TheStreet upgraded shares of Inspire Medical Systems from a “d+” rating to a “c” rating in a report on Friday. KeyCorp initiated coverage on Inspire Medical Systems in a research note on Tuesday, December 13th. They set an “overweight” rating and a $287.00 target price for the company. Lake Street Capital reduced their price target on Inspire Medical Systems from $320.00 to $250.00 in a research report on Wednesday, November 2nd. Finally, The Goldman Sachs Group raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $245.00 to $308.00 in a research report on Tuesday, December 13th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Inspire Medical Systems presently has an average rating of “Moderate Buy” and a consensus target price of $283.00.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock traded up $9.91 on Tuesday, reaching $256.39. The company had a trading volume of 8,580 shares, compared to its average volume of 294,520. The firm’s 50 day moving average price is $210.62 and its two-hundred day moving average price is $200.51. Inspire Medical Systems has a 52-week low of $142.74 and a 52-week high of $272.04. The firm has a market cap of $7.41 billion, a PE ratio of -140.40 and a beta of 1.55.
Inspire Medical Systems (NYSE:INSP – Get Rating) last announced its earnings results on Tuesday, November 1st. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.15. Inspire Medical Systems had a negative return on equity of 17.52% and a negative net margin of 14.47%. The company had revenue of $109.19 million for the quarter, compared to analyst estimates of $95.62 million. As a group, sell-side analysts predict that Inspire Medical Systems will post -2.42 EPS for the current year.

Insider Transactions at Inspire Medical Systems

In other news, Director Jerry C. Griffin sold 9,217 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $221.42, for a total transaction of $2,040,828.14. Following the completion of the sale, the director now owns 2,060 shares in the company, valued at approximately $456,125.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Inspire Medical Systems

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in shares of Inspire Medical Systems by 2.4% during the third quarter. Bank of New York Mellon Corp now owns 292,125 shares of the company’s stock worth $51,813,000 after acquiring an additional 6,784 shares during the last quarter. Baird Financial Group Inc. grew its position in Inspire Medical Systems by 2.0% during the 3rd quarter. Baird Financial Group Inc. now owns 12,716 shares of the company’s stock worth $2,256,000 after purchasing an additional 254 shares during the last quarter. BNP Paribas Arbitrage SNC increased its stake in Inspire Medical Systems by 131.0% in the third quarter. BNP Paribas Arbitrage SNC now owns 14,477 shares of the company’s stock valued at $2,568,000 after purchasing an additional 8,210 shares during the period. State Street Corp raised its holdings in shares of Inspire Medical Systems by 7.8% in the third quarter. State Street Corp now owns 585,750 shares of the company’s stock valued at $103,894,000 after buying an additional 42,571 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Inspire Medical Systems during the third quarter worth about $15,823,000. Institutional investors and hedge funds own 98.89% of the company’s stock.

Inspire Medical Systems Company Profile

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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.

Further Reading

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Analyst Recommendations for Inspire Medical Systems (NYSE:INSP)
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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