Inspire Medical Systems (NYSE:INSP) Receives “Hold” Rating from Stifel Nicolaus

by · The Cerbat Gem

Inspire Medical Systems (NYSE:INSP – Get Free Report)‘s stock had its “hold” rating restated by equities researchers at Stifel Nicolaus in a research note issued on Tuesday, Benzinga reports. They presently have a $200.00 target price on the stock, up from their previous target price of $170.00. Stifel Nicolaus’ target price suggests a potential upside of 1.58% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Robert W. Baird raised their price objective on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a report on Tuesday. Truist Financial restated a “buy” rating and set a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Leerink Partners upped their price objective on Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research note on Tuesday, September 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a report on Wednesday, August 7th. Finally, Wells Fargo & Company boosted their price target on Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $227.33.

Read Our Latest Stock Analysis on INSP

Inspire Medical Systems Stock Up 2.2 %

Inspire Medical Systems stock traded up $4.18 during mid-day trading on Tuesday, reaching $196.89. The company had a trading volume of 501,930 shares, compared to its average volume of 594,652. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 1,093.83 and a beta of 1.36. The company has a 50 day moving average of $201.15 and a 200-day moving average of $179.93. Inspire Medical Systems has a 52 week low of $123.00 and a 52 week high of $257.40.

Inspire Medical Systems (NYSE:INSP – Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.54. Inspire Medical Systems had a return on equity of 1.03% and a net margin of 0.85%. The company had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. During the same quarter last year, the company earned ($0.29) EPS. The company’s quarterly revenue was up 32.6% on a year-over-year basis. On average, analysts predict that Inspire Medical Systems will post 0.75 earnings per share for the current fiscal year.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the transaction, the insider now directly owns 3,056 shares in the company, valued at approximately $576,208.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the completion of the sale, the director now directly owns 23,140 shares of the company’s stock, valued at $5,090,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Randy Ban sold 4,861 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the transaction, the insider now owns 3,056 shares in the company, valued at $576,208.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,692 shares of company stock valued at $1,099,207 over the last quarter. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Inspire Medical Systems

Several institutional investors and hedge funds have recently made changes to their positions in INSP. Van ECK Associates Corp raised its position in shares of Inspire Medical Systems by 7.5% in the 2nd quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock valued at $138,000 after acquiring an additional 72 shares during the period. Amalgamated Bank raised its holdings in Inspire Medical Systems by 4.1% in the second quarter. Amalgamated Bank now owns 2,005 shares of the company’s stock worth $268,000 after purchasing an additional 79 shares during the period. Signaturefd LLC boosted its position in shares of Inspire Medical Systems by 45.9% during the third quarter. Signaturefd LLC now owns 270 shares of the company’s stock worth $57,000 after purchasing an additional 85 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Inspire Medical Systems by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,193 shares of the company’s stock valued at $2,836,000 after buying an additional 92 shares during the period. Finally, Bessemer Group Inc. increased its position in shares of Inspire Medical Systems by 1.2% in the 1st quarter. Bessemer Group Inc. now owns 8,475 shares of the company’s stock valued at $1,820,000 after buying an additional 100 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

About Inspire Medical Systems

(Get Free Report)

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.

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