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

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $232.55.

A number of equities research analysts recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Robert W. Baird lifted their price target on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Truist Financial reiterated a “buy” rating and issued a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Bank of America upgraded shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $220.00 to $255.00 in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company increased their price target on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th.

Inspire Medical Systems Trading Up 2.4 %

NYSE:INSP opened at $177.97 on Tuesday. Inspire Medical Systems has a 12-month low of $123.00 and a 12-month high of $257.40. The stock’s 50 day simple moving average is $189.18 and its 200-day simple moving average is $185.05. The firm has a market cap of $5.33 billion, a P/E ratio of 166.33 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The company had revenue of $203.20 million for the quarter, compared to analysts’ expectations of $197.59 million. During the same period in the previous year, the company posted ($0.29) EPS. Inspire Medical Systems’s revenue was up 32.6% compared to the same quarter last year. Research analysts forecast that Inspire Medical Systems will post 1.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Inspire Medical Systems

A number of institutional investors and hedge funds have recently bought and sold shares of INSP. True Wealth Design LLC acquired a new position in shares of Inspire Medical Systems in the third quarter worth $30,000. Farther Finance Advisors LLC raised its stake in Inspire Medical Systems by 1,158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after purchasing an additional 139 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Inspire Medical Systems by 559.3% in the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after purchasing an additional 151 shares in the last quarter. Quarry LP boosted its stake in shares of Inspire Medical Systems by 105.4% during the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after purchasing an additional 176 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Inspire Medical Systems during the second quarter worth about $53,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.

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.