Robert W. Baird Has Lowered Expectations for Inspire Medical Systems (NYSE:INSP) Stock Price

Inspire Medical Systems (NYSE:INSP) had its target price reduced by Robert W. Baird from $252.00 to $248.00 in a research report report published on Tuesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

INSP has been the subject of several other research reports. Wells Fargo & Company dropped their price target on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a research note on Tuesday. Bank of America upgraded shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $220.00 to $255.00 in a research note on Wednesday, November 20th. KeyCorp restated an “overweight” rating and issued a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus dropped their price target 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. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Inspire Medical Systems currently has an average rating of “Moderate Buy” and an average target price of $228.82.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock opened at $187.23 on Tuesday. Inspire Medical Systems has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The firm has a 50 day moving average price of $189.20 and a 200 day moving average price of $191.36. The company has a market capitalization of $5.61 billion, a PE ratio of 174.98 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. As a group, equities research analysts forecast that Inspire Medical Systems will post 1.33 earnings per share for the current year.

Insider Activity at Inspire Medical Systems

In related news, CTO John Rondoni sold 583 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total value of $99,395.67. Following the completion of the sale, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Inspire Medical Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Farringdon Capital Ltd. purchased a new stake in Inspire Medical Systems in the fourth quarter valued at $286,000. Zacks Investment Management lifted its position in Inspire Medical Systems by 12.7% in the fourth quarter. Zacks Investment Management now owns 12,657 shares of the company’s stock valued at $2,346,000 after acquiring an additional 1,429 shares during the last quarter. Marshall Wace LLP lifted its position in Inspire Medical Systems by 1,775.3% in the fourth quarter. Marshall Wace LLP now owns 277,131 shares of the company’s stock valued at $51,375,000 after acquiring an additional 262,353 shares during the last quarter. Guggenheim Capital LLC lifted its position in Inspire Medical Systems by 28.6% in the fourth quarter. Guggenheim Capital LLC now owns 2,938 shares of the company’s stock valued at $545,000 after acquiring an additional 654 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in Inspire Medical Systems in the fourth quarter valued at $459,000. 94.91% of the stock is owned by hedge funds and other institutional investors.

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.