Inspire Medical Systems (NYSE:INSP) Price Target Lowered to $220.00 at Morgan Stanley

Inspire Medical Systems (NYSE:INSP) had its price objective dropped by equities research analysts at Morgan Stanley from $230.00 to $220.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 17.54% from the company’s previous close.

INSP has been the topic of several other reports. KeyCorp reiterated an “overweight” rating and issued a $234.00 target price (down from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Robert W. Baird increased their price objective on Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Piper Sandler cut their target price on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a research note on Monday. Wells Fargo & Company decreased their price target on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $228.82.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock opened at $187.17 on Tuesday. The business’s 50 day moving average price is $189.39 and its 200 day moving average price is $191.39. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 174.93 and a beta of 1.32. Inspire Medical Systems has a one year low of $123.00 and a one year high of $257.40.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. On average, analysts predict that Inspire Medical Systems will post 1.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Inspire Medical Systems

Hedge funds have recently bought and sold shares of the company. ExodusPoint Capital Management LP increased its stake in Inspire Medical Systems by 27.2% during the fourth quarter. ExodusPoint Capital Management LP now owns 152,660 shares of the company’s stock worth $28,300,000 after purchasing an additional 32,602 shares during the period. Huntington National Bank grew its holdings in shares of Inspire Medical Systems by 228.3% in the fourth quarter. Huntington National Bank now owns 174 shares of the company’s stock valued at $32,000 after purchasing an additional 121 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Inspire Medical Systems in the fourth quarter valued at approximately $6,279,000. Geode Capital Management LLC increased its stake in Inspire Medical Systems by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 486,341 shares of the company’s stock worth $90,188,000 after buying an additional 2,687 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Inspire Medical Systems by 8.7% during the 4th quarter. Franklin Resources Inc. now owns 221,560 shares of the company’s stock worth $41,073,000 after buying an additional 17,666 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

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.