Inspire Medical Systems (NYSE:INSP) Price Target Lowered to $322.00 at UBS Group

Inspire Medical Systems (NYSE:INSP) had its price target lowered by UBS Group from $405.00 to $322.00 in a research note issued to investors on Wednesday, Marketbeat.com reports. UBS Group currently has a buy rating on the stock.

Several other analysts also recently issued reports on the company. Mizuho raised their price target on Inspire Medical Systems from $300.00 to $380.00 in a report on Monday, July 17th. Wells Fargo & Company raised their target price on Inspire Medical Systems from $315.00 to $330.00 and gave the company an overweight rating in a research report on Wednesday, August 2nd. JPMorgan Chase & Co. raised their target price on Inspire Medical Systems from $300.00 to $340.00 and gave the company an overweight rating in a research report on Wednesday, August 2nd. Robert W. Baird began coverage on Inspire Medical Systems in a research report on Tuesday, July 18th. They issued an outperform rating and a $371.00 target price on the stock. Finally, Stifel Nicolaus raised their target price on Inspire Medical Systems from $300.00 to $350.00 in a research report on Thursday, July 13th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of Buy and a consensus target price of $345.08.

Inspire Medical Systems Trading Up 2.4 %

Shares of NYSE INSP opened at $239.93 on Wednesday. The company has a market cap of $7.04 billion, a price-to-earnings ratio of -166.62 and a beta of 1.40. Inspire Medical Systems has a 12-month low of $159.62 and a 12-month high of $330.00. The stock’s 50 day simple moving average is $271.81 and its 200 day simple moving average is $272.88.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Tuesday, August 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.10. The business had revenue of $151.09 million for the quarter, compared to the consensus estimate of $136.47 million. Inspire Medical Systems had a negative return on equity of 8.21% and a negative net margin of 7.81%. The business’s revenue was up 65.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.53) EPS. As a group, equities analysts forecast that Inspire Medical Systems will post -1.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jerry C. Griffin sold 529 shares of Inspire Medical Systems stock in a transaction on Monday, July 31st. The stock was sold at an average price of $290.47, for a total value of $153,658.63. Following the transaction, the director now directly owns 8,852 shares in the company, valued at approximately $2,571,240.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 4,232 shares of company stock worth $1,315,808 in the last three months. 4.50% of the stock is currently owned by insiders.

Institutional Trading of Inspire Medical Systems

Institutional investors have recently bought and sold shares of the company. O Shaughnessy Asset Management LLC acquired a new stake in Inspire Medical Systems during the fourth quarter valued at $279,000. PNC Financial Services Group Inc. raised its holdings in Inspire Medical Systems by 20.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,143 shares of the company’s stock valued at $540,000 after buying an additional 369 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in Inspire Medical Systems by 45.7% during the fourth quarter. Neuberger Berman Group LLC now owns 19,231 shares of the company’s stock valued at $4,844,000 after buying an additional 6,032 shares in the last quarter. Integral Health Asset Management LLC raised its holdings in Inspire Medical Systems by 33.3% during the first quarter. Integral Health Asset Management LLC now owns 80,000 shares of the company’s stock valued at $18,726,000 after buying an additional 20,000 shares in the last quarter. Finally, UBS Group AG raised its holdings in Inspire Medical Systems by 155.8% during the fourth quarter. UBS Group AG now owns 40,631 shares of the company’s stock valued at $10,234,000 after buying an additional 24,747 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.