Morgan Stanley Cuts Inspire Medical Systems (NYSE:INSP) Price Target to $182.00

Inspire Medical Systems (NYSE:INSP) had its price objective decreased by Morgan Stanley from $200.00 to $182.00 in a report issued on Tuesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other research analysts also recently issued research reports about the company. Robert W. Baird increased their target price on Inspire Medical Systems from $230.00 to $236.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. KeyCorp reduced their price objective on Inspire Medical Systems from $234.00 to $216.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. lowered their target price on shares of Inspire Medical Systems from $235.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Royal Bank Of Canada dropped their target price on shares of Inspire Medical Systems from $260.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Finally, Stifel Nicolaus reduced their price target on shares of Inspire Medical Systems from $190.00 to $175.00 and set a “hold” rating on the stock in a research report on Monday, April 21st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $210.27.

Inspire Medical Systems Price Performance

INSP opened at $128.21 on Tuesday. Inspire Medical Systems has a 12-month low of $123.00 and a 12-month high of $225.00. The stock has a market capitalization of $3.78 billion, a PE ratio of 59.08, a P/E/G ratio of 1.95 and a beta of 1.25. The firm’s fifty day moving average price is $136.73 and its 200 day moving average price is $160.03.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Monday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.33. Inspire Medical Systems had a net margin of 7.92% and a return on equity of 10.00%. The business had revenue of $201.32 million for the quarter, compared to analyst estimates of $194.89 million. During the same quarter in the prior year, the business posted ($0.34) EPS. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. On average, equities research analysts forecast that Inspire Medical Systems will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 360 shares of Inspire Medical Systems stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $160.00, for a total value of $57,600.00. Following the sale, the director directly owned 24,046 shares in the company, valued at $3,847,360. This trade represents a 1.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Inspire Medical Systems

Large investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its position in shares of Inspire Medical Systems by 22.7% during the second quarter. Janney Montgomery Scott LLC now owns 5,316 shares of the company’s stock worth $690,000 after buying an additional 984 shares during the period. Tempus Wealth Planning LLC bought a new stake in Inspire Medical Systems during the 2nd quarter valued at $338,000. State of Alaska Department of Revenue boosted its position in Inspire Medical Systems by 6.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 17,556 shares of the company’s stock worth $2,277,000 after acquiring an additional 1,116 shares during the period. ST Germain D J Co. Inc. acquired a new position in Inspire Medical Systems during the 2nd quarter worth $148,000. Finally, Congress Asset Management Co. grew its stake in shares of Inspire Medical Systems by 21.4% in the second quarter. Congress Asset Management Co. now owns 373,347 shares of the company’s stock worth $48,449,000 after purchasing an additional 65,792 shares in the last quarter. Institutional investors and hedge funds 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.