Inspire Medical Systems (NYSE:INSP) Price Target Cut to $180.00 by Analysts at Royal Bank Of Canada

Inspire Medical Systems (NYSE:INSP) had its target price cut by Royal Bank Of Canada from $215.00 to $180.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts have also issued reports on the company. Truist Financial restated a “hold” rating and issued a $125.00 target price (down from $190.00) on shares of Inspire Medical Systems in a research note on Tuesday. Wells Fargo & Company lowered their target price on Inspire Medical Systems from $195.00 to $174.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. Morgan Stanley lowered their target price on Inspire Medical Systems from $200.00 to $182.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 15th. KeyCorp lowered Inspire Medical Systems from an “overweight” rating to a “sector weight” rating in a research note on Tuesday. Finally, Piper Sandler decreased their price objective on Inspire Medical Systems from $233.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $173.31.

Inspire Medical Systems Price Performance

Shares of INSP opened at $86.10 on Tuesday. The firm has a market cap of $2.54 billion, a PE ratio of 49.77, a PEG ratio of 1.99 and a beta of 1.22. The stock’s fifty day moving average price is $130.39 and its two-hundred day moving average price is $153.83. Inspire Medical Systems has a 1 year low of $73.92 and a 1 year high of $225.00.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Monday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.23. The firm had revenue of $217.09 million for the quarter, compared to analyst estimates of $214.50 million. Inspire Medical Systems had a return on equity of 10.39% and a net margin of 6.17%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 earnings per share. Sell-side analysts anticipate that Inspire Medical Systems will post 2.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Inspire Medical Systems

Institutional investors and hedge funds have recently bought and sold shares of the business. Huntington National Bank raised its holdings in Inspire Medical Systems by 228.3% during the fourth quarter. Huntington National Bank now owns 174 shares of the company’s stock valued at $32,000 after acquiring an additional 121 shares during the period. True Wealth Design LLC raised its holdings in Inspire Medical Systems by 39.0% during the fourth quarter. True Wealth Design LLC now owns 196 shares of the company’s stock valued at $36,000 after acquiring an additional 55 shares during the period. Parallel Advisors LLC increased its holdings in shares of Inspire Medical Systems by 356.5% in the first quarter. Parallel Advisors LLC now owns 210 shares of the company’s stock worth $33,000 after purchasing an additional 164 shares during the last quarter. Quarry LP increased its holdings in shares of Inspire Medical Systems by 2,127.3% in the first quarter. Quarry LP now owns 245 shares of the company’s stock worth $39,000 after purchasing an additional 234 shares during the last quarter. Finally, Banque Transatlantique SA bought a new stake in shares of Inspire Medical Systems in the first quarter worth about $46,000. 94.91% of the stock is owned by 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.