Inspire Medical Systems (NYSE:INSP) Price Target Lowered to $125.00 at Evercore ISI

Inspire Medical Systems (NYSE:INSP) had its target price decreased by Evercore ISI from $150.00 to $125.00 in a report published on Tuesday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Other research analysts also recently issued reports about the stock. Piper Sandler cut their price target on shares of Inspire Medical Systems from $233.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, August 5th. Wells Fargo & Company dropped their price objective on shares of Inspire Medical Systems from $174.00 to $101.00 and set an “equal weight” rating for the company in a report on Tuesday, August 5th. Lake Street Capital set a $150.00 price objective on shares of Inspire Medical Systems and gave the stock a “buy” rating in a report on Tuesday, August 5th. Leerink Partners dropped their price objective on shares of Inspire Medical Systems from $116.00 to $97.00 and set a “market perform” rating for the company in a report on Friday, August 15th. Finally, Stifel Nicolaus set a $140.00 price objective on shares of Inspire Medical Systems and gave the stock a “hold” rating in a report on Tuesday, August 5th. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Inspire Medical Systems presently has a consensus rating of “Hold” and a consensus target price of $152.64.

Inspire Medical Systems Price Performance

Shares of NYSE:INSP opened at $76.87 on Tuesday. The firm has a fifty day moving average price of $87.03 and a two-hundred day moving average price of $123.36. Inspire Medical Systems has a one year low of $70.77 and a one year high of $216.01. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 44.43, a PEG ratio of 2.38 and a beta of 1.16.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.22 by $0.23. Inspire Medical Systems had a net margin of 6.17% and a return on equity of 10.38%. The firm had revenue of $217.09 million during the quarter, compared to the consensus estimate of $214.50 million. During the same period last year, the firm earned $0.32 EPS. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. Equities research analysts expect that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Inspire Medical Systems announced that its board has authorized a stock repurchase program on Monday, August 11th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to repurchase up to 8.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Inspire Medical Systems news, CFO Richard Buchholz sold 11,000 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $93.39, for a total value of $1,027,290.00. Following the completion of the sale, the chief financial officer directly owned 44,867 shares of the company’s stock, valued at $4,190,129.13. The trade was a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of Inspire Medical Systems

Hedge funds have recently added to or reduced their stakes in the business. Dragoneer Investment Group LLC increased its position in shares of Inspire Medical Systems by 81.4% in the second quarter. Dragoneer Investment Group LLC now owns 2,354,411 shares of the company’s stock valued at $305,532,000 after acquiring an additional 1,056,808 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Inspire Medical Systems by 214.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,112,925 shares of the company’s stock valued at $177,267,000 after acquiring an additional 759,090 shares during the period. Frontier Capital Management Co. LLC increased its position in shares of Inspire Medical Systems by 59.9% in the second quarter. Frontier Capital Management Co. LLC now owns 693,203 shares of the company’s stock valued at $89,957,000 after acquiring an additional 259,716 shares during the period. Man Group plc increased its position in shares of Inspire Medical Systems by 192.9% in the second quarter. Man Group plc now owns 380,298 shares of the company’s stock valued at $49,351,000 after acquiring an additional 250,456 shares during the period. Finally, Norges Bank purchased a new position in shares of Inspire Medical Systems in the second quarter valued at about $31,066,000. 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.