Inspire Medical Systems (NYSE:INSP) Price Target Lowered to $125.00 at Royal Bank Of Canada

Inspire Medical Systems (NYSE:INSP) had its target price lowered by Royal Bank Of Canada from $150.00 to $125.00 in a research report sent to investors on Tuesday morning, Marketbeat.com reports. Royal Bank Of Canada currently has an outperform rating on the stock.

A number of other research analysts have also issued reports on INSP. JPMorgan Chase & Co. decreased their target price on Inspire Medical Systems from $110.00 to $82.00 and set a “neutral” rating on the stock in a research report on Tuesday. Truist Financial restated a “hold” rating and issued a $84.00 price objective (down previously from $90.00) on shares of Inspire Medical Systems in a report on Tuesday. Lake Street Capital set a $150.00 target price on shares of Inspire Medical Systems and gave the stock a “buy” rating in a report on Tuesday, August 5th. Wall Street Zen lowered shares of Inspire Medical Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Zacks Research raised shares of Inspire Medical Systems from a “strong sell” rating to a “hold” rating in a report on Monday, October 27th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $133.88.

Inspire Medical Systems Price Performance

Shares of NYSE:INSP opened at $85.44 on Tuesday. Inspire Medical Systems has a 1 year low of $70.77 and a 1 year high of $216.01. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 58.12, a price-to-earnings-growth ratio of 2.47 and a beta of 1.14. The business’s 50 day moving average price is $80.24 and its 200-day moving average price is $112.43.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Monday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.53. Inspire Medical Systems had a return on equity of 9.40% and a net margin of 5.05%.The firm had revenue of $224.50 million for the quarter, compared to analyst estimates of $220.39 million. During the same quarter last year, the firm posted $0.60 EPS. The business’s revenue was up 10.5% on a year-over-year basis. On average, sell-side analysts expect that Inspire Medical Systems will post 2.16 earnings per share for the current year.

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

Insider Activity

In other Inspire Medical Systems news, CFO Richard Buchholz sold 11,000 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was 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. This trade represents a 19.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is owned by company insiders.

Institutional Trading of Inspire Medical Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its stake in shares of Inspire Medical Systems by 57.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 51,422 shares of the company’s stock worth $8,190,000 after acquiring an additional 18,857 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Inspire Medical Systems by 253.7% in the 1st quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock worth $91,000 after acquiring an additional 411 shares during the last quarter. Nordea Investment Management AB acquired a new stake in shares of Inspire Medical Systems in the 2nd quarter worth $1,634,000. New York State Teachers Retirement System increased its stake in shares of Inspire Medical Systems by 132.7% in the 1st quarter. New York State Teachers Retirement System now owns 21,390 shares of the company’s stock worth $3,407,000 after acquiring an additional 12,196 shares during the last quarter. Finally, Bayforest Capital Ltd increased its stake in shares of Inspire Medical Systems by 2,465.9% in the 1st quarter. Bayforest Capital Ltd now owns 5,491 shares of the company’s stock worth $875,000 after acquiring an additional 5,277 shares during the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

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.