Stifel Nicolaus Cuts Inspire Medical Systems (NYSE:INSP) Price Target to $85.00

Inspire Medical Systems (NYSE:INSP) had its target price decreased by Stifel Nicolaus from $95.00 to $85.00 in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other research analysts have also recently commented on INSP. Weiss Ratings restated a “sell (d)” rating on shares of Inspire Medical Systems in a research note on Monday, December 29th. Wolfe Research cut Inspire Medical Systems from an “outperform” rating to a “peer perform” rating in a research note on Friday, February 13th. Wells Fargo & Company set a $70.00 price objective on Inspire Medical Systems and gave the stock an “equal weight” rating in a report on Thursday, February 12th. Piper Sandler lowered their price objective on Inspire Medical Systems from $165.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. Finally, UBS Group set a $67.00 target price on shares of Inspire Medical Systems in a report on Friday, February 13th. Five analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $104.24.

Inspire Medical Systems Price Performance

Shares of NYSE INSP opened at $63.01 on Thursday. Inspire Medical Systems has a 1 year low of $53.11 and a 1 year high of $189.49. The stock has a market capitalization of $1.80 billion, a P/E ratio of 12.65, a P/E/G ratio of 3.09 and a beta of 0.74. The company’s 50-day moving average is $77.16 and its 200 day moving average is $87.18.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $0.69 by $0.96. The business had revenue of $269.08 million during the quarter, compared to analyst estimates of $264.02 million. Inspire Medical Systems had a net margin of 15.95% and a return on equity of 10.96%. Inspire Medical Systems’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period last year, the business posted $1.15 earnings per share. Research analysts anticipate that Inspire Medical Systems will post 2.16 earnings per share for the current year.

Hedge Funds Weigh In On Inspire Medical Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INSP. Dragoneer Investment Group LLC boosted its stake in Inspire Medical Systems by 81.4% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,354,411 shares of the company’s stock valued at $305,532,000 after purchasing an additional 1,056,808 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Inspire Medical Systems during the fourth quarter valued at $203,929,000. Wasatch Advisors LP boosted its position in shares of Inspire Medical Systems by 7.2% during the second quarter. Wasatch Advisors LP now owns 1,634,395 shares of the company’s stock valued at $212,095,000 after buying an additional 110,288 shares during the last quarter. William Blair Investment Management LLC increased its holdings in Inspire Medical Systems by 68.7% in the 3rd quarter. William Blair Investment Management LLC now owns 1,297,573 shares of the company’s stock worth $96,280,000 after buying an additional 528,404 shares in the last quarter. Finally, Morgan Stanley raised its position in Inspire Medical Systems by 179.5% in the 4th quarter. Morgan Stanley now owns 1,259,762 shares of the company’s stock worth $116,188,000 after buying an additional 809,121 shares during the last quarter. 94.91% of the stock is owned by institutional investors.

About Inspire Medical Systems

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.