Stifel Nicolaus Has Lowered Expectations for Inspire Medical Systems (NYSE:INSP) Stock Price

Inspire Medical Systems (NYSE:INSP) had its price objective lowered by stock analysts at Stifel Nicolaus from $85.00 to $70.00 in a report issued on Friday, Marketbeat.com reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 29.56% from the company’s previous close.

INSP has been the topic of a number of other reports. Royal Bank Of Canada dropped their price target on Inspire Medical Systems from $90.00 to $68.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 12th. Wells Fargo & Company set a $70.00 price target on Inspire Medical Systems and gave the stock an “equal weight” rating in a research report on Thursday, February 12th. UBS Group set a $67.00 price target on Inspire Medical Systems in a research report on Friday, February 13th. Robert W. Baird set a $74.00 price target on Inspire Medical Systems and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of Inspire Medical Systems from $82.00 to $118.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $103.35.

Inspire Medical Systems Stock Performance

NYSE INSP opened at $54.03 on Friday. Inspire Medical Systems has a one year low of $48.30 and a one year high of $163.35. The company has a 50-day simple moving average of $59.38 and a 200-day simple moving average of $81.68. The firm has a market capitalization of $1.56 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 2.65 and a beta of 0.86.

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

Institutional Trading of Inspire Medical Systems

Hedge funds have recently added to or reduced their stakes in the business. Manning & Napier Advisors LLC bought a new stake in Inspire Medical Systems during the 3rd quarter valued at $32,000. CWM LLC raised its stake in Inspire Medical Systems by 216.1% during the 4th quarter. CWM LLC now owns 354 shares of the company’s stock valued at $33,000 after acquiring an additional 242 shares in the last quarter. Havemeyer Place LP bought a new stake in Inspire Medical Systems during the 4th quarter valued at $39,000. V Square Quantitative Management LLC bought a new stake in Inspire Medical Systems during the 4th quarter valued at $40,000. Finally, Smartleaf Asset Management LLC raised its stake in Inspire Medical Systems by 84.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 449 shares of the company’s stock valued at $42,000 after acquiring an additional 205 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

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.