Truist Financial Lowers Inspire Medical Systems (NYSE:INSP) Price Target to $64.00

Inspire Medical Systems (NYSE:INSP) had its price objective reduced by research analysts at Truist Financial from $70.00 to $64.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 13.32% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Wolfe Research cut Inspire Medical Systems from an “outperform” rating to a “peer perform” rating in a report on Friday, February 13th. Mizuho cut their price objective on Inspire Medical Systems from $85.00 to $70.00 and set an “outperform” rating for the company in a report on Monday. Piper Sandler cut their price objective on Inspire Medical Systems from $165.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $56.00 target price on shares of Inspire Medical Systems in a research note on Tuesday. Finally, Morgan Stanley set a $60.00 target price on Inspire Medical Systems in a research note on Wednesday, February 18th. Five investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $101.41.

Inspire Medical Systems Trading Down 0.3%

INSP opened at $56.48 on Wednesday. The stock has a 50-day moving average price of $58.29 and a 200-day moving average price of $81.06. Inspire Medical Systems has a 12-month low of $48.30 and a 12-month high of $163.35. The stock has a market capitalization of $1.63 billion, a P/E ratio of 11.34, a PEG ratio of 2.92 and a beta of 0.86.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in INSP. Royal Bank of Canada grew its holdings in shares of Inspire Medical Systems by 16.0% in the first quarter. Royal Bank of Canada now owns 32,769 shares of the company’s stock worth $5,220,000 after purchasing an additional 4,528 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Inspire Medical Systems during the 1st quarter valued at approximately $524,000. Goldman Sachs Group Inc. lifted its holdings in 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 buying an additional 18,857 shares during the period. Marshall Wace LLP lifted its holdings in Inspire Medical Systems by 3.8% in the 2nd quarter. Marshall Wace LLP now owns 15,905 shares of the company’s stock worth $2,064,000 after buying an additional 577 shares during the period. Finally, Jump Financial LLC purchased a new stake in Inspire Medical Systems in the 2nd quarter worth approximately $931,000. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Company Profile

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.