Inspire Medical Systems (NYSE:INSP) Price Target Cut to $195.00 by Analysts at Wells Fargo & Company

Inspire Medical Systems (NYSE:INSP) had its price target reduced by equities researchers at Wells Fargo & Company from $198.00 to $195.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 7.76% from the company’s previous close.

Other research analysts have also issued reports about the stock. KeyCorp reaffirmed an “overweight” rating and issued a $234.00 price target (down from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $220.00 to $255.00 in a research note on Wednesday, November 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Piper Sandler reduced their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Stifel Nicolaus dropped their target price on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $229.64.

Inspire Medical Systems Stock Performance

Shares of INSP stock opened at $180.96 on Tuesday. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of 169.12 and a beta of 1.32. Inspire Medical Systems has a one year low of $123.00 and a one year high of $257.40. The company’s 50-day simple moving average is $189.72 and its 200-day simple moving average is $190.66.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. As a group, research analysts forecast that Inspire Medical Systems will post 1.33 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in INSP. First Horizon Advisors Inc. boosted its stake in Inspire Medical Systems by 885.7% during the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares in the last quarter. True Wealth Design LLC bought a new position in Inspire Medical Systems during the third quarter valued at about $30,000. Farther Finance Advisors LLC grew its holdings in Inspire Medical Systems by 1,158.3% during the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock worth $32,000 after acquiring an additional 139 shares during the period. Harbour Investments Inc. raised its position in Inspire Medical Systems by 101.0% in the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock worth $37,000 after acquiring an additional 99 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Inspire Medical Systems by 559.3% in the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after acquiring an additional 151 shares during the last quarter. 94.91% of the stock is currently 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.