Royal Bank of Canada Cuts Inspire Medical Systems (NYSE:INSP) Price Target to $215.00

Inspire Medical Systems (NYSE:INSP) had its target price lowered by Royal Bank of Canada from $260.00 to $215.00 in a research report report published on Tuesday morning, MarketBeat Ratings reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other research firms have also weighed in on INSP. Stifel Nicolaus reduced their target price on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Robert W. Baird decreased their target price on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Morgan Stanley cut their price target on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Wells Fargo & Company decreased their price target on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. Finally, Truist Financial dropped their price objective on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $222.20.

Inspire Medical Systems Trading Down 2.1 %

Shares of INSP stock opened at $146.59 on Tuesday. The firm’s 50 day moving average is $168.13 and its 200 day moving average is $184.49. The stock has a market capitalization of $4.36 billion, a P/E ratio of 84.73, a PEG ratio of 2.86 and a beta of 1.39. Inspire Medical Systems has a 12 month low of $123.00 and a 12 month high of $257.40.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. On average, equities analysts predict that Inspire Medical Systems will post 2.16 EPS for the current year.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total value of $99,395.67. Following the completion of the sale, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Randy Ban sold 25,584 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the sale, the insider now owns 7,259 shares of the company’s stock, valued at approximately $1,332,026.50. The trade was a 77.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Inspire Medical Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its stake in Inspire Medical Systems by 178.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company’s stock worth $66,000 after purchasing an additional 229 shares during the period. Merit Financial Group LLC purchased a new position in shares of Inspire Medical Systems in the fourth quarter worth $313,000. Jennison Associates LLC purchased a new position in shares of Inspire Medical Systems in the fourth quarter worth $8,821,000. Janney Montgomery Scott LLC raised its holdings in Inspire Medical Systems by 248.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,806 shares of the company’s stock valued at $891,000 after buying an additional 3,427 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in Inspire Medical Systems during the 4th quarter valued at $292,000. Institutional investors own 94.91% of the company’s stock.

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.