Inspire Medical Systems (NYSE:INSP) Now Covered by Analysts at Robert W. Baird

Robert W. Baird began coverage on shares of Inspire Medical Systems (NYSE:INSP – Free Report) in a research note published on Tuesday, FlyOnTheWall reports. The firm issued an outperform rating on the stock.

Several other brokerages have also recently weighed in on INSP. Truist Financial upped their target price on Inspire Medical Systems from $335.00 to $360.00 in a report on Thursday, May 18th. KeyCorp upped their target price on Inspire Medical Systems from $321.00 to $335.00 in a report on Thursday, June 8th. Stifel Nicolaus upped their target price on Inspire Medical Systems from $300.00 to $350.00 in a report on Thursday, July 13th. Bank of America upped their target price on Inspire Medical Systems from $310.00 to $355.00 in a report on Tuesday, July 4th. Finally, Piper Sandler upped their target price on Inspire Medical Systems from $340.00 to $360.00 in a report on Tuesday. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, Inspire Medical Systems has an average rating of Buy and an average target price of $335.70.

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Inspire Medical Systems Stock Down 1.2 %

INSP opened at $322.03 on Tuesday. The business has a fifty day moving average of $308.09 and a 200 day moving average of $273.33. Inspire Medical Systems has a 52-week low of $159.62 and a 52-week high of $330.00. The stock has a market cap of $9.34 billion, a P/E ratio of -206.43 and a beta of 1.44.

Inspire Medical Systems (NYSE:INSP – Get Free Report) last posted its quarterly earnings data on Tuesday, May 2nd. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.17. Inspire Medical Systems had a negative return on equity of 10.27% and a negative net margin of 9.35%. The company had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $120.06 million. During the same quarter in the previous year, the business earned ($0.61) EPS. Inspire Medical Systems’s revenue was up 84.3% compared to the same quarter last year. Equities analysts anticipate that Inspire Medical Systems will post -1.18 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Jerry C. Griffin sold 529 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $280.00, for a total value of $148,120.00. Following the transaction, the director now directly owns 3,200 shares of the company’s stock, valued at $896,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Steven Jandrich sold 8,000 shares of the company’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $271.02, for a total value of $2,168,160.00. Following the sale, the vice president now owns 4,371 shares in the company, valued at $1,184,628.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jerry C. Griffin sold 529 shares of the company’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $280.00, for a total value of $148,120.00. Following the completion of the sale, the director now owns 3,200 shares in the company, valued at approximately $896,000. The disclosure for this sale can be found here. Insiders sold 19,013 shares of company stock worth $5,426,250 in the last three months. 4.50% of the stock is owned by insiders.

Institutional Trading of Inspire Medical Systems

A number of hedge funds have recently modified their holdings of INSP. James Investment Research Inc. purchased a new stake in shares of Inspire Medical Systems in the first quarter worth about $26,000. American National Bank purchased a new position in Inspire Medical Systems during the first quarter worth approximately $29,000. Altshuler Shaham Ltd purchased a new position in Inspire Medical Systems during the fourth quarter worth approximately $29,000. Parkside Financial Bank & Trust purchased a new position in Inspire Medical Systems during the first quarter worth approximately $37,000. Finally, Meeder Asset Management Inc. boosted its position in Inspire Medical Systems by 7,850.0% during the fourth quarter. Meeder Asset Management Inc. now owns 159 shares of the company’s stock worth $40,000 after purchasing an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 98.05% of the company’s stock.

Inspire Medical Systems Company Profile

(Get Free Report)

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.

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