Inspire Medical Systems’ (INSP) Overweight Rating Reaffirmed at KeyCorp

KeyCorp restated their overweight rating on shares of Inspire Medical Systems (NYSE:INSP) in a report issued on Friday,Benzinga reports. The brokerage currently has a $234.00 price target on the stock, down from their prior price target of $236.00.

INSP has been the topic of a number of other reports. Wells Fargo & Company lifted their price target on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $220.00 to $255.00 in a research report on Wednesday, November 20th. Truist Financial restated a “buy” rating and issued a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Stifel Nicolaus dropped their price target on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Finally, Robert W. Baird upped their price target on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.45.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock opened at $188.77 on Friday. The stock has a market capitalization of $5.66 billion, a PE ratio of 176.42 and a beta of 1.32. Inspire Medical Systems has a 52-week low of $123.00 and a 52-week high of $257.40. The company has a 50-day simple moving average of $189.32 and a two-hundred day simple moving average of $186.81.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The firm had revenue of $203.20 million during the quarter, compared to analyst estimates of $197.59 million. During the same period in the prior year, the business posted ($0.29) EPS. Inspire Medical Systems’s revenue was up 32.6% on a year-over-year basis. As a group, equities research analysts forecast that Inspire Medical Systems will post 1.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Inspire Medical Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INSP. Wasatch Advisors LP raised its stake in Inspire Medical Systems by 1.6% during the third quarter. Wasatch Advisors LP now owns 1,323,470 shares of the company’s stock worth $279,318,000 after purchasing an additional 20,481 shares during the period. State Street Corp lifted its position in Inspire Medical Systems by 78.0% in the third quarter. State Street Corp now owns 1,049,784 shares of the company’s stock valued at $221,557,000 after buying an additional 459,990 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Inspire Medical Systems by 5.8% in the 3rd quarter. Janus Henderson Group PLC now owns 502,609 shares of the company’s stock worth $106,075,000 after acquiring an additional 27,374 shares during the last quarter. Geode Capital Management LLC lifted its stake in Inspire Medical Systems by 0.7% during the third quarter. Geode Capital Management LLC now owns 483,654 shares of the company’s stock worth $102,102,000 after purchasing an additional 3,128 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of Inspire Medical Systems by 954.4% during the third quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company’s stock worth $67,402,000 after buying an additional 289,075 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.

About Inspire Medical Systems

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.