Analysts Set Inspire Medical Systems, Inc. (NYSE:INSP) Price Target at $104.24

Inspire Medical Systems, Inc. (NYSE:INSP) has been given an average rating of “Hold” by the nineteen research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $104.2353.

INSP has been the subject of a number of recent research reports. Mizuho cut their price target on Inspire Medical Systems from $130.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, February 12th. Wells Fargo & Company set a $70.00 price objective on shares of Inspire Medical Systems and gave the stock an “equal weight” rating in a research note on Thursday, February 12th. Oppenheimer downgraded shares of Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, January 22nd. JPMorgan Chase & Co. boosted their target price on shares of Inspire Medical Systems from $82.00 to $118.00 and gave the company a “neutral” rating in a research report on Tuesday, December 16th. Finally, UBS Group set a $67.00 target price on shares of Inspire Medical Systems in a report on Friday, February 13th.

Inspire Medical Systems Price Performance

NYSE INSP opened at $55.08 on Friday. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 2.91 and a beta of 0.74. Inspire Medical Systems has a 1-year low of $53.11 and a 1-year high of $172.95. The business’s fifty day moving average price is $72.30 and its 200-day moving average price is $85.46.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $1.65 EPS for the quarter, topping the consensus estimate 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 company had revenue of $269.08 million during the quarter, compared to analyst estimates of $264.02 million. During the same quarter in the previous year, the company posted $1.15 earnings per share. Inspire Medical Systems’s revenue was up 12.2% compared to the same quarter last year. Equities research analysts anticipate that Inspire Medical Systems will post 2.16 EPS for the current year.

Institutional Investors Weigh In On Inspire Medical Systems

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dragoneer Investment Group LLC lifted its position in Inspire Medical Systems by 81.4% during the second quarter. Dragoneer Investment Group LLC now owns 2,354,411 shares of the company’s stock valued at $305,532,000 after purchasing an additional 1,056,808 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Inspire Medical Systems in the fourth quarter worth about $203,929,000. Wasatch Advisors LP increased its position in Inspire Medical Systems by 7.2% in the second quarter. Wasatch Advisors LP now owns 1,634,395 shares of the company’s stock worth $212,095,000 after buying an additional 110,288 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of Inspire Medical Systems by 68.7% in the third quarter. William Blair Investment Management LLC now owns 1,297,573 shares of the company’s stock worth $96,280,000 after buying an additional 528,404 shares during the period. Finally, Morgan Stanley raised its stake in shares of Inspire Medical Systems by 179.5% in the fourth quarter. Morgan Stanley now owns 1,259,762 shares of the company’s stock worth $116,188,000 after buying an additional 809,121 shares during the period. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

About Inspire Medical Systems

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.