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

Inspire Medical Systems (NYSE:INSP) had its price objective cut by stock analysts at Royal Bank of Canada from $260.00 to $215.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 45.51% from the stock’s previous close.

Several other research firms also recently weighed in on INSP. Stifel Nicolaus lowered 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. Truist Financial cut 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. Robert W. Baird reduced their target price on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Morgan Stanley lowered their price target on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Finally, Wells Fargo & Company reduced their price objective on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Inspire Medical Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.20.

Inspire Medical Systems Stock Down 1.3 %

NYSE:INSP traded down $1.94 on Tuesday, hitting $147.76. The stock had a trading volume of 26,217 shares, compared to its average volume of 588,954. The business’s 50-day simple moving average is $168.82 and its two-hundred day simple moving average is $184.75. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 85.42, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. Inspire Medical Systems has a 52-week low of $123.00 and a 52-week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last announced its 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 net margin of 6.67% and a return on equity of 8.19%. As a group, equities research analysts anticipate that Inspire Medical Systems will post 2.16 EPS for the current year.

Insider Activity

In related news, CTO John Rondoni sold 583 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction 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 approximately $1,777,187.76. This trade represents a 5.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Randy Ban sold 25,584 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Inspire Medical Systems

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

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.