Shares of Inspire Medical Systems, Inc. (NYSE: INSP) have received an average rating of “Hold” from analysts covering the company, according to MarketBeat.com. Among the nineteen ratings firms, one has issued a sell rating, thirteen have assigned a hold rating, and five have given a buy rating. The average twelve-month target price stands at $104.82, with analysts expressing varied opinions on the company’s future performance.
Multiple reports have emerged from research analysts regarding Inspire Medical Systems. On February 12, Wells Fargo & Company set a price objective of $70.00 while assigning an “equal weight” rating. That same day, Robert W. Baird established a price target of $74.00 and designated the stock as “neutral.” Additionally, Piper Sandler significantly reduced its target price from $165.00 to $85.00, while maintaining an “overweight” rating. In contrast, Evercore restated an “outperform” rating with a higher price objective of $125.00.
Institutional Investment Activity
Recent trading activity indicates a notable shift among institutional investors concerning Inspire Medical Systems. Wellington Management Group LLP acquired a new stake in the company during the fourth quarter, valued at approximately $203.93 million. Meanwhile, Dragoneer Investment Group LLC increased its stake by 81.4%, holding 2,354,411 shares valued at $305.53 million after purchasing an additional 1,056,808 shares.
Other significant movements include M&T Bank Corp, which bought a new stake worth about $85.87 million, and Deerfield Management Company L.P., which raised its position by 648.4%, owning 1,047,694 shares valued at $77.74 million. Additionally, Morgan Stanley increased its holdings by 179.5%, now owning 1,259,762 shares valued at $116.19 million. Currently, institutional investors and hedge funds own approximately 94.91% of Inspire Medical Systems’ stock.
Current Stock Performance
As of Wednesday, shares of INSP opened at $59.52, reflecting a decline of 0.4%. The company has experienced volatility, with a 52-week low of $53.11 and a high of $197.75. Inspire Medical Systems has a market capitalization of $1.70 billion, a price-to-earnings ratio of 11.95, and a price-to-earnings-growth ratio of 2.95. The stock’s 50-day moving average is $85.07, while the 200-day moving average stands at $88.62.
In its most recent quarterly earnings report, released on February 11, 2024, Inspire Medical Systems reported earnings per share of $1.65, significantly surpassing analysts’ expectations of $0.69 by $0.96. The company achieved a net margin of 15.95% and a return on equity of 10.96%. Revenue for the quarter amounted to $269.08 million, exceeding the anticipated $264.02 million. This represents a year-over-year revenue increase of 12.2%.
Looking ahead, analysts predict that Inspire Medical Systems will post earnings per share of $2.16 for the current year, indicating a positive outlook for the company as it continues to advance in the medical technology sector.
Founded to provide innovative solutions for obstructive sleep apnea, Inspire Medical Systems specializes in implantable neurostimulation devices. Its flagship product, the Inspire® system, offers targeted stimulation of the hypoglossal nerve, maintaining airway patency during sleep. This therapy serves as an alternative for patients who struggle with traditional continuous positive airway pressure (CPAP) devices.
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