Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have received an average rating of “Hold” from a group of nineteen analysts, according to data from Marketbeat.com. Among these ratings, one analyst has issued a sell rating, thirteen have designated a hold rating, and five have given a buy rating. The consensus twelve-month target price for the stock is currently set at approximately $104.82.
Analysts have provided various insights into Inspire Medical Systems over the past few months. On February 12, 2024, Wells Fargo & Company established a price target of $70.00, assigning an “equal weight” rating. On the same day, Piper Sandler lowered their target price from $165.00 to $85.00 while maintaining an “overweight” rating. Additionally, Robert W. Baird set a price target of $74.00 and issued a “neutral” rating. In contrast, Evercore reaffirmed an “outperform” rating, targeting $125.00.
Institutional Investment Activity
Recent movements among institutional investors show a significant interest in Inspire Medical Systems. In the fourth quarter, Wellington Management Group LLP acquired a new stake valued at approximately $203.93 million. Dragoneer Investment Group LLC increased its holdings by 81.4%, now owning over 2.35 million shares worth around $305.53 million after acquiring an additional 1.06 million shares.
Other notable transactions include M&T Bank Corp, which purchased a new stake valued at approximately $85.87 million, and Deerfield Management Company L.P., which raised its position by an impressive 648.4%. Following the latest round of acquisitions, institutional investors currently control 94.91% of Inspire Medical Systems’ stock.
Current Stock Performance and Earnings
As of February 12, 2024, shares of Inspire Medical Systems opened at $59.52, reflecting a decline of 0.4% for the day. The company’s stock has experienced a 52-week range, with a low of $53.11 and a high of $197.75. Inspire Medical Systems holds a market capitalization of approximately $1.70 billion, with a price-to-earnings ratio of 11.95.
The firm recently reported its quarterly earnings data, revealing an earnings per share (EPS) of $1.65, surpassing analysts’ expectations of $0.69 by $0.96. The revenue for the quarter amounted to $269.08 million, exceeding forecasts of $264.02 million and marking a year-over-year increase of 12.2%. The company’s net margin stands at 15.95%, with a return on equity of 10.96%. Analysts project that Inspire Medical Systems will achieve an EPS of $2.16 for the current fiscal year.
Inspire Medical Systems, Inc. focuses on developing innovative medical technology, particularly implantable neurostimulation devices aimed at treating obstructive sleep apnea (OSA). Its flagship product, the Inspire® system, provides targeted stimulation of the hypoglossal nerve to ensure airway patency during sleep, serving as an alternative for patients who cannot tolerate continuous positive airway pressure (CPAP) devices. The Inspire system consists of an implantable pulse generator, a sensing lead to monitor breathing patterns, and a stimulation lead that activates the hypoglossal nerve.
This comprehensive analysis underscores the mixed sentiment among analysts regarding Inspire Medical Systems while highlighting the growing institutional interest in the company’s stock.
