Inspire Medical Systems, Inc. (NYSE:INSP) Short Interest Update

Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 2,320,000 shares, an increase of 16.0% from the November 30th total of 2,000,000 shares. Based on an average trading volume of 482,400 shares, the days-to-cover ratio is currently 4.8 days.

Analyst Ratings Changes

Several research firms recently weighed in on INSP. Leerink Partners lifted their price objective on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the stock a "market perform" rating in a research note on Tuesday, September 10th. Bank of America raised shares of Inspire Medical Systems from a "neutral" rating to a "buy" rating and lifted their price target for the stock 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 objective (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Wells Fargo & Company lifted their target price on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 5th. Finally, Stifel Nicolaus restated a "hold" rating and issued a $200.00 price target (up from $170.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Inspire Medical Systems has a consensus rating of "Moderate Buy" and a consensus target price of $233.58.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock traded down $3.83 during midday trading on Monday, reaching $184.65. The stock had a trading volume of 350,339 shares, compared to its average volume of 583,260. The stock has a market capitalization of $5.53 billion, a P/E ratio of 172.57 and a beta of 1.31. The firm's fifty day simple moving average is $190.65 and its 200-day simple moving average is $181.12. Inspire Medical Systems has a 1-year low of $123.00 and a 1-year high of $257.40.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.54. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The company had revenue of $203.20 million for the quarter, compared to the consensus estimate of $197.59 million. During the same period last year, the company earned ($0.29) earnings per share. The firm's revenue was up 32.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Inspire Medical Systems will post 1.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Inspire Medical Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its position in shares of Inspire Medical Systems by 3,812.6% in the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company's stock valued at $29,777,000 after acquiring an additional 137,483 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of Inspire Medical Systems during the 3rd quarter worth approximately $1,208,000. Synovus Financial Corp raised its stake in shares of Inspire Medical Systems by 7.5% during the 3rd quarter. Synovus Financial Corp now owns 3,502 shares of the company's stock worth $739,000 after purchasing an additional 244 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of Inspire Medical Systems during the 3rd quarter worth approximately $320,000. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Inspire Medical Systems by 20.1% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 49,178 shares of the company's stock valued at $10,379,000 after buying an additional 8,240 shares during the last quarter. 94.91% of the stock is owned by institutional investors.

Inspire Medical Systems Company Profile

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.