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

Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report) saw a significant decline in short interest in November. As of November 30th, there was short interest totalling 2,000,000 shares, a decline of 10.7% from the November 15th total of 2,240,000 shares. Based on an average daily volume of 572,700 shares, the days-to-cover ratio is currently 3.5 days.

Institutional Trading of Inspire Medical Systems

Several large investors have recently modified their holdings of INSP. SouthState Corp bought a new stake in shares of Inspire Medical Systems in the 2nd quarter worth approximately $27,000. True Wealth Design LLC purchased a new stake in Inspire Medical Systems in the third quarter worth $30,000. Farther Finance Advisors LLC increased its position in Inspire Medical Systems by 1,158.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company's stock valued at $32,000 after purchasing an additional 139 shares during the period. GAMMA Investing LLC raised its holdings in Inspire Medical Systems by 559.3% in the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company's stock worth $38,000 after purchasing an additional 151 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Inspire Medical Systems by 105.4% in the 2nd quarter. Quarry LP now owns 343 shares of the company's stock worth $46,000 after purchasing an additional 176 shares during the period. 94.91% of the stock is owned by institutional investors.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock traded up $1.88 during trading hours on Tuesday, reaching $190.71. The company had a trading volume of 561,663 shares, compared to its average volume of 585,330. Inspire Medical Systems has a 12-month low of $123.00 and a 12-month high of $257.40. The company has a 50-day moving average price of $193.93 and a 200 day moving average price of $179.07. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 176.38 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.54. The company had revenue of $203.20 million during the quarter, compared to analyst estimates of $197.59 million. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The firm's revenue was up 32.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.29) EPS. As a group, research analysts expect that Inspire Medical Systems will post 1.33 earnings per share for the current year.

Analysts Set New Price Targets

INSP has been the topic of a number of recent analyst reports. Bank of America raised shares of Inspire Medical Systems from a "neutral" rating to a "buy" rating and raised their target price for the company from $220.00 to $255.00 in a research note on Wednesday, November 20th. Truist Financial restated a "buy" rating and set a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Leerink Partners upped their target price on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the stock a "market perform" rating in a research report on Tuesday, September 10th. Robert W. Baird raised their price target on Inspire Medical Systems from $240.00 to $252.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company upped their price objective 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. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Inspire Medical Systems presently has an average rating of "Moderate Buy" and an average target price of $233.58.

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.