By otakuyassine3@gmail.com 
Inspire Medical Systems, Inc. (NYSE:INSP – Get Free Report) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 2,320,000 shares, a growth 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 presently 4.8 days.
Institutional Investors Weigh In On Inspire Medical Systems
Several large investors have recently bought and sold shares of the business. Van ECK Associates Corp increased its holdings in shares of Inspire Medical Systems by 7.5% in the 2nd quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock worth $138,000 after buying an additional 72 shares during the last quarter. Amalgamated Bank increased its stake in Inspire Medical Systems by 4.1% during the second quarter. Amalgamated Bank now owns 2,005 shares of the company’s stock worth $268,000 after acquiring an additional 79 shares during the last quarter. Signaturefd LLC increased its stake in Inspire Medical Systems by 45.9% during the third quarter. Signaturefd LLC now owns 270 shares of the company’s stock worth $57,000 after acquiring an additional 85 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Inspire Medical Systems by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 21,193 shares of the company’s stock valued at $2,836,000 after purchasing an additional 92 shares during the period. Finally, Quarry LP lifted its stake in shares of Inspire Medical Systems by 30.9% in the 3rd quarter. Quarry LP now owns 449 shares of the company’s stock valued at $95,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.
Inspire Medical Systems Stock Performance
Shares of NYSE INSP opened at $185.38 on Wednesday. The company has a market cap of $5.56 billion, a P/E ratio of 173.25 and a beta of 1.31. Inspire Medical Systems has a 52-week low of $123.00 and a 52-week high of $257.40. The firm’s fifty day moving average is $190.41 and its two-hundred day moving average is $181.25.
Inspire Medical Systems (NYSE:INSP – Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.54. The company had revenue of $203.20 million for the quarter, compared to the consensus estimate of $197.59 million. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The firm’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.29) earnings per share. As a group, analysts forecast that Inspire Medical Systems will post 1.33 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several analysts have issued reports on INSP shares. Stifel Nicolaus reissued a “hold” rating and set a $200.00 price target (up previously from $170.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $220.00 to $255.00 in a research note on Wednesday, November 20th. Piper Sandler restated an “overweight” rating and set a $260.00 target price (up previously from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Leerink Partners upped their price target 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. Finally, Truist Financial reissued a “buy” rating and issued a $240.00 price objective (up from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $233.58.
Read Our Latest Report on Inspire Medical Systems
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.
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