Short Interest in Inspire Medical Systems, Inc. (NYSE:INSP) Decreases By 10.7%

Inspire Medical Systems, Inc. (NYSE:INSP) was the recipient of 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 trading volume of 572,700 shares, the short-interest ratio is currently 3.5 days.

Analysts Set New Price Targets

Several brokerages have recently commented on INSP. Leerink Partners raised their price target on Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research note on Tuesday, September 10th. Robert W. Baird boosted their price target on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Piper Sandler reiterated an “overweight” rating and set a $260.00 price objective (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Stifel Nicolaus reissued a “hold” rating and set a $200.00 price objective (up from $170.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Finally, Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $220.00 to $255.00 in a report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $233.58.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INSP. CWM LLC increased its holdings in Inspire Medical Systems by 101.6% in the 2nd quarter. CWM LLC now owns 1,246 shares of the company’s stock worth $167,000 after buying an additional 628 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Inspire Medical Systems by 114.2% in the 2nd quarter. SG Americas Securities LLC now owns 6,228 shares of the company’s stock valued at $833,000 after buying an additional 3,321 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Inspire Medical Systems by 118.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,079 shares of the company’s stock worth $412,000 after buying an additional 1,670 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Inspire Medical Systems in the second quarter worth about $2,850,000. Finally, Pallas Capital Advisors LLC purchased a new position in Inspire Medical Systems during the second quarter valued at approximately $404,000. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Inspire Medical Systems Trading Up 1.0 %

Shares of INSP stock traded up $1.88 during trading hours on Tuesday, reaching $190.71. 561,663 shares of the company’s stock were exchanged, compared to its average volume of 585,332. Inspire Medical Systems has a 1 year low of $123.00 and a 1 year high of $257.40. The stock has a market cap of $5.72 billion, a PE ratio of 178.23 and a beta of 1.31. The stock’s fifty day moving average price is $193.62 and its two-hundred day moving average price is $179.30.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results 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. The business had revenue of $203.20 million for 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%. Inspire Medical Systems’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.29) EPS. On average, equities analysts expect that Inspire Medical Systems will post 1.33 EPS for the current fiscal year.

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.