Inspire Medical Systems, Inc. (NYSE:INSP) Short Interest Up 16.0% in December

Inspire Medical Systems, Inc. (NYSE:INSP) was the target of a significant increase in short interest in 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 short-interest ratio is presently 4.8 days.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on INSP shares. Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and increased their price target for the stock from $220.00 to $255.00 in a research report on Wednesday, November 20th. Truist Financial reissued a “buy” rating and issued a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Leerink Partners increased their price objective on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus restated a “hold” rating and set a $200.00 price target (up previously from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $233.58.

Hedge Funds Weigh In On Inspire Medical Systems

Several large investors have recently modified their holdings of the business. AQR Capital Management LLC raised its holdings in Inspire Medical Systems by 152.7% in the 2nd quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock valued at $31,028,000 after buying an additional 140,090 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Inspire Medical Systems during the 3rd quarter worth approximately $1,929,000. Thrivent Financial for Lutherans increased its holdings in Inspire Medical Systems by 39.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 110,580 shares of the company’s stock valued at $23,337,000 after purchasing an additional 31,444 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Inspire Medical Systems in the second quarter valued at approximately $1,391,000. Finally, WINTON GROUP Ltd acquired a new position in Inspire Medical Systems during the second quarter worth $1,084,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Price Performance

INSP stock opened at $188.48 on Monday. The business has a 50 day simple moving average of $191.02 and a 200-day simple moving average of $181.00. The firm has a market capitalization of $5.65 billion, a PE ratio of 176.15 and a beta of 1.31. Inspire Medical Systems has a 1 year low of $123.00 and a 1 year high of $257.40.

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

About Inspire Medical Systems

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.