Inspire Medical Systems, Inc. (NYSE:INSP) Sees Large Increase in Short Interest

Inspire Medical Systems, Inc. (NYSE:INSP) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 2,080,000 shares, an increase of 11.2% from the March 15th total of 1,870,000 shares. Based on an average daily volume of 488,200 shares, the days-to-cover ratio is currently 4.3 days.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 3,060 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $182.01, for a total transaction of $556,950.60. Following the completion of the sale, the insider now directly owns 3,029 shares in the company, valued at approximately $551,308.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Inspire Medical Systems news, insider Randy Ban sold 3,060 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total value of $556,950.60. Following the completion of the sale, the insider now owns 3,029 shares in the company, valued at approximately $551,308.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jerry C. Griffin sold 554 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $198.05, for a total transaction of $109,719.70. Following the transaction, the director now owns 9,744 shares in the company, valued at $1,929,799.20. The disclosure for this sale can be found here. Insiders have sold a total of 61,371 shares of company stock valued at $12,213,828 in the last three months. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Inspire Medical Systems

Institutional investors and hedge funds have recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. acquired a new position in Inspire Medical Systems in the fourth quarter valued at approximately $27,000. Altshuler Shaham Ltd acquired a new position in shares of Inspire Medical Systems in the 4th quarter valued at $29,000. NBC Securities Inc. bought a new position in shares of Inspire Medical Systems in the 3rd quarter worth $34,000. Parkside Financial Bank & Trust bought a new position in shares of Inspire Medical Systems in the 1st quarter worth $37,000. Finally, Meeder Asset Management Inc. grew its stake in shares of Inspire Medical Systems by 7,850.0% during the fourth quarter. Meeder Asset Management Inc. now owns 159 shares of the company’s stock worth $40,000 after purchasing an additional 157 shares during the period. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Trading Down 0.7 %

NYSE:INSP opened at $221.63 on Wednesday. The stock has a market capitalization of $6.72 billion, a P/E ratio of -299.50 and a beta of 1.37. Inspire Medical Systems has a 1 year low of $123.27 and a 1 year high of $330.00. The firm has a 50 day moving average of $201.23 and a 200-day moving average of $182.94.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Tuesday, February 6th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.53. The company had revenue of $192.51 million during the quarter, compared to analyst estimates of $186.75 million. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The firm’s quarterly revenue was up 39.6% compared to the same quarter last year. During the same period last year, the company posted $0.10 earnings per share. As a group, analysts forecast that Inspire Medical Systems will post -0.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Truist Financial reaffirmed a “buy” rating and issued a $280.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Stifel Nicolaus reissued a “hold” rating and issued a $210.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, January 2nd. Morgan Stanley began coverage on shares of Inspire Medical Systems in a report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 price objective for the company. Jefferies Financial Group initiated coverage on shares of Inspire Medical Systems in a report on Friday, January 19th. They issued a “buy” rating and a $245.00 target price on the stock. Finally, Mizuho restated a “buy” rating and set a $250.00 price target on shares of Inspire Medical Systems in a report on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Inspire Medical Systems has an average rating of “Moderate Buy” and a consensus target price of $271.29.

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.