Inspire Medical Systems, Inc. (NYSE:INSP) Short Interest Up 11.2% in March

Inspire Medical Systems, Inc. (NYSE:INSP) saw a large increase in short interest during 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 trading volume, of 488,200 shares, the short-interest ratio is currently 4.3 days.

Wall Street Analyst Weigh In

INSP has been the topic of several research reports. Jefferies Financial Group assumed coverage on Inspire Medical Systems in a research note on Friday, January 19th. They set a “buy” rating and a $245.00 price objective on the stock. Morgan Stanley started coverage on Inspire Medical Systems in a research report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 price target on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $210.00 price objective on shares of Inspire Medical Systems in a report on Tuesday, January 2nd. Truist Financial reissued a “buy” rating and set a $280.00 target price on shares of Inspire Medical Systems in a report on Wednesday, March 20th. Finally, KeyCorp assumed coverage on shares of Inspire Medical Systems in a report on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $271.29.

Inspire Medical Systems Trading Down 0.2 %

Shares of NYSE:INSP opened at $231.74 on Monday. The firm’s 50 day moving average is $201.18 and its two-hundred day moving average is $182.62. The firm has a market capitalization of $7.02 billion, a P/E ratio of -313.16 and a beta of 1.37. Inspire Medical Systems has a 52 week low of $123.27 and a 52 week high of $330.00.

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

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 12,230 shares of Inspire Medical Systems stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $185.37, for a total transaction of $2,267,075.10. Following the sale, the insider now directly owns 3,029 shares in the company, valued at approximately $561,485.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jerry C. Griffin sold 554 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.53, for a total value of $107,215.62. Following the completion of the sale, the director now owns 10,190 shares of the company’s stock, valued at approximately $1,972,070.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Randy Ban sold 12,230 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $185.37, for a total transaction of $2,267,075.10. Following the completion of the sale, the insider now owns 3,029 shares in the company, valued at approximately $561,485.73. The disclosure for this sale can be found here. Insiders sold a total of 61,371 shares of company stock valued at $12,213,828 in the last ninety days. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Inspire Medical Systems

Several institutional investors have recently bought and sold shares of INSP. Altshuler Shaham Ltd acquired a new stake in Inspire Medical Systems in the fourth quarter worth approximately $29,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Inspire Medical Systems in the fourth quarter valued at $27,000. Parkside Financial Bank & Trust bought a new position in Inspire Medical Systems during the first quarter valued at about $37,000. Meeder Asset Management Inc. grew its holdings in 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 acquiring an additional 157 shares during the period. Finally, NBC Securities Inc. bought a new stake in Inspire Medical Systems in the third quarter worth about $34,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

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.