Inspire Medical Systems, Inc. (NYSE:INSP) Short Interest Update

Inspire Medical Systems, Inc. (NYSE:INSPGet Free Report) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 1,370,000 shares, an increase of 8.7% from the December 31st total of 1,260,000 shares. Based on an average daily volume of 719,800 shares, the days-to-cover ratio is presently 1.9 days.

Inspire Medical Systems Price Performance

Shares of Inspire Medical Systems stock opened at $210.87 on Thursday. The business has a 50-day moving average of $183.20 and a 200-day moving average of $198.06. The company has a market capitalization of $6.22 billion, a PE ratio of -186.61 and a beta of 1.48. Inspire Medical Systems has a 1-year low of $123.27 and a 1-year high of $330.00.

Inspire Medical Systems (NYSE:INSPGet Free Report) last announced its earnings results on Tuesday, November 7th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.24. The company had revenue of $153.30 million during the quarter, compared to the consensus estimate of $154.49 million. Inspire Medical Systems had a negative return on equity of 6.32% and a negative net margin of 5.75%. The company’s revenue was up 40.4% on a year-over-year basis. During the same period last year, the firm earned ($0.60) earnings per share. On average, equities analysts expect that Inspire Medical Systems will post -1.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on INSP shares. Leerink Partnrs reissued a “market perform” rating on shares of Inspire Medical Systems in a research note on Monday, October 16th. Jefferies Financial Group assumed coverage on Inspire Medical Systems in a research report on Friday, January 19th. They issued a “buy” rating and a $245.00 target price on the stock. SVB Leerink assumed coverage on Inspire Medical Systems in a research report on Monday, October 16th. They issued a “market perform” rating and a $159.00 target price on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $210.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, January 2nd. Finally, TheStreet lowered Inspire Medical Systems from a “c-” rating to a “d+” rating in a research report on Thursday, October 26th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $273.08.

Read Our Latest Analysis on INSP

Hedge Funds Weigh In On Inspire Medical Systems

A number of hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE boosted its stake in Inspire Medical Systems by 11.3% during the 1st quarter. US Bancorp DE now owns 2,284 shares of the company’s stock valued at $586,000 after purchasing an additional 231 shares during the period. HighTower Advisors LLC bought a new position in Inspire Medical Systems in the 1st quarter worth approximately $452,000. Private Advisor Group LLC acquired a new stake in Inspire Medical Systems in the 1st quarter valued at approximately $203,000. PNC Financial Services Group Inc. raised its stake in Inspire Medical Systems by 668.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,422 shares of the company’s stock valued at $364,000 after acquiring an additional 1,237 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in Inspire Medical Systems by 4.0% during the 1st quarter. Bank of Montreal Can now owns 14,694 shares of the company’s stock valued at $3,838,000 after acquiring an additional 563 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Company Profile

(Get Free Report)

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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