Inspire Medical Systems, Inc. (NYSE:INSP) Short Interest Up 5.9% in May

Inspire Medical Systems, Inc. (NYSE:INSPGet Free Report) was the recipient of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 1,960,000 shares, a growth of 5.9% from the May 15th total of 1,850,000 shares. Based on an average trading volume of 591,600 shares, the short-interest ratio is presently 3.3 days.

Inspire Medical Systems Stock Down 0.8 %

Shares of NYSE:INSP traded down $1.29 during trading on Wednesday, hitting $162.38. The stock had a trading volume of 442,465 shares, compared to its average volume of 442,288. Inspire Medical Systems has a 12 month low of $123.27 and a 12 month high of $330.00. The company has a market capitalization of $4.82 billion, a PE ratio of -295.62 and a beta of 1.33. The firm’s fifty day moving average is $190.81 and its 200 day moving average is $193.47.

Inspire Medical Systems (NYSE:INSPGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.29. The business had revenue of $164.01 million for the quarter, compared to analysts’ expectations of $161.41 million. Inspire Medical Systems had a negative net margin of 2.38% and a negative return on equity of 2.82%. The business’s revenue was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.53) earnings per share. Equities research analysts expect that Inspire Medical Systems will post 0.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

INSP has been the topic of a number of recent research reports. Truist Financial reaffirmed a “buy” rating and set a $280.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Mizuho restated a “buy” rating and set a $250.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. Morgan Stanley started coverage on shares of Inspire Medical Systems in a research report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 price objective on the stock. Royal Bank of Canada began coverage on Inspire Medical Systems in a report on Friday, April 19th. They set an “outperform” rating and a $285.00 price objective on the stock. Finally, Piper Sandler upped their price target on shares of Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $253.87.

Get Our Latest Stock Report on INSP

Insider Buying and Selling at Inspire Medical Systems

In other news, Director Jerry C. Griffin sold 554 shares of Inspire Medical Systems stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $197.81, for a total transaction of $109,586.74. Following the completion of the transaction, the director now directly owns 10,636 shares in the company, valued at $2,103,907.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Inspire Medical Systems news, CFO Richard Buchholz sold 15,000 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total value of $3,450,450.00. Following the transaction, the chief financial officer now owns 28,271 shares of the company’s stock, valued at $6,503,178.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jerry C. Griffin sold 554 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $197.81, for a total transaction of $109,586.74. Following the completion of the transaction, the director now owns 10,636 shares in the company, valued at $2,103,907.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,973 shares of company stock valued at $12,623,317. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Inspire Medical Systems

Several institutional investors have recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new position in shares of Inspire Medical Systems during the fourth quarter valued at $27,000. Headinvest LLC bought a new position in shares of Inspire Medical Systems in the third quarter worth approximately $48,000. Principal Securities Inc. purchased a new stake in Inspire Medical Systems in the 4th quarter worth $54,000. International Assets Investment Management LLC purchased a new position in Inspire Medical Systems in the 4th quarter worth approximately $166,000. Finally, RiverPark Advisors LLC boosted its holdings in shares of Inspire Medical Systems by 360.1% during the 1st quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock valued at $166,000 after purchasing an additional 605 shares during the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

About Inspire Medical Systems

(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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