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

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

Inspire Medical Systems Stock Down 0.2 %

INSP opened at $231.74 on Monday. Inspire Medical Systems has a 52 week low of $123.27 and a 52 week high of $330.00. The business’s 50 day moving average is $201.18 and its two-hundred day moving average is $182.62. The firm has a market cap of $7.02 billion, a price-to-earnings ratio of -313.16 and a beta of 1.37.

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

Analyst Ratings Changes

A number of analysts have issued reports on INSP shares. Mizuho reiterated a “buy” rating and set a $250.00 price target on shares of Inspire Medical Systems in a research note on Wednesday, March 27th. Morgan Stanley initiated coverage on shares of Inspire Medical Systems in a report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of Inspire Medical Systems in a research note on Friday, January 19th. They issued a “buy” rating and a $245.00 price target for the company. KeyCorp started coverage on Inspire Medical Systems in a research report on Tuesday, February 6th. They set an “overweight” rating and a $278.00 price objective on the stock. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $210.00 target price on shares of Inspire Medical Systems in a report on Tuesday, January 2nd. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and an average target price of $271.29.

Insiders Place Their Bets

In other Inspire Medical Systems news, insider Randy Ban sold 3,060 shares of Inspire Medical Systems stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total transaction of $556,950.60. Following the transaction, the insider now directly owns 3,029 shares of the company’s stock, valued at $551,308.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Inspire Medical Systems news, insider Randy Ban sold 3,060 shares of the firm’s stock in a transaction on 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 owns 3,029 shares of the company’s stock, valued at $551,308.29. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy P. Herbert sold 40,000 shares of Inspire Medical Systems stock in a transaction on Monday, April 1st. The shares were sold at an average price of $205.09, for a total value of $8,203,600.00. Following the completion of the sale, the chief executive officer now owns 63,658 shares in the company, valued at approximately $13,055,619.22. The disclosure for this sale can be found here. Insiders sold 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 insiders.

Hedge Funds Weigh In On Inspire Medical Systems

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Inspire Medical Systems by 4.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,863,693 shares of the company’s stock worth $507,934,000 after buying an additional 117,888 shares in the last quarter. FMR LLC grew its holdings in Inspire Medical Systems by 130.1% during the third quarter. FMR LLC now owns 2,471,464 shares of the company’s stock worth $490,437,000 after acquiring an additional 1,397,510 shares during the period. BlackRock Inc. raised its position in Inspire Medical Systems by 6.9% in the first quarter. BlackRock Inc. now owns 2,282,100 shares of the company’s stock worth $534,171,000 after acquiring an additional 146,344 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Inspire Medical Systems by 0.9% in the second quarter. Macquarie Group Ltd. now owns 1,540,495 shares of the company’s stock valued at $281,402,000 after acquiring an additional 14,017 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Inspire Medical Systems by 46.4% during the 4th quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock worth $290,959,000 after purchasing an additional 453,294 shares in the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

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.