INSP Stock Summary and Trading Ideas (Inspire Medical Systems | NYSE:INSP)

Inspire Medical Systems Inc operates as a medical technology company. It focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA). It offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea. The firm has operating footprints in the United States and Europe wherein, it generates a majority of its revenue from the United States.

Inspire Medical Systems trades on the NYSE stock market under the symbol INSP.

As of April 19, 2024, INSP stock price declined to $229.22 with 539,791 million shares trading.

INSP has a beta of 1.73, meaning it tends to be more sensitive to market movements. INSP has a correlation of 0.12 to the broad based SPY ETF.

INSP has a market cap of $6.94 billion. This is considered a Mid Cap stock.

Last quarter Inspire Medical Systems reported $193 million in Revenue and $.49 earnings per share. This beat revenue expectation by $5 million and exceeded earnings estimates by $.59.

In the last 3 years, INSP stock traded as high as $330.00 and as low as $123.27.

The top ETF exchange traded funds that INSP belongs to (by Net Assets): VTI, VB, VXF, VBK, IHI.

INSP stock has underperformed the market in the last year with a return of -13.0%, while SPY returned +21.2%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in INSP shares. However, INSP has outperformed the market in the last 3 month and 2 week periods, returning +14.1% and +2.8%, while SPY returned +3.0% and -4.5%, respectively. This indicates INSP has been having a stronger performance recently.

INSP support price is $232.72 and resistance is $249.58 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that INSP stock will trade within this expected range on the day.