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Is Inspire Medical Systems (INSP) Stock a Buy For 2021?

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Alex Smith
·3 min read
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Wasatch Ultra Growth Fund recently released its Q4 2020 Investor Letter, a copy of which you can download here. The fund posted a return of 23.2% for the quarter, underperforming its benchmark, the Russell 2,000 Growth Index which returned 29.6% in the same quarter. You should check out Wasatch's top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.

In the Q4 2020 Investor Letter, Wasatch highlighted a few stocks and Inspire Medical Systems Inc. (NYSE:INSP) is one of them. Inspire Medical Systems Inc. (NYSE:INSP) operates as a medical technology company. In the last three months, Inspire Medical Systems Inc. (NYSE:INSP) stock gained 26.1% and on February 25th it had a closing price of $226.24. Here is what Wasatch said:

"The strongest contributor to Fund performance for the quarter was Inspire Medical Systems, Inc. (INSP). The company develops minimally invasive solutions for patients with obstructive sleep apnea. Inspire experienced a drop-off in business during early phases of the pandemic as surgeries for sleep apnea and other elective procedures were postponed. However, patient flow has rebounded strongly. Revenues and earnings exceeded expectations in the company’s most recently reported quarter, and management has raised its full-year revenue guidance for 2020. Looking forward, Inspire has significantly expanded reimbursement coverage from U.S. insurers, paving the way for potentially accelerated penetration of its sizable addressable market."

Countries with the Lowest Cancer Rates in the World in 2018
Countries with the Lowest Cancer Rates in the World in 2018

adriaticfoto/Shutterstock.com

Last month, we published an article revealing that Headwaters Capital Management believes that 2021 would be a good year for Inspire Medical Systems Inc. (NYSE:INSP) stock.

In Q2 2020, the number of bullish hedge fund positions on Inspire Medical Systems Inc. (NYSE:INSP) stock decreased by about 4% from the previous quarter (see the chart here), so a number of other hedge fund managers don't believe in INSP's growth potential. Our calculations showed that Inspire Medical Systems Inc. (NYSE:INSP) isn't ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds' poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 15 best innovative stocks to buy to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website:

Disclosure: None. This article is originally published at Insider Monkey.