Inspire Medical Systems (NYSE:INSP) Announces Quarterly Earnings Results

Inspire Medical Systems (NYSE:INSP) posted its quarterly earnings data on Monday. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.54, Briefing.com reports. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The firm had revenue of $203.20 million during the quarter, compared to analysts’ expectations of $197.59 million. During the same quarter last year, the company posted ($0.29) EPS. The firm’s quarterly revenue was up 32.6% on a year-over-year basis. Inspire Medical Systems updated its FY24 guidance to $1.20-1.40 EPS and its FY 2024 guidance to 1.200-1.400 EPS.

Inspire Medical Systems Trading Up 3.3 %

INSP stock opened at $199.01 on Wednesday. The company has a market capitalization of $5.93 billion, a P/E ratio of 185.99 and a beta of 1.36. The business has a 50 day simple moving average of $201.37 and a 200-day simple moving average of $179.72. Inspire Medical Systems has a twelve month low of $123.00 and a twelve month high of $257.40.

Insider Activity

In related news, insider Randy Ban sold 4,861 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the sale, the insider now owns 3,056 shares in the company, valued at $576,208.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the transaction, the director now owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Randy Ban sold 4,861 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the sale, the insider now directly owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,692 shares of company stock valued at $1,099,207 in the last ninety days. 4.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

INSP has been the subject of a number of research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday. Piper Sandler reaffirmed an “overweight” rating and issued a $260.00 target price (up from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday. Morgan Stanley reduced their price target on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Stifel Nicolaus restated a “hold” rating and issued a $200.00 price objective (up previously from $170.00) on shares of Inspire Medical Systems in a report on Tuesday. Finally, Wells Fargo & Company increased their target price on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.75.

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.