Inspire Medical Systems (NYSE:INSP) Releases Earnings Results, Beats Estimates By $0.46 EPS

Inspire Medical Systems (NYSE:INSP) posted its quarterly earnings results on Tuesday. The company reported $0.32 EPS for the quarter, beating the consensus estimate of ($0.14) by $0.46, Briefing.com reports. Inspire Medical Systems had a negative return on equity of 2.82% and a negative net margin of 2.38%. The business had revenue of $195.89 million during the quarter, compared to analysts’ expectations of $189.08 million. During the same period last year, the firm earned ($0.41) EPS. The company’s quarterly revenue was up 29.6% compared to the same quarter last year. Inspire Medical Systems updated its FY24 guidance to $0.60-0.80 EPS.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock traded up $37.71 during trading on Wednesday, reaching $184.72. The company had a trading volume of 1,747,835 shares, compared to its average volume of 604,109. The company has a market cap of $5.49 billion, a price-to-earnings ratio of -328.69 and a beta of 1.31. Inspire Medical Systems has a fifty-two week low of $123.00 and a fifty-two week high of $263.00. The firm’s fifty day moving average is $146.32 and its 200-day moving average is $182.70.

Wall Street Analyst Weigh In

INSP has been the subject of a number of recent analyst reports. Morgan Stanley reduced their target price on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Stifel Nicolaus decreased their price objective on shares of Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Truist Financial reduced their price target on shares of Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. Bank of America decreased their target price on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating on the stock in a research report on Monday, June 3rd. Finally, Robert W. Baird lowered their price target on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $219.79.

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.