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

Inspire Medical Systems (NYSE:INSP) posted its earnings results on Tuesday. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.29, Briefing.com reports. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The firm had revenue of $164.01 million during the quarter, compared to analysts’ expectations of $161.41 million. During the same period in the previous year, the firm earned ($0.53) earnings per share. The company’s revenue was up 28.2% on a year-over-year basis. Inspire Medical Systems updated its FY24 guidance to $0.10-0.20 EPS.

Inspire Medical Systems Stock Performance

Shares of NYSE INSP traded up $5.90 during trading hours on Thursday, reaching $169.31. 445,576 shares of the stock were exchanged, compared to its average volume of 565,501. Inspire Medical Systems has a 52 week low of $123.27 and a 52 week high of $330.00. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of -222.26 and a beta of 1.35. The stock’s fifty day simple moving average is $215.68 and its 200 day simple moving average is $190.38.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on INSP shares. Jefferies Financial Group began coverage on shares of Inspire Medical Systems in a report on Friday, January 19th. They issued a “buy” rating and a $245.00 price target for the company. Bank of America downgraded Inspire Medical Systems from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $265.00 to $225.00 in a report on Wednesday. KeyCorp initiated coverage on Inspire Medical Systems in a research report on Tuesday, February 6th. They set an “overweight” rating and a $278.00 price target for the company. Morgan Stanley initiated coverage on shares of Inspire Medical Systems in a report on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 price objective on the stock. Finally, Truist Financial reaffirmed a “buy” rating and issued a $280.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $256.53.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, CFO Richard Buchholz sold 15,000 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the sale, the chief financial officer now owns 28,271 shares of the company’s stock, valued at $6,503,178.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Inspire Medical Systems news, CFO Richard Buchholz sold 15,000 shares of Inspire Medical Systems stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the completion of the transaction, the chief financial officer now owns 28,271 shares of the company’s stock, valued at approximately $6,503,178.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy P. Herbert sold 40,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $205.09, for a total transaction of $8,203,600.00. Following the completion of the transaction, the chief executive officer now owns 63,658 shares of the company’s stock, valued at $13,055,619.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,371 shares of company stock valued at $15,664,278. 4.10% of the stock is currently owned by corporate insiders.

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.