Inspire Medical Systems (NYSE:INSP) Releases Earnings Results, Beats Estimates By $0.95 EPS

Inspire Medical Systems (NYSE:INSP) posted its quarterly earnings results on Wednesday. The company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.95, Zacks reports. Inspire Medical Systems had a return on equity of 9.41% and a net margin of 5.05%.

Inspire Medical Systems Price Performance

INSP stock traded up $0.36 during midday trading on Wednesday, reaching $68.50. 2,269,849 shares of the stock were exchanged, compared to its average volume of 1,262,076. Inspire Medical Systems has a 52 week low of $64.46 and a 52 week high of $197.75. The company has a fifty day moving average price of $97.37 and a 200 day moving average price of $91.87. The stock has a market capitalization of $1.99 billion, a PE ratio of 46.60, a P/E/G ratio of 6.69 and a beta of 0.74.

Insider Buying and Selling

In other news, Director Shawn Mccormick sold 2,000 shares of Inspire Medical Systems stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $127.48, for a total transaction of $254,960.00. Following the sale, the director directly owned 26,046 shares of the company’s stock, valued at approximately $3,320,344.08. This trade represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. boosted its position in Inspire Medical Systems by 38.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock worth $60,000 after buying an additional 130 shares during the period. Larson Financial Group LLC raised its stake in shares of Inspire Medical Systems by 21,266.7% during the third quarter. Larson Financial Group LLC now owns 641 shares of the company’s stock valued at $48,000 after acquiring an additional 638 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Inspire Medical Systems by 349.7% during the fourth quarter. Parallel Advisors LLC now owns 715 shares of the company’s stock valued at $66,000 after acquiring an additional 556 shares during the last quarter. State of Wyoming lifted its holdings in shares of Inspire Medical Systems by 31.5% during the fourth quarter. State of Wyoming now owns 731 shares of the company’s stock worth $67,000 after purchasing an additional 175 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Inspire Medical Systems by 5,300.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,080 shares of the company’s stock worth $80,000 after purchasing an additional 1,060 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on INSP. Evercore reissued an “outperform” rating and issued a $125.00 target price on shares of Inspire Medical Systems in a report on Thursday, January 22nd. Oppenheimer lowered shares of Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 22nd. UBS Group set a $96.00 price objective on shares of Inspire Medical Systems in a research note on Thursday, January 22nd. Zacks Research upgraded Inspire Medical Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, October 27th. Finally, Piper Sandler raised their target price on Inspire Medical Systems from $135.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, December 8th. Eight investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $133.47.

About Inspire Medical Systems

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.