Inspire Medical Systems (NYSE:INSP) Issues Earnings Results

Inspire Medical Systems (NYSE:INSP) released its quarterly earnings results on Monday. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.38, FiscalAI reports. The company had revenue of $200.58 million for the quarter, compared to analyst estimates of $194.72 million. Inspire Medical Systems had a net margin of 14.33% and a return on equity of 10.35%.

Inspire Medical Systems Stock Performance

INSP traded up $2.01 during trading on Monday, hitting $52.22. 905,033 shares of the stock were exchanged, compared to its average volume of 1,160,647. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 5.08 and a beta of 0.71. Inspire Medical Systems has a 1 year low of $38.91 and a 1 year high of $147.03. The firm has a 50 day simple moving average of $45.98 and a 200 day simple moving average of $55.45.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in INSP. Royal Bank of Canada grew its position in Inspire Medical Systems by 16.0% in the 1st quarter. Royal Bank of Canada now owns 32,769 shares of the company’s stock valued at $5,220,000 after acquiring an additional 4,528 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Inspire Medical Systems during the 1st quarter valued at about $524,000. Goldman Sachs Group Inc. lifted its stake in Inspire Medical Systems by 57.9% during the first quarter. Goldman Sachs Group Inc. now owns 51,422 shares of the company’s stock valued at $8,190,000 after purchasing an additional 18,857 shares during the last quarter. Marshall Wace LLP boosted its holdings in Inspire Medical Systems by 3.8% during the second quarter. Marshall Wace LLP now owns 15,905 shares of the company’s stock worth $2,064,000 after buying an additional 577 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Inspire Medical Systems during the second quarter valued at $931,000. 94.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus decreased their price target on shares of Inspire Medical Systems from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Royal Bank Of Canada downgraded Inspire Medical Systems from a “sector perform” rating to a “buy” rating in a research note on Monday, June 15th. JPMorgan Chase & Co. lowered their price objective on shares of Inspire Medical Systems from $67.00 to $54.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 5th. Mizuho cut their price target on shares of Inspire Medical Systems from $70.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Finally, Bank of America downgraded Inspire Medical Systems from a “neutral” rating to an “underperform” rating and set a $39.00 price target on the stock. in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $73.28.

Inspire Medical Systems Company Profile

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.