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

Inspire Medical Systems (NYSE:INSP) posted its quarterly earnings data 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 net margin of 2.38% and a negative return on equity of 2.82%. The business had revenue of $195.89 million for the quarter, compared to analysts’ expectations of $189.08 million. During the same period in the previous year, the firm posted ($0.41) EPS. The firm’s 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 Trading Down 0.4 %

INSP stock traded down $0.67 during trading hours on Thursday, hitting $187.71. 1,014,543 shares of the stock were exchanged, compared to its average volume of 610,696. The firm has a market capitalization of $5.58 billion, a P/E ratio of -342.82 and a beta of 1.31. The company has a 50-day simple moving average of $146.89 and a two-hundred day simple moving average of $182.74. Inspire Medical Systems has a 12 month low of $123.00 and a 12 month high of $257.40.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a report on Wednesday. Stifel Nicolaus reduced their price objective on shares of Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Piper Sandler upped their target price on shares of Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Bank of America lowered their price target 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 dropped their price objective on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday. Five equities 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $219.79.

About Inspire Medical Systems

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.