Inspire Medical Systems (NYSE:INSP) Updates FY24 Earnings Guidance

Inspire Medical Systems (NYSE:INSP) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $1.20-1.40 for the period, compared to the consensus EPS estimate of $0.75. The company issued revenue guidance of $793-798 million, compared to the consensus revenue estimate of $795.23 million.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on INSP shares. KeyCorp lowered their target price on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Leerink Partners increased their price target on Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. Truist Financial reaffirmed a “buy” rating and set a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Robert W. Baird reduced their target price on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $219.58.

Inspire Medical Systems Price Performance

Shares of INSP stock traded up $2.00 during trading on Monday, reaching $192.71. The company’s stock had a trading volume of 790,314 shares, compared to its average volume of 595,067. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of 1,059.50 and a beta of 1.36. Inspire Medical Systems has a 1-year low of $123.00 and a 1-year high of $257.40. The stock’s 50-day moving average price is $201.08 and its 200 day moving average price is $180.27.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.46. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The firm had revenue of $195.89 million for the quarter, compared to analysts’ expectations of $189.08 million. During the same quarter last year, the company earned ($0.41) earnings per share. The firm’s revenue was up 29.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Inspire Medical Systems will post 0.75 EPS for the current fiscal year.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the completion of the sale, the director now directly owns 23,140 shares of the company’s stock, valued at $5,090,800. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Shawn Mccormick sold 800 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the transaction, the director now directly owns 23,140 shares of the company’s stock, valued at $5,090,800. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the sale, the insider now directly owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,692 shares of company stock valued at $1,099,207 over the last quarter. 4.10% of the stock is owned by 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.