Inspire Medical Systems (INSP) Set to Announce Quarterly Earnings on Monday

Inspire Medical Systems (NYSE:INSP) is scheduled to be releasing its earnings data after the market closes on Monday, November 4th. Analysts expect Inspire Medical Systems to post earnings of $0.06 per share for the quarter. Inspire Medical Systems has set its FY24 guidance at $0.60-0.80 EPS.Investors that wish to register for the company’s conference call can do so using this link.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.46. The business had revenue of $195.89 million for the quarter, compared to analysts’ expectations of $189.08 million. Inspire Medical Systems had a return on equity of 1.03% and a net margin of 0.85%. Inspire Medical Systems’s quarterly revenue was up 29.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.41) earnings per share. On average, analysts expect Inspire Medical Systems to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Inspire Medical Systems Price Performance

Shares of INSP stock opened at $190.71 on Friday. Inspire Medical Systems has a one year low of $123.00 and a one year high of $257.40. The stock has a fifty day moving average price of $201.08 and a 200 day moving average price of $180.71. The stock has a market cap of $5.69 billion, a P/E ratio of 1,059.50 and a beta of 1.36.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Truist Financial reaffirmed a “buy” rating and set a $240.00 price objective (up from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a report on Wednesday, August 7th. Morgan Stanley dropped their target price on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, July 15th. KeyCorp decreased their price target on 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. Finally, Robert W. Baird dropped their price objective on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Inspire Medical Systems has an average rating of “Moderate Buy” and an average target price of $219.58.

Insider Activity

In related news, insider Randy Ban sold 4,861 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the transaction, the insider now owns 3,056 shares in the company, valued at $576,208.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Randy Ban sold 4,861 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $188.55, for a total value of $916,541.55. Following the completion of the sale, the insider now owns 3,056 shares of the company’s stock, valued at $576,208.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,692 shares of company stock worth $1,099,207. 4.10% of the stock is owned by corporate insiders.

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.