Inspire Medical Systems (NYSE:INSP) Issues Earnings Results

Inspire Medical Systems (NYSE:INSP) issued its quarterly earnings data on Monday. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05, FiscalAI reports. Inspire Medical Systems had a return on equity of 8.64% and a net margin of 15.03%. The business had revenue of $206.69 million for the quarter, compared to analysts’ expectations of $204.31 million.

Inspire Medical Systems Price Performance

Shares of INSP traded down $0.58 during mid-day trading on Monday, reaching $67.52. 1,075,825 shares of the company’s stock traded hands, compared to its average volume of 1,045,679. The stock has a market cap of $1.95 billion, a P/E ratio of 14.61, a P/E/G ratio of 5.15 and a beta of 0.73. The stock’s 50-day moving average is $68.59 and its two-hundred day moving average is $58.94. Inspire Medical Systems has a 12 month low of $38.91 and a 12 month high of $147.03.

Wall Street Analysts Forecast Growth

Several research firms have commented on INSP. KeyCorp reiterated a “sector weight” rating on shares of Inspire Medical Systems in a research report on Tuesday, August 4th. Stifel Nicolaus lifted their price target on Inspire Medical Systems from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, September 11th. Oppenheimer raised Inspire Medical Systems from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research note on Tuesday, August 4th. Zacks Research cut Inspire Medical Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 22nd. Finally, Truist Financial increased their price target on Inspire Medical Systems from $62.00 to $78.00 and gave the company a “hold” rating in a report on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $68.82.

Insider Activity

In related news, insider Jason Kelly sold 963 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $59.55, for a total transaction of $57,346.65. Following the completion of the sale, the insider directly owned 18,985 shares of the company’s stock, valued at approximately $1,130,556.75. This trade represents a 4.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.20% of the company’s stock.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc develops and commercializes medical devices for the treatment of obstructive sleep apnea (OSA), a condition in which the upper airway repeatedly narrows or becomes blocked during sleep. The company’s primary product is Inspire therapy, an implantable system designed to help keep the airway open by stimulating the hypoglossal nerve, which controls muscles involved in maintaining airway patency.

Inspire therapy is intended for certain adults with moderate to severe OSA who are unable to use or obtain consistent benefit from continuous positive airway pressure (CPAP) therapy.