Inspire Medical Systems (NYSE:INSP) Updates FY 2024 Earnings Guidance

Inspire Medical Systems (NYSE:INSP) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 1.200-1.400 for the period, compared to the consensus estimate of 0.680. The company issued revenue guidance of $793.0 million-$798.0 million, compared to the consensus revenue estimate of $795.2 million. Inspire Medical Systems also updated its FY24 guidance to $1.20-1.40 EPS.

Inspire Medical Systems Trading Up 2.4 %

INSP stock traded up $4.71 during midday trading on Tuesday, hitting $197.42. The stock had a trading volume of 834,412 shares, compared to its average volume of 596,205. Inspire Medical Systems has a 52 week low of $123.00 and a 52 week high of $257.40. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 1,085.44 and a beta of 1.36. The stock has a 50-day simple moving average of $201.15 and a 200 day simple moving average of $179.93.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.54. The company had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. Inspire Medical Systems had a return on equity of 1.03% and a net margin of 0.85%. The company’s revenue was up 32.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.29) EPS. On average, equities analysts forecast that Inspire Medical Systems will post 0.75 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on INSP shares. Morgan Stanley decreased their price objective on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Leerink Partners lifted their price objective 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. Stifel Nicolaus reiterated a “hold” rating and issued a $200.00 price target (up previously from $170.00) on shares of Inspire Medical Systems in a report on Tuesday. KeyCorp cut their price target on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $260.00 price target (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $227.75.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was 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 owns 3,056 shares of the company’s stock, valued at $576,208.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Randy Ban sold 4,861 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was 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 approximately $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 Securities & Exchange Commission, which is accessible through this link. Also, Director Shawn Mccormick sold 800 shares of the business’s 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,692 shares of company stock worth $1,099,207. 4.10% of the stock is owned by company 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.