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. Inspire Medical Systems also updated its FY 2024 guidance to 1.200-1.400 EPS.

Analyst Ratings Changes

Several research analysts have recently weighed in on INSP shares. 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 research report on Monday, September 30th. Royal Bank of Canada restated an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research note on Wednesday, August 7th. Piper Sandler reiterated an “overweight” rating and issued a $260.00 price target (up from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday. Morgan Stanley dropped their price target on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, Leerink Partners lifted their price objective on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $227.75.

Inspire Medical Systems Stock Up 2.1 %

Shares of NYSE INSP traded up $4.07 during midday trading on Tuesday, reaching $196.78. 620,952 shares of the company’s stock traded hands, compared to its average volume of 595,208. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 1,091.56 and a beta of 1.36. Inspire Medical Systems has a one year low of $123.00 and a one year high of $257.40. The stock’s 50 day simple moving average is $201.15 and its 200-day simple moving average is $179.93.

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

Insider Transactions at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 800 shares of the firm’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 value of $176,000.00. Following the completion of 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 document filed with the SEC, which is available at this hyperlink. In other news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 sale, the insider now directly owns 3,056 shares of the company’s stock, valued at $576,208.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,692 shares of company stock worth $1,099,207. Corporate insiders own 4.10% of the company’s stock.

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.