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

Inspire Medical Systems (NYSE:INSP) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 1.200-1.400 for the period, compared to the consensus EPS 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 Down 5.2 %

Shares of INSP traded down $11.01 during trading hours on Thursday, reaching $200.62. The stock had a trading volume of 244,593 shares, compared to its average volume of 600,220. Inspire Medical Systems has a 12 month low of $123.00 and a 12 month high of $257.40. The firm has a 50-day simple moving average of $201.94 and a 200 day simple moving average of $179.94. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 197.79 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.51%. The company had revenue of $203.20 million for the quarter, compared to analysts’ expectations of $197.59 million. During the same period in the prior year, the business earned ($0.29) earnings per share. Inspire Medical Systems’s revenue for the quarter was up 32.6% compared to the same quarter last year. On average, equities analysts forecast that Inspire Medical Systems will post 0.75 EPS for the current year.

Analyst Upgrades and Downgrades

INSP has been the subject of several recent analyst reports. Robert W. Baird lifted their price objective on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a research note on Tuesday. 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 report on Tuesday, September 10th. Royal Bank of Canada restated an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday. 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. Finally, Wells Fargo & Company raised their price target on Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $227.75.

Insider Activity at Inspire Medical Systems

In other 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 sale, the director now owns 23,140 shares in the company, valued at $5,090,800. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction that occurred 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 document filed with the SEC, which is available through this hyperlink. Also, insider Randy Ban sold 4,861 shares of the firm’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 completion of the sale, the insider now owns 3,056 shares in the company, 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. Insiders have sold a total of 5,692 shares of company stock worth $1,099,207 over the last quarter. Company insiders own 4.10% of the company’s stock.

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.