Inspire Medical Systems (NYSE:INSP) Issues FY24 Earnings Guidance

Inspire Medical Systems (NYSE:INSP) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $1.20-1.40 for the period, compared to the consensus earnings per share 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 equities research analysts recently issued reports on INSP shares. KeyCorp reduced their price objective on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Leerink Partners lifted their price target on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 10th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $200.00 target price (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday. Truist Financial restated a “buy” rating and issued a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, August 7th. Four 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 stock currently has an average rating of “Moderate Buy” and an average price target of $227.75.

Inspire Medical Systems Price Performance

Shares of INSP traded up $4.07 on Tuesday, hitting $196.78. The company’s stock had a trading volume of 620,952 shares, compared to its average volume of 595,208. The company has a 50 day moving average price of $201.15 and a 200 day moving average price of $179.93. Inspire Medical Systems has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The company has a market capitalization of $5.87 billion, a PE ratio of 1,091.56 and a beta of 1.36.

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

Insider Buying and Selling at Inspire Medical Systems

In related news, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction dated Friday, August 16th. The stock was 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 directly owns 3,056 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Shawn Mccormick sold 800 shares of the 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 sale, the director now directly owns 23,140 shares in the company, valued at $5,090,800. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Randy Ban sold 4,861 shares of Inspire Medical Systems 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 directly owns 3,056 shares in the company, valued at $576,208.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,692 shares of company stock worth $1,099,207. 4.10% of the stock is currently owned by corporate 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.