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 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 Stock Performance

NYSE:INSP traded up $2.00 on Monday, hitting $192.71. 792,459 shares of the stock were exchanged, compared to its average volume of 595,077. Inspire Medical Systems has a 52 week low of $123.00 and a 52 week high of $257.40. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 1,059.50 and a beta of 1.36. The company’s 50-day moving average price is $201.08 and its 200 day moving average price is $180.27.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.46. The firm had revenue of $195.89 million for the quarter, compared to analysts’ expectations of $189.08 million. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The business’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same period last year, the firm earned ($0.41) earnings per share. As a group, equities research analysts predict that Inspire Medical Systems will post 0.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Robert W. Baird lowered their price target on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley reduced their price target on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. KeyCorp lowered their price objective on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Leerink Partners boosted their target price on 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. Finally, Truist Financial reaffirmed a “buy” rating and set a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Inspire Medical Systems presently has an average rating of “Moderate Buy” and an average price target of $219.58.

Insider Activity at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 800 shares of the 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 sale, the director now owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the business’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 transaction of $176,000.00. Following the transaction, the director now owns 23,140 shares of the company’s stock, valued at $5,090,800. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Randy Ban sold 4,861 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were 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 of the company’s stock, valued at approximately $576,208.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,692 shares of company stock valued at $1,099,207. 4.10% of the stock is owned by 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.