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

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

Analysts Set New Price Targets

Several analysts have recently issued reports on INSP shares. Stifel Nicolaus restated a “hold” rating and issued a $200.00 price objective (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday. Morgan Stanley dropped their price target on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a report on Tuesday. Robert W. Baird lifted their price target on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, KeyCorp dropped 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. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $227.75.

Inspire Medical Systems Trading Up 2.4 %

INSP stock traded up $4.77 during trading on Wednesday, reaching $203.77. The stock had a trading volume of 273,386 shares, compared to its average volume of 598,219. The firm has a fifty day moving average price of $201.37 and a 200 day moving average price of $179.72. The company has a market capitalization of $6.08 billion, a P/E ratio of 185.99 and a beta of 1.36. Inspire Medical Systems has a 1-year low of $123.00 and a 1-year high of $257.40.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. During the same quarter in the prior year, the business posted ($0.29) earnings per share. Inspire Medical Systems’s revenue for the quarter was up 32.6% on a year-over-year basis. Sell-side analysts predict that Inspire Medical Systems will post 0.75 EPS for the current year.

Insider Activity at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 800 shares of the 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 transaction, the director now owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Randy Ban sold 4,861 shares of the company’s 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 sale, the insider now directly owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction 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 completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Insiders have sold 5,692 shares of company stock valued at $1,099,207 over the last ninety days. Corporate 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.