Inspire Medical Systems (NYSE:INSP) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Key Points

• Inspire Medical Systems beat quarterly expectations: The company reported $0.14 in EPS versus the $0.09 consensus estimate, while revenue of $206.69 million modestly exceeded expectations of $204.31 million.
• Shares dipped after the results: The stock fell $0.58 to $67.52 in Monday trading, with a market capitalization of approximately $1.95 billion.
• Analyst sentiment remains cautious: Although some firms raised price targets as high as $80, MarketBeat’s consensus rating is “Hold,” with an average target price of $68.82.

Inspire Medical Systems (NYSE:INSP - Get Free Report) posted its earnings results on Monday. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.05, FiscalAI reports. Inspire Medical Systems had a return on equity of 8.64% and a net margin of 15.03%. The company had revenue of $206.69 million for the quarter, compared to the consensus estimate of $204.31 million.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock traded down $0.58 during trading hours on Monday, hitting $67.52. The company's stock had a trading volume of 1,075,825 shares, compared to its average volume of 1,045,679. The business has a 50 day moving average price of $68.59 and a two-hundred day moving average price of $58.94. Inspire Medical Systems has a 12-month low of $38.91 and a 12-month high of $147.03. The company has a market cap of $1.95 billion, a PE ratio of 14.61, a PEG ratio of 5.15 and a beta of 0.73.

Analysts Set New Price Targets

INSP has been the subject of several recent research reports. Royal Bank Of Canada boosted their target price on shares of Inspire Medical Systems from $60.00 to $75.00 and gave the company a "sector perform" rating in a research report on Thursday, October 1st. Mizuho set a $75.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, October 13th. Stifel Nicolaus increased their price target on shares of Inspire Medical Systems from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, September 11th. Zacks Research cut shares of Inspire Medical Systems from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 22nd. Finally, KeyCorp reissued a "sector weight" rating on shares of Inspire Medical Systems in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $68.82.

Insider Activity

In related news, insider Jason Kelly sold 963 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $59.55, for a total transaction of $57,346.65. Following the completion of the sale, the insider owned 18,985 shares in the company, valued at approximately $1,130,556.75. This trade represents a 4.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.20% of the company's stock.

About Inspire Medical Systems

Inspire Medical Systems, Inc develops and commercializes medical devices for the treatment of obstructive sleep apnea (OSA), a condition in which the upper airway repeatedly narrows or becomes blocked during sleep. The company's primary product is Inspire therapy, an implantable system designed to help keep the airway open by stimulating the hypoglossal nerve, which controls muscles involved in maintaining airway patency.

Inspire therapy is intended for certain adults with moderate to severe OSA who are unable to use or obtain consistent benefit from continuous positive airway pressure (CPAP) therapy.

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