Inspire Medical Systems (NYSE:INSP) Issues Earnings Results, Beats Expectations By $0.38 EPS

Key Points

• Inspire Medical Systems beat quarterly expectations: The company reported adjusted earnings of $0.14 per share, exceeding consensus estimates of a $0.24 loss by $0.38, while revenue of $200.58 million surpassed expectations of $194.72 million.
• Shares rose 4.0% to $52.22 following the results. Inspire has a $1.50 billion market capitalization, while its stock carries a consensus “Hold” rating and an average analyst price target of $73.28.
• Institutional investors and hedge funds own approximately 94.91% of the company, and recent analyst opinions remain mixed, ranging from “Strong Buy” and “Buy” to “Sell” ratings.

Inspire Medical Systems (NYSE:INSP - Get Free Report) announced its quarterly earnings results on Monday. The company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of ($0.24) by $0.38, FiscalAI reports. Inspire Medical Systems had a net margin of 14.33% and a return on equity of 10.35%. The firm had revenue of $200.58 million during the quarter, compared to analysts' expectations of $194.72 million.

Inspire Medical Systems Trading Up 4.0%

NYSE:INSP traded up $2.01 during mid-day trading on Monday, reaching $52.22. 905,033 shares of the stock were exchanged, compared to its average volume of 1,160,647. The firm has a market capitalization of $1.50 billion, a PE ratio of 11.63, a PEG ratio of 5.08 and a beta of 0.71. Inspire Medical Systems has a 1-year low of $38.91 and a 1-year high of $147.03. The business has a fifty day moving average price of $45.98 and a 200 day moving average price of $55.45.

Wall Street Analyst Weigh In

A number of research analysts have commented on INSP shares. Truist Financial boosted their price objective on Inspire Medical Systems from $50.00 to $54.00 and gave the stock a "hold" rating in a research note on Thursday, July 16th. Bank of America lowered Inspire Medical Systems from a "neutral" rating to an "underperform" rating and set a $39.00 target price for the company. in a research note on Friday, May 22nd. Weiss Ratings downgraded shares of Inspire Medical Systems from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday, May 6th. Summit Redstone set a $39.00 target price on shares of Inspire Medical Systems in a research note on Friday, May 22nd. Finally, Stifel Nicolaus dropped their price target on shares of Inspire Medical Systems from $70.00 to $65.00 and set a "buy" rating on the stock in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $73.28.

Institutional Trading of Inspire Medical Systems

Institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in Inspire Medical Systems by 84.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 449 shares of the company's stock worth $42,000 after purchasing an additional 205 shares in the last quarter. Larson Financial Group LLC boosted its position in Inspire Medical Systems by 21,266.7% during the third quarter. Larson Financial Group LLC now owns 641 shares of the company's stock valued at $48,000 after purchasing an additional 638 shares during the last quarter. Quarry LP grew its stake in Inspire Medical Systems by 695.1% in the fourth quarter. Quarry LP now owns 644 shares of the company's stock valued at $59,000 after purchasing an additional 563 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Inspire Medical Systems by 38.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company's stock valued at $60,000 after purchasing an additional 130 shares during the period. Finally, Parallel Advisors LLC increased its holdings in Inspire Medical Systems by 349.7% in the 4th quarter. Parallel Advisors LLC now owns 715 shares of the company's stock worth $66,000 after purchasing an additional 556 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company's stock.

About Inspire Medical Systems

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company's flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.

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