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

Inspire Medical Systems (NYSE:INSP - Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.10-0.20 for the period, compared to the consensus estimate of ($0.32). The company issued revenue guidance of $783-793 million, compared to the consensus revenue estimate of $782.27 million.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on INSP. Truist Financial reaffirmed a buy rating and issued a $280.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Mizuho reissued a buy rating and set a $250.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. KeyCorp began coverage on shares of Inspire Medical Systems in a research note on Tuesday, February 6th. They set an overweight rating and a $278.00 price target on the stock. Royal Bank of Canada started coverage on Inspire Medical Systems in a research report on Friday, April 19th. They issued an outperform rating and a $285.00 target price on the stock. Finally, Morgan Stanley assumed coverage on shares of Inspire Medical Systems in a research report on Tuesday, March 19th. They set an overweight rating and a $250.00 price target on the stock. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $272.20.

Inspire Medical Systems Stock Down 2.0 %

NYSE INSP traded down $5.09 on Tuesday, hitting $245.87. The stock had a trading volume of 1,052,194 shares, compared to its average volume of 521,209. The company's 50-day moving average is $215.94 and its two-hundred day moving average is $190.56. Inspire Medical Systems has a one year low of $123.27 and a one year high of $330.00. The stock has a market cap of $7.45 billion, a price-to-earnings ratio of -332.25 and a beta of 1.35.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.53. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The business had revenue of $192.51 million during the quarter, compared to the consensus estimate of $186.75 million. During the same period in the previous year, the firm posted $0.10 earnings per share. The business's revenue was up 39.6% on a year-over-year basis. On average, sell-side analysts anticipate that Inspire Medical Systems will post -0.35 earnings per share for the current year.

Insider Activity at Inspire Medical Systems

In related news, CFO Richard Buchholz sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total value of $3,450,450.00. Following the sale, the chief financial officer now directly owns 28,271 shares in the company, valued at approximately $6,503,178.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Richard Buchholz sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total value of $3,450,450.00. Following the sale, the chief financial officer now directly owns 28,271 shares in the company, valued at approximately $6,503,178.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Randy Ban sold 3,060 shares of the firm's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total value of $556,950.60. Following the completion of the sale, the insider now owns 3,029 shares in the company, valued at $551,308.29. The disclosure for this sale can be found here. Insiders have sold a total of 76,371 shares of company stock worth $15,664,278 in the last three months. 4.10% of the stock is owned by company insiders.

About Inspire Medical Systems

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.