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

Inspire Medical Systems (NYSE:INSP) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $1.20-1.40 for the period, compared to the consensus earnings per share estimate of $0.75. The company issued revenue guidance of $793-798 million, compared to the consensus revenue estimate of $795.23 million. Inspire Medical Systems also updated its FY 2024 guidance to 1.200-1.400 EPS.

Inspire Medical Systems Stock Down 5.0 %

Inspire Medical Systems stock traded down $10.64 during mid-day trading on Thursday, reaching $200.99. 159,960 shares of the company’s stock traded hands, compared to its average volume of 599,828. Inspire Medical Systems has a 12-month low of $123.00 and a 12-month high of $257.40. The stock has a 50 day moving average of $201.94 and a two-hundred day moving average of $179.94. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 197.79 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.54. The company had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. Inspire Medical Systems had a return on equity of 5.51% and a net margin of 4.37%. Inspire Medical Systems’s quarterly revenue was up 32.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.29) EPS. As a group, sell-side analysts forecast that Inspire Medical Systems will post 0.75 earnings per share for the current year.

Wall Street Analyst Weigh In

INSP has been the subject of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a research note on Tuesday. Truist Financial reiterated a “buy” rating and set a $240.00 target price (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Leerink Partners upped their price target on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a report on Tuesday, September 10th. Robert W. Baird lifted their price objective on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Wells Fargo & Company upped their target price on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $227.75.

Insiders Place Their Bets

In related news, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the sale, the director now owns 23,140 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this link. In related news, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were 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 owns 23,140 shares in the company, valued at $5,090,800. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Randy Ban sold 4,861 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were 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 $576,208.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,692 shares of company stock worth $1,099,207 over the last 90 days. Company 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.