Inspire Medical Systems, Inc. Forecasted to Earn Q2 2024 Earnings of ($0.04) Per Share (NYSE:INSP)

Inspire Medical Systems, Inc. (NYSE:INSP) – Investment analysts at Leerink Partnrs increased their Q2 2024 earnings per share (EPS) estimates for Inspire Medical Systems in a report released on Tuesday, May 7th. Leerink Partnrs analyst M. Kratky now anticipates that the company will earn ($0.04) per share for the quarter, up from their previous forecast of ($0.06). The consensus estimate for Inspire Medical Systems’ current full-year earnings is ($0.35) per share. Leerink Partnrs also issued estimates for Inspire Medical Systems’ Q3 2024 earnings at ($0.09) EPS, Q4 2024 earnings at $0.63 EPS, FY2024 earnings at $0.18 EPS, Q1 2025 earnings at ($0.55) EPS, Q2 2025 earnings at ($0.02) EPS, Q3 2025 earnings at $0.12 EPS, Q4 2025 earnings at $0.69 EPS, FY2025 earnings at $0.27 EPS and FY2026 earnings at $2.33 EPS.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.29. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The company had revenue of $164.01 million during the quarter, compared to analysts’ expectations of $161.41 million. During the same period in the prior year, the firm earned ($0.53) earnings per share. Inspire Medical Systems’s revenue for the quarter was up 28.2% compared to the same quarter last year.

A number of other brokerages have also weighed in on INSP. Morgan Stanley began coverage on Inspire Medical Systems in a research note on Tuesday, March 19th. They set an “overweight” rating and a $250.00 target price on the stock. Piper Sandler raised their price objective on Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday. KeyCorp initiated coverage on Inspire Medical Systems in a report on Tuesday, February 6th. They set an “overweight” rating and a $278.00 price objective on the stock. Truist Financial reaffirmed a “buy” rating and set a $280.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Finally, Royal Bank of Canada started coverage on Inspire Medical Systems in a research report on Friday, April 19th. They set an “outperform” rating and a $285.00 target price for the company. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and an average target price of $256.53.

Inspire Medical Systems Stock Performance

NYSE:INSP opened at $167.83 on Friday. The stock’s 50 day moving average price is $215.28 and its two-hundred day moving average price is $190.40. Inspire Medical Systems has a 12-month low of $123.27 and a 12-month high of $330.00.

Institutional Trading of Inspire Medical Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in INSP. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Inspire Medical Systems in the fourth quarter worth $27,000. NBC Securities Inc. acquired a new stake in shares of Inspire Medical Systems in the third quarter worth $34,000. RiverPark Advisors LLC acquired a new stake in shares of Inspire Medical Systems in the third quarter worth $44,000. Headinvest LLC acquired a new stake in Inspire Medical Systems during the third quarter valued at $48,000. Finally, Principal Securities Inc. acquired a new stake in Inspire Medical Systems during the fourth quarter valued at $54,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

Insider Activity

In other Inspire Medical Systems news, insider Randy Ban sold 3,060 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total value of $556,950.60. Following the transaction, the insider now directly owns 3,029 shares in the company, valued at approximately $551,308.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jerry C. Griffin sold 554 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.53, for a total transaction of $107,215.62. Following the completion of the sale, the director now owns 10,190 shares of the company’s stock, valued at $1,972,070.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Randy Ban sold 3,060 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total transaction of $556,950.60. Following the sale, the insider now directly owns 3,029 shares of the company’s stock, valued at approximately $551,308.29. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,371 shares of company stock worth $15,664,278. 4.10% of the stock is currently owned by corporate insiders.

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.