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

Inspire Medical Systems (NYSE:INSP) issued an update on 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.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on INSP shares. Mizuho restated a buy rating and issued a $250.00 target price on shares of Inspire Medical Systems in a report on Wednesday, March 27th. KeyCorp assumed coverage on shares of Inspire Medical Systems in a report on Tuesday, February 6th. They set an overweight rating and a $278.00 target price for the company. Piper Sandler boosted their price objective on shares of Inspire Medical Systems from $250.00 to $255.00 and gave the company an overweight rating in a report on Wednesday. Bank of America cut Inspire Medical Systems from a buy rating to a neutral rating and lowered their target price for the stock from $265.00 to $225.00 in a research note on Wednesday. Finally, Jefferies Financial Group began coverage on shares of Inspire Medical Systems in a research report on Friday, January 19th. They issued a buy rating and a $245.00 price objective on the stock. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $256.53.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock traded down $4.66 during midday trading on Friday, hitting $169.71. 384,506 shares of the company were exchanged, compared to its average volume of 575,545. Inspire Medical Systems has a fifty-two week low of $123.27 and a fifty-two week high of $330.00. The business has a fifty day simple moving average of $215.59 and a two-hundred day simple moving average of $190.27. The firm has a market capitalization of $5.14 billion, a PE ratio of -317.02 and a beta of 1.35.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.29. The firm had revenue of $164.01 million for the quarter, compared to analysts’ expectations of $161.41 million. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The company’s revenue was up 28.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.53) EPS. As a group, equities analysts expect that Inspire Medical Systems will post -0.35 earnings per share for the current year.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 3,060 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $182.01, for a total transaction of $556,950.60. Following the completion of the transaction, the insider now owns 3,029 shares of the company’s stock, valued at $551,308.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Inspire Medical Systems news, CEO Timothy P. Herbert sold 40,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $205.09, for a total transaction of $8,203,600.00. Following the completion of the transaction, the chief executive officer now directly owns 63,658 shares of the company’s stock, valued at approximately $13,055,619.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Randy Ban sold 3,060 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $182.01, for a total transaction of $556,950.60. Following the completion of the transaction, the insider now directly owns 3,029 shares in the company, valued at approximately $551,308.29. The disclosure for this sale can be found here. In the last three months, insiders sold 76,371 shares of company stock valued at $15,664,278. Corporate insiders own 4.10% of the company’s stock.

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.