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

Inspire Medical Systems (NYSE:INSP) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $0.60-0.80 for the period, compared to the consensus EPS estimate of $0.16. The company issued revenue guidance of $788-798 million, compared to the consensus revenue estimate of $789.70 million.

Analyst Ratings Changes

Several analysts have recently commented on INSP shares. Bank of America reduced their target price on shares of Inspire Medical Systems from $225.00 to $185.00 and set a neutral rating for the company in a research note on Monday, June 3rd. Piper Sandler increased their price objective on Inspire Medical Systems from $250.00 to $255.00 and gave the stock an overweight rating in a research report on Wednesday, May 8th. Truist Financial decreased their target price on shares of Inspire Medical Systems from $280.00 to $217.00 and set a buy rating on the stock in a research report on Tuesday, July 16th. Stifel Nicolaus cut their price target on shares of Inspire Medical Systems from $210.00 to $170.00 and set a hold rating for the company in a report on Monday, June 24th. Finally, Morgan Stanley lowered their target price on shares of Inspire Medical Systems from $250.00 to $210.00 and set an overweight rating on the stock in a research report on Monday, July 15th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $226.46.

Inspire Medical Systems Stock Up 0.9 %

Shares of Inspire Medical Systems stock traded up $1.36 during trading on Tuesday, hitting $146.87. 582,966 shares of the company were exchanged, compared to its average volume of 596,470. Inspire Medical Systems has a fifty-two week low of $123.00 and a fifty-two week high of $277.89. The firm has a 50 day moving average price of $146.55 and a 200 day moving average price of $183.08. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of -267.29 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.29. The company had revenue of $164.01 million during the quarter, compared to analysts’ expectations of $161.41 million. Inspire Medical Systems had a negative return on equity of 2.82% and a negative net margin of 2.38%. The business’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.53) earnings per share. Analysts predict that Inspire Medical Systems will post 0.15 earnings per share for the current year.

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.