Leerink Partnrs Analysts Raise Earnings Estimates for Inspire Medical Systems, Inc. (NYSE:INSP)

Inspire Medical Systems, Inc. (NYSE:INSP) – Analysts at Leerink Partnrs increased their Q2 2024 earnings per share estimates for Inspire Medical Systems in a note issued to investors on Tuesday, May 7th. Leerink Partnrs analyst M. Kratky now anticipates that the company will post earnings of ($0.04) per share for the quarter, up from their previous estimate 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 released its earnings results on Tuesday, May 7th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $164.01 million during the quarter, compared to the consensus estimate of $161.41 million. During the same period in the prior year, the company posted ($0.53) EPS. The company’s revenue was up 28.2% compared to the same quarter last year.

INSP has been the subject of a number of other research reports. Jefferies Financial Group started coverage on shares of Inspire Medical Systems in a report on Friday, January 19th. They set a “buy” rating and a $245.00 price target for the company. Mizuho reaffirmed a “buy” rating and issued a $250.00 target price on shares of Inspire Medical Systems in a report on Wednesday, March 27th. Bank of America cut Inspire Medical Systems from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $265.00 to $225.00 in a report on Wednesday. Truist Financial reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Inspire Medical Systems in a research note on Wednesday, March 20th. Finally, Royal Bank of Canada assumed 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. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $256.53.

Inspire Medical Systems Stock Up 6.7 %

Shares of Inspire Medical Systems stock opened at $174.36 on Friday. Inspire Medical Systems has a 12-month low of $123.27 and a 12-month high of $330.00. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of -317.02 and a beta of 1.35. The firm’s 50-day moving average price is $215.59 and its two-hundred day moving average price is $190.27.

Insider Buying and Selling at Inspire Medical Systems

In other news, insider Randy Ban sold 12,230 shares of Inspire Medical Systems stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $185.37, for a total transaction of $2,267,075.10. Following the transaction, the insider now owns 3,029 shares in the company, valued at $561,485.73. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Inspire Medical Systems news, Director Jerry C. Griffin sold 554 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $198.05, for a total transaction of $109,719.70. Following the completion of the sale, the director now owns 9,744 shares of the company’s stock, valued at approximately $1,929,799.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Randy Ban sold 12,230 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $185.37, for a total transaction of $2,267,075.10. Following the transaction, the insider now owns 3,029 shares of the company’s stock, valued at approximately $561,485.73. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,371 shares of company stock worth $15,664,278. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Inspire Medical Systems

Several large investors have recently modified their holdings of INSP. McGlone Suttner Wealth Management Inc. acquired a new position in Inspire Medical Systems in the fourth quarter valued at approximately $27,000. NBC Securities Inc. acquired a new position in Inspire Medical Systems during the third quarter worth $34,000. RiverPark Advisors LLC bought a new position in shares of Inspire Medical Systems in the third quarter valued at $44,000. Headinvest LLC acquired a new position in shares of Inspire Medical Systems during the third quarter valued at about $48,000. Finally, Principal Securities Inc. acquired a new stake in shares of Inspire Medical Systems in the 4th quarter worth about $54,000. 94.91% of the stock is currently owned by institutional investors and hedge funds.

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.