Q1 2023 EPS Estimates for Inspire Medical Systems, Inc. (NYSE:INSP) Cut by SVB Leerink

Inspire Medical Systems, Inc. (NYSE:INSPGet Rating) – Equities researchers at SVB Leerink dropped their Q1 2023 earnings per share (EPS) estimates for Inspire Medical Systems in a research report issued on Monday, April 18th. SVB Leerink analyst D. Antalffy now expects that the company will post earnings of ($0.43) per share for the quarter, down from their previous forecast of ($0.35). SVB Leerink has a “Outperform” rating and a $273.00 price target on the stock. SVB Leerink also issued estimates for Inspire Medical Systems’ Q2 2023 earnings at ($0.39) EPS, Q3 2023 earnings at ($0.33) EPS, Q4 2023 earnings at ($0.10) EPS and FY2023 earnings at ($1.24) EPS.

Inspire Medical Systems (NYSE:INSPGet Rating) last released its quarterly earnings results on Tuesday, February 8th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.38. The business had revenue of $78.40 million for the quarter, compared to analyst estimates of $75.60 million. Inspire Medical Systems had a negative net margin of 18.01% and a negative return on equity of 18.84%. The company’s quarterly revenue was up 70.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.28) earnings per share.

Several other brokerages also recently issued reports on INSP. Bank of America began coverage on shares of Inspire Medical Systems in a research note on Wednesday, March 2nd. They set a “buy” rating on the stock. Truist Financial began coverage on shares of Inspire Medical Systems in a research note on Tuesday, April 12th. They set a “buy” rating and a $315.00 price objective on the stock. Wolfe Research began coverage on shares of Inspire Medical Systems in a research note on Tuesday, April 5th. They set a “market perform” rating and a $270.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Inspire Medical Systems from a “hold” rating to a “buy” rating and set a $287.00 price target on the stock in a research note on Tuesday, April 12th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Inspire Medical Systems currently has a consensus rating of “Buy” and an average price target of $296.43.

Shares of INSP opened at $256.83 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 6.08 and a current ratio of 6.50. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of -165.70 and a beta of 1.57. The company’s 50 day simple moving average is $238.93 and its 200 day simple moving average is $238.97. Inspire Medical Systems has a 1 year low of $159.18 and a 1 year high of $286.29.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Leverty Financial Group LLC acquired a new stake in Inspire Medical Systems during the 4th quarter valued at $25,000. Assetmark Inc. acquired a new position in Inspire Medical Systems during the 3rd quarter worth $33,000. Rockefeller Capital Management L.P. grew its holdings in Inspire Medical Systems by 80.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 144 shares of the company’s stock worth $33,000 after acquiring an additional 64 shares in the last quarter. Covestor Ltd acquired a new position in Inspire Medical Systems during the 4th quarter worth $35,000. Finally, Marshall Wace North America L.P. acquired a new position in Inspire Medical Systems during the 1st quarter worth $45,000. 93.09% of the stock is owned by institutional investors and hedge funds.

In related news, Director Marilyn C. Nelson sold 10,000 shares of the firm’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $267.50, for a total transaction of $2,675,000.00. Following the completion of the sale, the director now directly owns 3,710 shares of the company’s stock, valued at approximately $992,425. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Timothy P. Herbert sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 17th. The shares were sold at an average price of $225.40, for a total transaction of $4,508,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 52,143 shares of company stock worth $12,848,826. Insiders own 5.00% of the company’s stock.

About Inspire Medical Systems (Get Rating)

Inspire Medical Systems, Inc engages in the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea. It offers inspire therapy, which consists of a remote control and implantable components that includes pressure sensing lead, a neurostimulator, and a stimulation lead.

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Earnings History and Estimates for Inspire Medical Systems (NYSE:INSP)

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