Inspire Medical Systems (NYSE:INSP) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Inspire Medical Systems (NYSE:INSP – Get Rating) released its earnings results on Tuesday. The company reported ($0.61) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.12, MarketWatch Earnings reports. Inspire Medical Systems had a negative return on equity of 18.84% and a negative net margin of 18.01%. The business had revenue of $69.40 million during the quarter, compared to the consensus estimate of $64.17 million. During the same period last year, the company earned ($0.60) earnings per share. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year.

INSP stock opened at $213.56 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.50 and a quick ratio of 6.08. The business has a 50-day moving average price of $238.19 and a 200 day moving average price of $237.45. The company has a market capitalization of $5.88 billion, a P/E ratio of -137.78 and a beta of 1.65. Inspire Medical Systems has a 1-year low of $159.18 and a 1-year high of $286.29.

In other Inspire Medical Systems news, CEO Timothy P. Herbert sold 20,000 shares of the business’s stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $225.40, for a total value of $4,508,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy P. Herbert sold 695 shares of the business’s stock in a transaction dated Friday, March 25th. The stock was sold at an average price of $250.00, for a total transaction of $173,750.00. The disclosure for this sale can be found here. Insiders sold 52,143 shares of company stock valued at $12,848,826 over the last 90 days. 5.00% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of INSP. BlackRock Inc. increased its position in shares of Inspire Medical Systems by 2.1% in the fourth quarter. BlackRock Inc. now owns 1,846,227 shares of the company’s stock valued at $424,741,000 after buying an additional 38,582 shares in the last quarter. Morgan Stanley raised its position in Inspire Medical Systems by 10.4% in the second quarter. Morgan Stanley now owns 323,802 shares of the company’s stock valued at $62,577,000 after purchasing an additional 30,570 shares during the period. Sei Investments Co. raised its position in Inspire Medical Systems by 36.2% in the fourth quarter. Sei Investments Co. now owns 11,655 shares of the company’s stock valued at $2,687,000 after purchasing an additional 3,098 shares during the period. Guggenheim Capital LLC purchased a new stake in shares of Inspire Medical Systems in the 4th quarter valued at $461,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Inspire Medical Systems by 209.4% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,575 shares of the company’s stock valued at $362,000 after buying an additional 1,066 shares during the period. 93.98% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently weighed in on INSP shares. SVB Leerink lifted their target price on Inspire Medical Systems from $270.00 to $273.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 9th. Piper Sandler lifted their target price on Inspire Medical Systems from $305.00 to $310.00 in a research report on Wednesday. Truist Financial started coverage on Inspire Medical Systems in a research report on Tuesday, April 12th. They set a “buy” rating and a $315.00 target price for the company. Wolfe Research began coverage on Inspire Medical Systems in a research report on Tuesday, April 5th. They set a “market perform” rating and a $270.00 target price for the company. Finally, Bank of America began coverage on Inspire Medical Systems in a report on Wednesday, March 2nd. They issued a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $297.14.

Inspire Medical Systems Company Profile (Get Rating)

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.

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