Inspire Medical Systems (NYSE:INSP) Issues Quarterly Earnings Results, Beats Expectations By $0.53 EPS

Inspire Medical Systems (NYSE:INSPGet Free Report) posted its quarterly earnings results on Tuesday. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.53, Briefing.com reports. Inspire Medical Systems had a negative return on equity of 4.02% and a negative net margin of 3.39%. The business had revenue of $192.51 million during the quarter, compared to analysts’ expectations of $186.75 million. During the same quarter last year, the company posted $0.10 earnings per share. Inspire Medical Systems’s quarterly revenue was up 39.6% on a year-over-year basis.

Inspire Medical Systems Price Performance

Shares of NYSE:INSP opened at $202.02 on Friday. The company’s 50 day simple moving average is $191.51 and its 200 day simple moving average is $194.50. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of -273.00 and a beta of 1.42. Inspire Medical Systems has a 1 year low of $123.27 and a 1 year high of $330.00.

Institutional Trading of Inspire Medical Systems

A number of hedge funds and other institutional investors have recently modified their holdings of INSP. Vanguard Group Inc. grew its stake in shares of Inspire Medical Systems by 4.3% in the third quarter. Vanguard Group Inc. now owns 2,863,693 shares of the company’s stock worth $507,934,000 after purchasing an additional 117,888 shares during the last quarter. BlackRock Inc. grew its stake in shares of Inspire Medical Systems by 6.9% in the first quarter. BlackRock Inc. now owns 2,282,100 shares of the company’s stock worth $534,171,000 after purchasing an additional 146,344 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of Inspire Medical Systems by 0.9% in the second quarter. Macquarie Group Ltd. now owns 1,540,495 shares of the company’s stock worth $281,402,000 after purchasing an additional 14,017 shares during the last quarter. Invesco Ltd. grew its stake in shares of Inspire Medical Systems by 9.8% in the first quarter. Invesco Ltd. now owns 885,306 shares of the company’s stock worth $227,249,000 after purchasing an additional 78,975 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Inspire Medical Systems by 7.5% in the first quarter. Wellington Management Group LLP now owns 632,988 shares of the company’s stock worth $162,482,000 after purchasing an additional 43,924 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Jefferies Financial Group assumed coverage on Inspire Medical Systems in a report on Friday, January 19th. They set a “buy” rating and a $245.00 price target for the company. TheStreet cut Inspire Medical Systems from a “c-” rating to a “d+” rating in a report on Thursday, October 26th. Mizuho lifted their price target on Inspire Medical Systems from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday. SVB Leerink started coverage on shares of Inspire Medical Systems in a research report on Monday, October 16th. They set a “market perform” rating and a $159.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of Inspire Medical Systems from $340.00 to $181.00 and set an “overweight” rating for the company in a research report on Tuesday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Inspire Medical Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $272.92.

Get Our Latest Stock Analysis on Inspire Medical Systems

About Inspire Medical Systems

(Get Free Report)

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.

Recommended Stories

Earnings History for Inspire Medical Systems (NYSE:INSP)

Receive News & Ratings for Inspire Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inspire Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.