FY2024 Earnings Forecast for INSP Issued By Leerink Partnrs

Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) - Analysts at Leerink Partnrs raised their FY2024 earnings estimates for Inspire Medical Systems in a report released on Monday, November 4th. Leerink Partnrs analyst M. Kratky now anticipates that the company will earn $1.38 per share for the year, up from their prior forecast of $0.79. The consensus estimate for Inspire Medical Systems' current full-year earnings is $0.75 per share. Leerink Partnrs also issued estimates for Inspire Medical Systems' Q1 2025 earnings at ($0.25) EPS, Q2 2025 earnings at $0.41 EPS, Q3 2025 earnings at $0.48 EPS, FY2025 earnings at $1.76 EPS, FY2026 earnings at $2.67 EPS and FY2027 earnings at $3.63 EPS.

Several other equities research analysts have also recently issued reports on INSP. Stifel Nicolaus restated a "hold" rating and set a $200.00 price objective (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday. Wells Fargo & Company raised their price objective on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the stock an "equal weight" rating in a research report on Tuesday. KeyCorp dropped their price target on shares of Inspire Medical Systems from $278.00 to $236.00 and set an "overweight" rating for the company in a research report on Wednesday, August 7th. Leerink Partners lifted their price target on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a "market perform" rating in a research report on Tuesday, September 10th. Finally, Piper Sandler reiterated an "overweight" rating and set a $260.00 price target (up from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Inspire Medical Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $227.75.

Inspire Medical Systems Stock Performance

Shares of NYSE:INSP traded down $11.16 during midday trading on Thursday, hitting $200.47. The company's stock had a trading volume of 486,838 shares, compared to its average volume of 601,344. The business's 50 day simple moving average is $201.94 and its 200 day simple moving average is $179.94. The company has a market cap of $5.98 billion, a P/E ratio of 187.43 and a beta of 1.36. Inspire Medical Systems has a 12-month low of $123.00 and a 12-month high of $257.40.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.54. The firm had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.51%. The business's quarterly revenue was up 32.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.29) earnings per share.

Hedge Funds Weigh In On Inspire Medical Systems

Institutional investors and hedge funds have recently made changes to their positions in the stock. SouthState Corp purchased a new stake in shares of Inspire Medical Systems in the 2nd quarter worth about $27,000. Farther Finance Advisors LLC boosted its position in shares of Inspire Medical Systems by 1,158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company's stock worth $32,000 after buying an additional 139 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Inspire Medical Systems by 559.3% in the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company's stock worth $38,000 after buying an additional 151 shares in the last quarter. Quarry LP boosted its position in shares of Inspire Medical Systems by 105.4% in the 2nd quarter. Quarry LP now owns 343 shares of the company's stock worth $46,000 after buying an additional 176 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Inspire Medical Systems in the 2nd quarter worth about $53,000. 94.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 800 shares of the company's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the sale, the director now owns 23,140 shares in the company, valued at $5,090,800. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the business's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the transaction, the director now directly owns 23,140 shares of the company's stock, valued at approximately $5,090,800. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Randy Ban sold 4,861 shares of the business's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the transaction, the insider now directly owns 3,056 shares in the company, valued at $576,208.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,692 shares of company stock worth $1,099,207. 4.10% of the stock is currently owned by insiders.

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.