Inspire Medical Systems (NYSE:INSP) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Inspire Medical Systems (NYSE:INSP) posted its quarterly earnings data on Monday. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05, FiscalAI reports. The company had revenue of $206.69 million for the quarter, compared to analysts’ expectations of $204.31 million. Inspire Medical Systems had a net margin of 15.03% and a return on equity of 8.64%.

Inspire Medical Systems Stock Performance

NYSE:INSP traded down $0.58 during mid-day trading on Monday, reaching $67.52. The stock had a trading volume of 1,075,926 shares, compared to its average volume of 1,045,679. The stock has a market capitalization of $1.95 billion, a P/E ratio of 14.61, a P/E/G ratio of 5.15 and a beta of 0.73. The firm has a 50 day moving average price of $68.59 and a two-hundred day moving average price of $58.94. Inspire Medical Systems has a one year low of $38.91 and a one year high of $147.03.

Insider Buying and Selling

In other Inspire Medical Systems news, insider Jason Kelly sold 963 shares of Inspire Medical Systems stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $59.55, for a total transaction of $57,346.65. Following the transaction, the insider directly owned 18,985 shares of the company’s stock, valued at approximately $1,130,556.75. This trade represents a 4.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on INSP. Mizuho set a $75.00 price target on shares of Inspire Medical Systems in a research note on Tuesday, October 13th. Royal Bank Of Canada raised their price objective on shares of Inspire Medical Systems from $60.00 to $75.00 and gave the company a “sector perform” rating in a research report on Thursday, October 1st. Zacks Research cut shares of Inspire Medical Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 22nd. KeyCorp reaffirmed a “sector weight” rating on shares of Inspire Medical Systems in a report on Tuesday, August 4th. Finally, UBS Group initiated coverage on shares of Inspire Medical Systems in a research report on Tuesday, July 28th. They issued a “sell” rating and a $39.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Inspire Medical Systems presently has a consensus rating of “Hold” and an average target price of $68.82.

About Inspire Medical Systems

Inspire Medical Systems, Inc develops and commercializes medical devices for the treatment of obstructive sleep apnea (OSA), a condition in which the upper airway repeatedly narrows or becomes blocked during sleep. The company’s primary product is Inspire therapy, an implantable system designed to help keep the airway open by stimulating the hypoglossal nerve, which controls muscles involved in maintaining airway patency.

Inspire therapy is intended for certain adults with moderate to severe OSA who are unable to use or obtain consistent benefit from continuous positive airway pressure (CPAP) therapy.