Inspire Medical Systems (INSP) Issues Quarterly Earnings Results

Share on StockTwits

Inspire Medical Systems (NASDAQ:INSP) released its quarterly earnings data on Tuesday. The company reported ($0.22) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.13, Briefing.com reports. The company had revenue of $13.10 million during the quarter, compared to analyst estimates of $12.86 million. The firm’s quarterly revenue was up 79.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($3.42) EPS. Inspire Medical Systems updated its FY 2018 guidance to EPS.

INSP stock traded up $6.45 during trading hours on Wednesday, hitting $52.58. The company’s stock had a trading volume of 325,700 shares, compared to its average volume of 184,378. Inspire Medical Systems has a 12 month low of $22.50 and a 12 month high of $57.87.

Hedge funds have recently bought and sold shares of the business. OppenheimerFunds Inc. bought a new stake in Inspire Medical Systems in the second quarter worth approximately $3,473,000. Redmile Group LLC bought a new stake in Inspire Medical Systems in the second quarter worth approximately $7,132,000. Schwab Charles Investment Management Inc. bought a new stake in Inspire Medical Systems in the second quarter worth approximately $1,451,000. FMR LLC bought a new stake in Inspire Medical Systems in the second quarter worth approximately $11,340,000. Finally, Millennium Management LLC bought a new stake in Inspire Medical Systems in the second quarter worth approximately $26,752,000.

Several research analysts have weighed in on INSP shares. Leerink Swann started coverage on shares of Inspire Medical Systems in a research note on Monday, October 29th. They issued an “outperform” rating and a $57.00 price objective on the stock. Zacks Investment Research upgraded shares of Inspire Medical Systems from a “sell” rating to a “hold” rating in a research note on Saturday, October 6th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Inspire Medical Systems currently has an average rating of “Buy” and a consensus target price of $40.86.

WARNING: “Inspire Medical Systems (INSP) Issues Quarterly Earnings Results” was reported by Week Herald and is the sole property of of Week Herald. If you are reading this article on another publication, it was illegally stolen and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://weekherald.com/2018/11/07/inspire-medical-systems-insp-issues-quarterly-earnings-results.html.

Inspire Medical Systems Company Profile

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). It offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.

See Also: S&P 500 Index

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.

Leave a Reply