Inspire Medical Systems, Inc. (NYSE:INSP) Expected to Post Quarterly Sales of $64.87 Million

Wall Street brokerages expect Inspire Medical Systems, Inc. (NYSE:INSP – Get Rating) to report $64.87 million in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Inspire Medical Systems’ earnings. The lowest sales estimate is $57.90 million and the highest is $70.66 million. Inspire Medical Systems posted sales of $40.35 million in the same quarter last year, which suggests a positive year over year growth rate of 60.8%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Inspire Medical Systems will report full year sales of $326.74 million for the current financial year, with estimates ranging from $321.90 million to $337.58 million. For the next year, analysts forecast that the firm will post sales of $431.63 million, with estimates ranging from $399.90 million to $466.16 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Inspire Medical Systems.

Inspire Medical Systems (NYSE:INSP – Get Rating) last announced its quarterly earnings data on Tuesday, February 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.38. The business had revenue of $78.40 million for the quarter, compared to the consensus estimate of $75.60 million. Inspire Medical Systems had a negative net margin of 18.01% and a negative return on equity of 18.84%. The company’s quarterly revenue was up 70.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.28) earnings per share.

INSP has been the topic of a number of recent analyst reports. Bank of America initiated coverage on shares of Inspire Medical Systems in a research note on Wednesday, March 2nd. They set a “buy” rating on the stock. Truist Financial initiated coverage on shares of Inspire Medical Systems in a research report on Tuesday. They issued a “buy” rating and a $315.00 price objective for the company. Wolfe Research initiated coverage on shares of Inspire Medical Systems in a research report on Tuesday, April 5th. They issued a “market perform” rating and a $270.00 price objective for the company. SVB Leerink increased their price objective on shares of Inspire Medical Systems from $270.00 to $273.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 9th. Finally, Zacks Investment Research raised shares of Inspire Medical Systems from a “hold” rating to a “buy” rating and set a $287.00 price objective for the company in a research report on Tuesday. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Inspire Medical Systems presently has an average rating of “Buy” and an average target price of $296.43.

NYSE:INSP traded down $14.83 during trading hours on Monday, reaching $246.04. 321,586 shares of the company were exchanged, compared to its average volume of 240,868. The company has a debt-to-equity ratio of 0.07, a quick ratio of 6.08 and a current ratio of 6.50. Inspire Medical Systems has a 52-week low of $159.18 and a 52-week high of $286.29. The stock has a 50 day simple moving average of $238.32 and a 200 day simple moving average of $238.76.

In related news, CEO Timothy P. Herbert sold 695 shares of Inspire Medical Systems stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $250.00, for a total value of $173,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Richard Buchholz sold 15,000 shares of Inspire Medical Systems stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $258.67, for a total transaction of $3,880,050.00. Following the completion of the sale, the chief financial officer now owns 47,176 shares in the company, valued at $12,203,015.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,143 shares of company stock worth $12,848,826. Insiders own 5.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its stake in Inspire Medical Systems by 8.4% during the 4th quarter. Fifth Third Bancorp now owns 1,642 shares of the company’s stock valued at $378,000 after buying an additional 127 shares during the period. EAM Investors LLC acquired a new position in shares of Inspire Medical Systems in the 3rd quarter worth approximately $2,327,000. Voloridge Investment Management LLC grew its stake in shares of Inspire Medical Systems by 225.3% in the 3rd quarter. Voloridge Investment Management LLC now owns 63,968 shares of the company’s stock worth $14,897,000 after purchasing an additional 44,301 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of Inspire Medical Systems by 17.7% in the 3rd quarter. William Blair Investment Management LLC now owns 895,976 shares of the company’s stock worth $208,655,000 after purchasing an additional 134,501 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new position in shares of Inspire Medical Systems in the 3rd quarter worth approximately $1,316,000. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

About Inspire Medical Systems (Get Rating)

Inspire Medical Systems, Inc engages in the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea. It offers inspire therapy, which consists of a remote control and implantable components that includes pressure sensing lead, a neurostimulator, and a stimulation lead.

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