Inspire Medical Systems (INSP) Expected to Post Quarterly Sales of $10.70 Million

Wall Street analysts expect Inspire Medical Systems (NASDAQ:INSP) to post sales of $10.70 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Inspire Medical Systems’ earnings, with estimates ranging from $10.20 million to $11.20 million. The business is scheduled to issue its next earnings results on Tuesday, November 6th.

According to Zacks, analysts expect that Inspire Medical Systems will report full year sales of $43.75 million for the current financial year, with estimates ranging from $43.60 million to $43.90 million. For the next fiscal year, analysts expect that the business will post sales of $57.35 million per share, with estimates ranging from $56.60 million to $58.10 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Inspire Medical Systems.

Inspire Medical Systems (NASDAQ:INSP) last announced its quarterly earnings data on Tuesday, August 7th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.08. The company had revenue of $10.94 million during the quarter, compared to the consensus estimate of $9.30 million.

Several research firms have recently weighed in on INSP. Zacks Investment Research downgraded shares of Inspire Medical Systems from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Stifel Nicolaus began coverage on shares of Inspire Medical Systems in a research note on Tuesday, May 29th. They issued a “buy” rating and a $42.00 target price for the company. Guggenheim began coverage on shares of Inspire Medical Systems in a research note on Tuesday, May 29th. They issued a “buy” rating and a $40.00 target price for the company. Goldman Sachs Group began coverage on shares of Inspire Medical Systems in a research note on Tuesday, May 29th. They issued a “neutral” rating and a $25.00 target price for the company. Finally, Bank of America began coverage on shares of Inspire Medical Systems in a research note on Tuesday, May 29th. They issued a “neutral” rating and a $36.00 target price for the company. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $38.17.

Shares of INSP traded down $3.08 during trading hours on Wednesday, hitting $51.13. The company’s stock had a trading volume of 109,991 shares, compared to its average volume of 198,439. Inspire Medical Systems has a 52-week low of $22.50 and a 52-week high of $57.87.

Several institutional investors and hedge funds have recently bought and sold shares of INSP. Hodges Capital Management Inc. purchased a new position in shares of Inspire Medical Systems in the second quarter worth about $4,176,000. Massachusetts Financial Services Co. MA purchased a new position in Inspire Medical Systems during the second quarter valued at approximately $4,457,000. Gilder Gagnon Howe & Co. LLC purchased a new position in Inspire Medical Systems during the second quarter valued at approximately $5,010,000. Jennison Associates LLC purchased a new position in Inspire Medical Systems during the second quarter valued at approximately $3,185,000. Finally, Wasatch Advisors Inc. purchased a new position in Inspire Medical Systems during the second quarter valued at approximately $1,065,000.

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.

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