Analysts Anticipate Inspire Medical Systems (INSP) Will Post Quarterly Sales of $16.50 Million

Brokerages forecast that Inspire Medical Systems (NASDAQ:INSP) will announce $16.50 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Inspire Medical Systems’ earnings. The highest sales estimate is $16.80 million and the lowest is $16.20 million. Inspire Medical Systems reported sales of $10.94 million during the same quarter last year, which indicates a positive year-over-year growth rate of 50.8%. The business is scheduled to issue its next earnings report on Tuesday, August 6th.

On average, analysts expect that Inspire Medical Systems will report full-year sales of $71.60 million for the current fiscal year, with estimates ranging from $71.10 million to $72.00 million. For the next financial year, analysts expect that the company will report sales of $98.03 million, with estimates ranging from $95.00 million to $100.50 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Inspire Medical Systems.

Inspire Medical Systems (NASDAQ:INSP) last announced its earnings results on Tuesday, May 7th. The company reported ($0.35) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.39) by $0.04. The firm had revenue of $16.30 million during the quarter, compared to analysts’ expectations of $17.79 million. Inspire Medical Systems’s quarterly revenue was up 63.0% compared to the same quarter last year.

INSP has been the topic of several recent analyst reports. Dougherty & Co initiated coverage on shares of Inspire Medical Systems in a research note on Tuesday, February 5th. They issued a “buy” rating and a $64.00 price target on the stock. Zacks Investment Research raised shares of Inspire Medical Systems from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Tuesday, February 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $43.56.

INSP stock traded up $0.29 during trading on Monday, hitting $53.30. The company had a trading volume of 10,515 shares, compared to its average volume of 334,880. Inspire Medical Systems has a 52-week low of $27.30 and a 52-week high of $64.34.

In other Inspire Medical Systems news, Director Marilyn C. Nelson sold 152,985 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $51.66, for a total transaction of $7,903,205.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Randy Ban sold 10,074 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $50.09, for a total transaction of $504,606.66. The disclosure for this sale can be found here. Insiders sold a total of 293,074 shares of company stock worth $15,527,150 in the last ninety days.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. TD Asset Management Inc. boosted its position in shares of Inspire Medical Systems by 3.1% during the 1st quarter. TD Asset Management Inc. now owns 9,861 shares of the company’s stock valued at $560,000 after acquiring an additional 300 shares during the last quarter. Swiss National Bank increased its stake in Inspire Medical Systems by 3.5% during the first quarter. Swiss National Bank now owns 11,700 shares of the company’s stock worth $664,000 after purchasing an additional 400 shares during the period. Summit Partners Public Asset Management LLC increased its stake in Inspire Medical Systems by 2.0% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 28,522 shares of the company’s stock worth $1,205,000 after purchasing an additional 566 shares during the period. Voya Investment Management LLC increased its stake in Inspire Medical Systems by 12.0% during the first quarter. Voya Investment Management LLC now owns 5,461 shares of the company’s stock worth $310,000 after purchasing an additional 586 shares during the period. Finally, FinTrust Capital Advisors LLC purchased a new stake in Inspire Medical Systems during the first quarter worth about $34,000.

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). 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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Earnings History and Estimates for Inspire Medical Systems (NASDAQ:INSP)

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