SVB Leerink Comments on Inspire Medical Systems’ Q1 2021 Earnings (NYSE:INSP)

Inspire Medical Systems (NYSE:INSP) – SVB Leerink decreased their Q1 2021 earnings per share (EPS) estimates for shares of Inspire Medical Systems in a report released on Tuesday, September 8th. SVB Leerink analyst R. Newitter now anticipates that the company will post earnings per share of ($0.61) for the quarter, down from their previous forecast of ($0.60). SVB Leerink has a “Outperform” rating and a $150.00 price objective on the stock. SVB Leerink also issued estimates for Inspire Medical Systems’ Q4 2021 earnings at ($0.27) EPS, FY2021 earnings at ($1.79) EPS and FY2022 earnings at ($1.05) EPS.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.88) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.08) by $0.20. The company had revenue of $12.18 million for the quarter, compared to analyst estimates of $31.06 million. Inspire Medical Systems had a negative net margin of 69.69% and a negative return on equity of 35.04%. The company’s quarterly revenue was down 32.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.32) EPS.

INSP has been the subject of a number of other research reports. Goldman Sachs Group started coverage on shares of Inspire Medical Systems in a report on Wednesday, July 15th. They set a “buy” rating and a $148.00 price objective for the company. Bank of America downgraded Inspire Medical Systems from a “buy” rating to a “neutral” rating and set a $115.00 price objective on the stock. in a research report on Thursday, August 6th. Robert W. Baird initiated coverage on Inspire Medical Systems in a research note on Tuesday, September 1st. They issued an “outperform” rating and a $130.00 target price on the stock. Lake Street Capital increased their target price on Inspire Medical Systems from $100.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Wells Fargo & Company raised their price objective on Inspire Medical Systems from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $105.36.

Inspire Medical Systems stock opened at $122.57 on Friday. Inspire Medical Systems has a 1-year low of $40.53 and a 1-year high of $127.68. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of -54.00 and a beta of 1.39. The firm’s fifty day moving average price is $109.46 and its two-hundred day moving average price is $85.18. The company has a current ratio of 20.48, a quick ratio of 19.72 and a debt-to-equity ratio of 0.11.

In other news, VP Steven Jandrich sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the sale, the vice president now directly owns 3,818 shares in the company, valued at approximately $419,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Chau Quang Khuong sold 29,251 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $109.93, for a total transaction of $3,215,562.43. The disclosure for this sale can be found here. Insiders have sold a total of 469,714 shares of company stock worth $47,657,721 in the last three months. Insiders own 6.60% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Two Sigma Investments LP bought a new stake in shares of Inspire Medical Systems in the 1st quarter valued at about $948,000. Nuveen Asset Management LLC boosted its stake in Inspire Medical Systems by 16.0% in the 1st quarter. Nuveen Asset Management LLC now owns 65,427 shares of the company’s stock worth $3,944,000 after purchasing an additional 9,017 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in Inspire Medical Systems in the 1st quarter worth approximately $247,000. Advisor Group Holdings Inc. acquired a new stake in Inspire Medical Systems in the 1st quarter worth approximately $1,106,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Inspire Medical Systems by 1,209.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 26,770 shares of the company’s stock worth $1,614,000 after purchasing an additional 24,726 shares in the last quarter.

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

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