Inspire Medical Systems (NYSE:INSP) Releases Earnings Results, Beats Estimates By $0.41 EPS

Inspire Medical Systems (NYSE:INSP) issued its quarterly earnings data on Monday. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.41, Zacks reports. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock opened at $180.96 on Tuesday. Inspire Medical Systems has a twelve month low of $123.00 and a twelve month high of $257.40. The firm has a market cap of $5.42 billion, a P/E ratio of 169.12 and a beta of 1.32. The firm’s 50-day simple moving average is $189.72 and its 200-day simple moving average is $190.66.

Analyst Ratings Changes

A number of research firms have weighed in on INSP. Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $220.00 to $255.00 in a research report on Wednesday, November 20th. Wells Fargo & Company boosted their price objective on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Robert W. Baird lifted their price target on Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Finally, Piper Sandler dropped their target price on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research report on Monday. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $229.00.

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) in the United States and internationally. The company offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.