Inspire Medical Systems (NASDAQ:INSP) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Inspire Medical Systems (NASDAQ:INSP) issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.04, Briefing.com reports. The business had revenue of $16.30 million during the quarter, compared to analysts’ expectations of $17.79 million. The company’s revenue was up 63.0% compared to the same quarter last year.

Inspire Medical Systems stock opened at $55.10 on Friday. Inspire Medical Systems has a fifty-two week low of $27.30 and a fifty-two week high of $64.34.

In related news, CEO Timothy P. Herbert sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $56.47, for a total value of $847,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Marilyn C. Nelson sold 152,985 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $51.66, for a total transaction of $7,903,205.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 403,506 shares of company stock worth $21,465,059.

Hedge funds have recently made changes to their positions in the business. Morgan Stanley raised its position in shares of Inspire Medical Systems by 187.4% during the 1st quarter. Morgan Stanley now owns 1,390,914 shares of the company’s stock valued at $78,975,000 after buying an additional 907,003 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of Inspire Medical Systems by 416.4% during the 1st quarter. William Blair Investment Management LLC now owns 1,096,095 shares of the company’s stock valued at $62,236,000 after buying an additional 883,826 shares in the last quarter. BlackRock Inc. raised its position in shares of Inspire Medical Systems by 21.7% during the 1st quarter. BlackRock Inc. now owns 979,876 shares of the company’s stock valued at $55,638,000 after buying an additional 174,405 shares in the last quarter. Lord Abbett & CO. LLC raised its position in shares of Inspire Medical Systems by 227.2% during the 4th quarter. Lord Abbett & CO. LLC now owns 780,357 shares of the company’s stock valued at $32,970,000 after buying an additional 541,844 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its position in shares of Inspire Medical Systems by 91.1% during the 1st quarter. OppenheimerFunds Inc. now owns 528,999 shares of the company’s stock valued at $30,037,000 after buying an additional 252,178 shares in the last quarter.

A number of brokerages have recently issued reports on INSP. Zacks Investment Research cut Inspire Medical Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Dougherty & Co assumed coverage on Inspire Medical Systems in a research note on Tuesday, February 5th. They issued a “buy” rating and a $64.00 target price on the stock.

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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 for Inspire Medical Systems (NASDAQ:INSP)

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