Inspire Medical Systems (NASDAQ:INSP) issued its quarterly earnings results on Tuesday. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.08, Bloomberg Earnings reports. The firm had revenue of $10.94 million for the quarter, compared to the consensus estimate of $9.30 million.

Shares of INSP traded up $1.42 during trading hours on Wednesday, hitting $47.82. 6,775 shares of the company were exchanged, compared to its average volume of 216,489. Inspire Medical Systems has a one year low of $22.50 and a one year high of $49.03.

INSP has been the subject of a number of research reports. Stifel Nicolaus initiated coverage on Inspire Medical Systems in a research note on Tuesday, May 29th. They set a “buy” rating and a $42.00 price target for the company. Goldman Sachs Group initiated coverage on Inspire Medical Systems in a research note on Tuesday, May 29th. They set a “neutral” rating and a $25.00 price target for the company. Guggenheim initiated coverage on Inspire Medical Systems in a research note on Tuesday, May 29th. They set a “buy” rating and a $40.00 price target for the company. Bank of America initiated coverage on Inspire Medical Systems in a research note on Tuesday, May 29th. They set a “neutral” rating and a $36.00 price target for the company. Finally, Wells Fargo & Co initiated coverage on Inspire Medical Systems in a research note on Tuesday, May 29th. They set an “outperform” rating and a $38.00 price target for the company. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $38.17.

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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