Inspire Medical Systems (NYSE:INSP – Get Free Report) issued its earnings results on Tuesday. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.29, Briefing.com reports. The business had revenue of $164.01 million for the quarter, compared to the consensus estimate of $161.41 million. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The business’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.53) earnings per share. Inspire Medical Systems updated its FY24 guidance to $0.10-0.20 EPS.
Inspire Medical Systems Stock Performance
INSP stock traded down $83.49 on Wednesday, reaching $162.14. The company had a trading volume of 3,606,682 shares, compared to its average volume of 555,409. The company’s fifty day moving average is $215.94 and its 200 day moving average is $190.56. The company has a market cap of $4.91 billion, a P/E ratio of -233.89 and a beta of 1.35. Inspire Medical Systems has a 1 year low of $123.27 and a 1 year high of $330.00.
Insiders Place Their Bets
In related news, CFO Richard Buchholz sold 15,000 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $230.03, for a total value of $3,450,450.00. Following the completion of the transaction, the chief financial officer now owns 28,271 shares of the company’s stock, valued at approximately $6,503,178.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Inspire Medical Systems news, CFO Richard Buchholz sold 15,000 shares of Inspire Medical Systems stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $230.03, for a total value of $3,450,450.00. Following the completion of the sale, the chief financial officer now directly owns 28,271 shares of the company’s stock, valued at approximately $6,503,178.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy P. Herbert sold 40,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $205.09, for a total value of $8,203,600.00. Following the sale, the chief executive officer now owns 63,658 shares in the company, valued at approximately $13,055,619.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,371 shares of company stock valued at $15,664,278. Corporate insiders own 4.10% of the company’s stock.
Wall Street Analyst Weigh In
Get Our Latest Stock Analysis on INSP
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.
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