Inspire Medical Systems (INSP) ended the recent trading session at $241.66, demonstrating a -0.8% swing from the preceding day’s closing price. The stock outperformed the S&P 500, which registered a daily loss of 1.57%. Meanwhile, the Dow lost 1.49%, and the Nasdaq, a tech-heavy index, lost 2.04%.
The the stock of maker of devices for treating obstructive sleep apnea has risen by 16.21% in the past month, leading the Medical sector’s loss of 6.09% and the S&P 500’s loss of 2.5%.
The upcoming earnings release of Inspire Medical Systems will be of great interest to investors. The company’s earnings report is expected on May 7, 2024. It is anticipated that the company will report an EPS of -$0.63, marking a 18.87% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $161.63 million, indicating a 26.37% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.35 per share and a revenue of $782.86 million, representing changes of +51.39% and +25.3%, respectively, from the prior year.
Any recent changes to analyst estimates for Inspire Medical Systems should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we’ve formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there’s been no change in the Zacks Consensus EPS estimate. Right now, Inspire Medical Systems possesses a Zacks Rank of #1 (Strong Buy).
The Medical Info Systems industry is part of the Medical sector. With its current Zacks Industry Rank of 95, this industry ranks in the top 38% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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