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Inspire Medical Systems Inc. (NYSE: INSP): Making Its Way Up The Stock Market

Inspire Medical Systems Inc. (NYSE:INSP) shares, rose in value on Friday, 05/13/22, with the stock price up by 8.20% to the previous day’s close as strong demand from buyers drove the stock to $165.10.

Actively observing the price movement in the last trading, the stock closed the session at $152.59, falling within a range of $157.47 and $169.50. The value of beta (5-year monthly) was 1.57. Referring to stock’s 52-week performance, its high was $286.29, and the low was $142.74. On the whole, INSP has fluctuated by -36.71% over the past month.

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With the market capitalization of Inspire Medical Systems Inc. currently standing at about $4.93 billion, investors are eagerly awaiting this quarter’s results, scheduled for Aug 01, 2022 – Aug 05, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.62, which is expected to increase to -$0.38 for fiscal year -$2.11 and then to about -$1.38 by fiscal year 2023. Data indicates that the EPS growth is expected to be -37.00% in 2023, while the next year’s EPS growth is forecast to be 34.60%.

Analysts have estimated the company’s revenue for the quarter at $77.94 million, with a low estimate of $75.55 million and a high estimate of $82.42 million. According to the average forecast, sales growth in current quarter could jump up 47.20%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $341.22 million, representing an increase of 46.20% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 8 upward and no downward review(s) in last seven days. We see that INSP’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of INSP currently trading nearly -20.29% and -27.53% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 33.43, while the 7-day volatility ratio is showing 10.74% which for the 30-day chart, stands at 7.73%. Furthermore, Inspire Medical Systems Inc. (INSP)’s beta value is 1.65, and its average true range (ATR) is 14.86.

Data on historical trading for Inspire Medical Systems Inc. (NYSE:INSP) indicates that the trading volumes over the past 3 months, they’ve averaged 293.76K. According to company’s latest data on outstanding shares, there are 27.52 million shares outstanding.

Nearly 0.60% of Inspire Medical Systems Inc.’s shares belong to company insiders and institutional investors own 98.50% of the company’s shares. The stock has fallen by -28.24% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the INSP stock heading into the next quarter.

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