Medical technology company Inspire Medical Systems (NYSE: INSP) will be announcing earnings results this Monday afternoon. Here’s what to expect.
Inspire Medical Systems beat analysts’ revenue expectations last quarter, reporting revenues of $269.1 million, up 12.2% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ full-year EPS guidance estimates.
Is Inspire Medical Systems a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Inspire Medical Systems’s revenue to be flat year on year, slowing from the 22.7% increase it recorded in the same quarter last year.
Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing in majority upward revisions over the last 30 days. Inspire Medical Systems has a history of exceeding Wall Street’s expectations.
Looking at Inspire Medical Systems’s peers in the healthcare equipment and supplies segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Bausch + Lomb delivered year-on-year revenue growth of 9.4%, beating analysts’ expectations by 2.2%, and Integer Holdings reported flat revenue, topping estimates by 2.8%. Bausch + Lomb traded up 1.1% following the results while Integer Holdings’s stock price was unchanged.
Read our full analysis of Bausch + Lomb’s results here and Integer Holdings’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 6% on average over the last month. Inspire Medical Systems is up 6.1% during the same time and is heading into earnings with an average analyst price target of $72.25 (compared to the current share price of $56.75).
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