Medical technology company Inspire Medical Systems (NYSE: INSP) will be reporting results tomorrow after market close. Here’s what you need to know.
Inspire Medical Systems beat analysts’ revenue expectations last quarter, reporting revenues of $200.6 million, down 7.6% year on year. It was an exceptional quarter for the company, with an impressive 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 decline 8.9% year on year, a reversal from the 10.5% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. 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 Q3 results, giving us a hint as to what we can expect. Bausch + Lomb delivered year-on-year revenue growth of 7.3%, meeting analysts’ expectations, and Integer Holdings reported a revenue decline of 3.9%, falling short of estimates by 1.4%. Bausch + Lomb traded up 15.8% 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 3.2% on average over the last month. Inspire Medical Systems is down 3.8% during the same time and is heading into earnings with an average analyst price target of $68 (compared to the current share price of $68.04).
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