Medical technology company Inspire Medical Systems (NYSE: INSP) will be announcing earnings results tomorrow after market close. Here’s what to expect.
Inspire Medical Systems beat analysts’ revenue expectations by 0.9% last quarter, reporting revenues of $239.7 million, up 24.5% year on year. It was a very strong quarter for the company, with an impressive 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.
This quarter, analysts are expecting Inspire Medical Systems’s revenue to grow 19% year on year to $195.2 million, slowing from the 28.2% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.23 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Inspire Medical Systems has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 3.2% on average.
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. Integer Holdings delivered year-on-year revenue growth of 7.3%, beating analysts’ expectations by 2%, and Bausch + Lomb reported revenues up 3.5%, falling short of estimates by 0.7%. Integer Holdings traded up 2.6% following the results while Bausch + Lomb was down 15.6%.
Read our full analysis of Integer Holdings’s results here and Bausch + Lomb’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 4.9% on average over the last month. Inspire Medical Systems is up 6.8% during the same time and is heading into earnings with an average analyst price target of $220.64 (compared to the current share price of $159.81).
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