Medical technology company Inspire Medical Systems (NYSE: INSP) will be announcing earnings results this Monday after the bell. Here’s what to expect.
Inspire Medical Systems beat analysts’ revenue expectations last quarter, reporting revenues of $204.6 million, up 1.6% year on year. It was a slower quarter for the company, with full-year revenue guidance missing analysts’ expectations significantly and a significant miss 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 10.3% year on year, a reversal from the 10.8% 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 Q2 results, giving us a hint as to what we can expect. Bausch + Lomb delivered year-on-year revenue growth of 9.1%, beating analysts’ expectations by 1.7%, and Baxter reported revenues up 5.3%, topping estimates by 6%. Bausch + Lomb traded up 2.7% following the results while Baxter was also up 5.7%.
Read our full analysis of Bausch + Lomb’s results here and Baxter’s results here.
Investors in the healthcare equipment and supplies segment have had steady hands going into earnings, with share prices flat over the last month. Inspire Medical Systems is up 3.6% during the same time and is heading into earnings with an average analyst price target of $51.43 (compared to the current share price of $51.21).
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