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Inspire Medical Systems was upgraded to the Zacks Rank #1 list on November 7, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Minneapolis, MN-based Inspire Medical is a medical technology company focused on the development and commercialization of innovative, minimally-invasive solutions for patients with obstructive sleep apnea (OSA). Its proprietary Inspire system is the first and only FDA-approved neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA. The company has developed a novel, closed-loop solution that continuously monitors a patient’s breathing and delivers mild hypoglossal nerve stimulation to maintain an open airway. A significant body of clinical data supports the safety and efficacy of Inspire therapy.
Nine analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.58 to $1.33 per share. INSP boasts an average earnings surprise of 649.9%.
Earnings are expected to grow 284.7% for the current fiscal year, while revenue is projected to increase 27.4%.
INSP has been moving higher over the past four weeks as well, up 5.8% compared to the S&P 500's gain of 1.5%.
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Inspire Medical Systems could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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Inspire Medical Systems, Inc. (INSP) : Free Stock Analysis Report
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