How to Buy Inspire Medical Systems Stock
Inspire Medical Systems Inc
Inspire Medical Systems, Inc. , a medical technology company, focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA).
Inspire Medical Systems stock last closed at $205.00, down 3.35% from the previous day, and has increased 12.37% in one year. It has overperformed other stocks in the Medical Devices industry by 0.1 percentage points. Inspire Medical Systems stock is currently +66.67% from its 52-week low of $123.00, and -20.36% from its 52-week high of $257.40.
As of Oct 3, 2024, there are 29.82M INSP shares outstanding. The market capitalization of INSP is $6.11B. In the past 24 hours, 646,708 INSP shares were traded.
How to Buy Inspire Medical Systems Stock
Wondering how to invest in Inspire Medical Systems stock? Here's how.
- Choose where to buy Inspire Medical Systems stock: You need to decide on a stock brokerage, but don't worry - we've tried dozens of online stock brokerages and apps to help you figure out where to buy Inspire Medical Systems stock.
- Sign up for your brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've selected.
- Put funds into your investment account: Select your method of payment and add your details.
- Analyze Inspire Medical Systems stock: The Inspire Medical Systems ticker symbol is INSP. Is Inspire Medical Systems stock a good investment? Should you buy shares of INSP? How do INSP's underlying business fundamentals look? Do top analysts think Inspire Medical Systems is a good buy? Why has INSP's stock price moved recently? (Hint: Our stock research tools can help you decide if INSP is a good stock to buy).
- Make your INSP trade: Decide if you will purchase INSP shares at the current market price or use a limit order to purchase INSP stock at a particular price.
- Get notifications regarding your INSP position: Create a watchlist to watch your new investment in Inspire Medical Systems stock.
Step 1: Choose where to buy Inspire Medical Systems stock
You need a brokerage account in order to access the NYSE market and buy INSP stock.
Our favorite brokerage: eToro
Based on our research, eToro is the best stock brokerage. Here's why:
- Invest in stocks with 0% commissions: Invest without paying trading commissions.
- Buy fractional shares: Even if you can't afford a full share, you can still invest in the stock.
- Access to world markets: From Tech to Financial Services, New York to Shanghai — you can fill your portfolio with stocks from the globe's top stock exchanges.
- Social investing: eToro offers a community of more than 20 million users worldwide. Talk to, learn from, and copy the unique crypto portfolios of top investors.
- Security: eToro is a regulated and licensed fintech leader.
- Buy other assets: Such as ETFs and cryptos.
Get $10 towards your purchase of shares by signing up for an account with eToro now.
Open eToro AccountStep 2: Sign up for your brokerage account
Now that you've chosen the right brokerage, it's time to fill out some personal information so you are able to buy INSP today.
How to Set Up a New Brokerage Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Enter your personal data to open your new trading account.
- Submit your details by clicking the "Create Account" button. Get started with eToro today
Step 3: Put funds into your investment account
Now that you have filled out your info on stock market app, you need to deposit funds:
Check out the video below to see the process of depositing funds into your new investment account.
Step 4: Analyze Inspire Medical Systems stock
Once you have figured out the best place to buy Inspire Medical Systems stock, it's very important to evaluate their stock before you buy, so you actually comprehend the risk and opportunity.
Inspire Medical Systems stock at a glance
Fundamentals of INSP
WallStreetZen was designed to help everyday investors do better fundamental analysis in minutes instead of hours.
You can see all of the due diligence checks on INSP's stock page.
What is the fair value of INSP stock?
Investors use many financial metrics, analyses, models, and charts to gauge INSP's fair value.
Using relative valuations metrics:
- INSP may be overvalued based on its P/E ratio of 976.19x, relative to Medical Devices industry P/E ratio of 41.77x
- INSP may be overvalued based on its P/B ratio of 9.58x, relative to Medical Devices industry P/B ratio of 3.99x
- INSP may be overvalued based on its PEG ratio of 7.68x
You can access additional valuation research on INSP's stock here.
Is INSP a healthy company?
Passed Health Checks:
- INSP has cash burn of 9423000. It has sufficient cash and short-term investments to cover this for at least one year.
- There are more short-term assets than long-term liabilities on the INSP balance sheet.
- INSP profit margin has gone up from -7.8% to 0.9% in the past year.
- Total INSP debt is lower than 5 years ago, relative to shareholder equity.
- There are more short-term assets than short-term liabilities on the INSP balance sheet.
- INSP has a low debt to equity ratio of 0.14.
- INSP has $439.66M in cash and short term investments. This is sufficient to cover its annual cash burn of $9.42M.
Is it a good time to buy INSP stock, according to analysts?
Out of 9 Wall Street analysts who track INSP, the consensus analyst rating on Inspire Medical Systems is a Buy
It's important to keep in mind that analyst forecasts are not recommendations, nor are they investment advice.
Most Recent INSP Analyst Upgrades/Downgrades
Kallum Titchmarsh, a top 49% analyst from Morgan Stanley maintains INSP with a strong buy rating and lowers their INSP price target from $250.00 to $210.00, on Jul 15, 2024.
Jonathan Block, a bottom 8% analyst from Stifel Nicolaus maintains INSP with a hold rating and lowers their INSP price target from $210.00 to $170.00, on Jun 24, 2024.
Bob Hopkins, a bottom 1% analyst from Bank of America maintains INSP with a hold rating and lowers their INSP price target from $225.00 to $185.00, on Jun 3, 2024.
Adam Maeder, a top 16% analyst from Piper Sandler maintains INSP with a strong buy rating and raises their INSP price target from $250.00 to $255.00, on May 8, 2024.
Piper Sandler's Adam Maeder raised their price target on Inspire Medical Systems (NYSE: INSP) by 2% from $250 to $255 on 2024/05/08. The analyst maintained their Strong Buy rating on the stock.
Inspire Medical Systems delivered somewhat higher than expected revenue and a far better than consensus EPS, Maeder reported after taking in the company's Q1 2024 earnings report, released on 2024/05/07.
However, the analyst noted that the most significant source of investor concern was the slightly lower-than-expected U.S. revenue.
Earnings Report
For Q1 2024, Inspire Medical Systems reported:
- Loss per share of $0.34, which beat Zacks Consensus Estimate of $(0.63) and, by 35.9%, Q1 2023’s $(0.53).
- Revenue of $164.01M, which beat the Zacks Consensus Estimate by 1.47% and, by 28.2%, Q1 2023’s $127.9M.
- Gross margin of 84.9%, compared to Q1 2023’s 84.4%.
For FY 2024, management guided:
- EPS of $0.10 to $0.20.
- Revenue of $783M to $793M which, if achieved, would represent a 25% to 27% increase Y/Y.
- Gross margin of 83% to 85%.
Chairman & CEO Tim Herbert commented: "We are pleased with our strong performance in Q1, growing revenue 28% Y/Y.
“Our revenue growth was again driven by increased market penetration in existing centers, expansion into new territories, and increased physician and patient awareness of our Inspire therapy.
"Given our strong performance in the quarter and our improved outlook for the remainder of 2024, we are increasing our revenue guidance and we now expect to be profitable for the FY 2024.”
You can dive deeper into what analysts are forecasting on the Inspire Medical Systems stock forecast page.
INSP Technicals
INSP Performance Metrics
Last year, INSP revenue was $705.71M. During the last 5 year, INSP's revenue has increased by 61.67% per year. This was faster than the Medical Devices industry average of 11.09%.
Find out more about INSP's earnings and revenue performance here.
Latest Insiders Trades at INSP
In the last 12 months, insiders at INSP have bought more shares than they have sold.
Shawn McCormick, Director of INSP, was the latest INSP insider to sell. They sold $176,000.00 worth of INSP stock on Sep 9, 2024.
Learn more about who owns INSP shares here.
Can I rely on INSP as an income stream?
No, Inspire Medical Systems doesn't provide an income stream by paying out dividends.
INSP Social Trading Data
One of the biggest reasons eToro is our top-rated brokerage is because of its social trading community.
Click below to see what other community members have to say.
Step 5: Make your INSP trade
You have two main types of orders:
- Market order: A market order is an order to buy or sell a security at the best available price.
Market orders are mostly the easiest way to buy. - Limit order: A limit order allows you to buy or sell a security at a specific price (or better).
If you want to ensure you're buying or selling at an exact dollar amount limit, place a limit order.
Press the Open Trade button and your broker will execute your order.
If you require more help buying stocks on eToro, watch the helpful video below:
Step 6: Get notifications regarding your INSP position
Now that you own some INSP shares, you'll want to stay up-to-date on your investment.
Put INSP on a watchlist to get the latest updates about your INSP stock.
INSP Feed
How to Buy Stock in Inspire Medical Systems
To reiterate, here are the 6 steps to buy Inspire Medical Systems stock:
- Choose where to buy Inspire Medical Systems stock
- Sign up for your brokerage account
- Put funds into your investment account
- Analyze Inspire Medical Systems stock
- Make your INSP trade
- Get notifications regarding your INSP position
If you need a brokerage, eToro is our favorite option.
Get Started with eToro TodayIf you want to get updates on your investment in Inspire Medical Systems, get started below.
Other "How To" Guides You May Like
FAQ
Company
AboutNewsBlogStock Investing FAQPlansPrivacy PolicyTerms of ServiceCancellation & RefundsHelp GuidesContactTwitterYouTubeNewsletterInformation is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.