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Inspire (INSP) Soars 7.9%: Is Further Upside Left in the Stock?
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Inspire Medical Systems (INSP - Free Report) shares soared 7.9% in the last trading session to close at $176.89. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 14.4% loss over the past four weeks.
Inspired scored a strong price rise on investors’ optimism surrounding the company’s third-quarter 2022 earnings release which is scheduled on Nov 1, 2022. The Zacks Consensus Estimate for the third quarter revenue is pegged at $95.62 million indicating a 55% surge year over year.
This maker of devices for treating obstructive sleep apnea is expected to post quarterly loss of $0.75 per share in its upcoming report, which represents a year-over-year change of -97.4%. Revenues are expected to be $95.62 million, up 55% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Inspire, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on INSP going forward to see if this recent jump can turn into more strength down the road.
Inspire belongs to the Zacks Medical Info Systems industry. Another stock from the same industry, Syneos Health , closed the last trading session 3.1% higher at $48.19. Over the past month, SYNH has returned -9.2%.
For Syneos Health, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.32. This represents a change of +8.2% from what the company reported a year ago. Syneos Health currently has a Zacks Rank of #4 (Sell).
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Inspire (INSP) Soars 7.9%: Is Further Upside Left in the Stock?
Inspire Medical Systems (INSP - Free Report) shares soared 7.9% in the last trading session to close at $176.89. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 14.4% loss over the past four weeks.
Inspired scored a strong price rise on investors’ optimism surrounding the company’s third-quarter 2022 earnings release which is scheduled on Nov 1, 2022. The Zacks Consensus Estimate for the third quarter revenue is pegged at $95.62 million indicating a 55% surge year over year.
This maker of devices for treating obstructive sleep apnea is expected to post quarterly loss of $0.75 per share in its upcoming report, which represents a year-over-year change of -97.4%. Revenues are expected to be $95.62 million, up 55% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Inspire, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on INSP going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Inspire belongs to the Zacks Medical Info Systems industry. Another stock from the same industry, Syneos Health , closed the last trading session 3.1% higher at $48.19. Over the past month, SYNH has returned -9.2%.
For Syneos Health, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.32. This represents a change of +8.2% from what the company reported a year ago. Syneos Health currently has a Zacks Rank of #4 (Sell).