Yahoo Finance Here's Why Inspire Medical Systems (INSP) is a Strong Momentum Stock
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
Inspire Medical Systems (INSP)
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.
INSP is a Zacks Rank #1 (Strong Buy) stock, with a Momentum Style Score of A and VGM Score of B. Shares are down 2.8% over the past one week and up 11.5% over the past four weeks. INSP has gained 1.5% in the last one-year period as well. Looking at trading volume, an average of 497,804.66 shares exchanged hands over the last 20 trading days.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Nine analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.59 to $0.75 per share. INSP boasts an average earnings surprise of 436.2%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding INSP to their portfolios.
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Inspire Medical Systems, Inc. (INSP) : Free Stock Analysis Report
