Stock Alert: Inspire Medical At New High On Q3 Results, Outlook

(RTTNews) - Shares of medical technology company, Inspire Medical Systems, Inc. (INSP) are rising more than 22% Tuesday morning after reporting better-than-expected third-quarter results. The company also raised full-year revenue outlook.

The stock touched a new high of $153.83 this morning and is currently trading at $149.92.

Net loss was $10.4 million or $0.39 per share in the third quarter compared with net loss of $8.2 million or $0.34 per share in the corresponding prior year period. On average 12 analysts polled by Thomson Reuters expected the company to report loss of $0.72 per share for the period.

Revenue for the quarter was $35.8 million, 72% increase over the same quarter last year.

Inspire Medical has raised its full year revenue guidance to between $110 million and $112 million, from prior guidance of $88 million to $92 million. The consensus estimate is for $90.19 million.