Yahoo Finance Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
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 sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of A, and has a VGM Score of B. The stock is down 2.6% and up 2.4% over the past one-week and four-week period, respectively, and Inspire Medical Systems has lost 48.4% in the last one-year period as well. Additionally, an average of 448,618.75 shares were traded over the last 20 trading sessions.
Momentum investors also pay close attention to a company's earnings. For INSP, eight analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.47 to $0.16 per share for 2024. INSP boasts an average earnings surprise of 359%.
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
