Inspire Medical Systems Stock Plunges 38% Following Q2 Reversal To Net Loss

(RTTNews) - Inspire Medical Systems, Inc. (INSP) shares dropped 38.05 percent to $80.50 on Tuesday after the company reported second-quarter financial results with a swing to net loss.

The medical technology company posted revenue of $217.1 million, an 11 percent increase from $195.9 million in the same quarter last year. However, it reported a net loss of $3.6 million, a sharp reversal from the $9.8 million net income reported in the prior-year period. The stock opened at $88.75 and traded between $73.92 and $89.51 on the New York Stock Exchange, during the session, with volume surging to over 7 million shares, well above the average of around 590,000. Inspire shares are now trading near the bottom of their 52-week range of $73.92 to $225.00, reflecting growing investor concern despite revenue growth.