Inspire Medical Systems (NYSE:INSP) Downgraded by Robert W. Baird to Hold

Inspire Medical Systems (NYSE:INSP) was downgraded by analysts at Robert W. Baird from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

A number of other analysts have also weighed in on INSP. Wells Fargo & Company set a $70.00 price objective on shares of Inspire Medical Systems and gave the stock an “equal weight” rating in a research note on Thursday. Oppenheimer lowered shares of Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, January 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Inspire Medical Systems in a research note on Monday, December 29th. Mizuho decreased their price objective on Inspire Medical Systems from $130.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Zacks Research raised Inspire Medical Systems from a “strong sell” rating to a “hold” rating in a report on Monday, October 27th. Six research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Inspire Medical Systems currently has an average rating of “Hold” and an average target price of $110.65.

Inspire Medical Systems Stock Down 12.4%

Shares of NYSE:INSP opened at $59.74 on Thursday. Inspire Medical Systems has a 52-week low of $53.11 and a 52-week high of $197.75. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 6.88 and a beta of 0.74. The business has a 50-day moving average price of $94.42 and a 200-day moving average price of $91.48.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.96. Inspire Medical Systems had a net margin of 15.95% and a return on equity of 11.47%. The company had revenue of $269.08 million for the quarter, compared to the consensus estimate of $264.02 million. During the same quarter in the prior year, the company earned $1.15 EPS. Inspire Medical Systems’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, equities analysts anticipate that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Insider Activity

In other news, Director Shawn Mccormick sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $127.48, for a total transaction of $254,960.00. Following the sale, the director directly owned 26,046 shares in the company, valued at $3,320,344.08. This trade represents a 7.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Inspire Medical Systems

A number of hedge funds have recently bought and sold shares of the business. Manning & Napier Advisors LLC acquired a new stake in Inspire Medical Systems in the third quarter valued at approximately $32,000. CWM LLC lifted its position in shares of Inspire Medical Systems by 216.1% during the 4th quarter. CWM LLC now owns 354 shares of the company’s stock valued at $33,000 after buying an additional 242 shares in the last quarter. Havemeyer Place LP acquired a new stake in Inspire Medical Systems in the 4th quarter valued at $39,000. V Square Quantitative Management LLC acquired a new stake in Inspire Medical Systems in the 4th quarter valued at $40,000. Finally, Larson Financial Group LLC increased its holdings in Inspire Medical Systems by 21,266.7% in the 3rd quarter. Larson Financial Group LLC now owns 641 shares of the company’s stock worth $48,000 after acquiring an additional 638 shares in the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems News Roundup

Here are the key news stories impacting Inspire Medical Systems this week:

• Positive Sentiment: Q4 results beat and operational strength — Inspire posted $269.1M in Q4 revenue (↑12% y/y) and adjusted EPS of $1.65, topping estimates; gross margin expanded and operating cash flow and buybacks support cash returns. Earnings Release
• Neutral Sentiment: Full earnings package and call are available for deeper read — slide deck and transcript provide detail on assumptions behind the 2026 outlook and tax/adjustment impacts for modeling. Slide Deck / Press Release Call Transcript
• Negative Sentiment: Guidance cut and coding/reimbursement uncertainty — management narrowed FY2026 revenue to $950M–$1.0B and said the Inspire V procedure will likely transition to CPT 64582 with a -52 modifier, potentially lowering physician reimbursement and pressuring procedure volumes. That guidance revision is the primary driver of the selloff. MSN: Revenue Outlook & Coding
• Negative Sentiment: Immediate market reaction — analysts and headlines highlighted the coding/guidance risk and shares fell sharply despite the beat. Zacks: Stock Falls Despite Q4 Beat Investing.com: Shares Slide
• Negative Sentiment: Analyst price-target resets — multiple firms lowered targets (Jefferies to $66, Truist to $70, Mizuho to $85, Piper Sandler to $85) which increases near-term downside pressure even when some ratings remain constructive. Benzinga: Analyst Actions The Fly: Mizuho PT Cut
• Negative Sentiment: Bearish analysis and investor concerns — independent commentary highlights lingering risks around reimbursement, growth cadence and margin sustainability, reinforcing the negative sentiment. Seeking Alpha: Critical Take

About Inspire Medical Systems

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.