Freedom Capital Markets maintains Buy rating on Inspire Medical Systems, $97 price target

Inspire Medical Systems (INSP) reported a 7.6% revenue decline to $200.6M in Q2, with US sales driving the drop. Despite this, the company boasts an 85.5% gross margin, $415.2M in cash, and raised 2026 revenue guidance to $835M-$875M. The AMA approved new billing codes for its Inspire V system, a key reimbursement milestone. However, the stock trades at a high forward P/E of 59.17, reflecting investor optimism about future earnings.

Inspire Medical Systems (INSP) received AMA approval for new CPT codes covering hypoglossal nerve stimulation procedures, including its Inspire V system. The codes, effective January 1, 2028, aim to simplify reimbursement and expand patient access. CMS will determine reimbursement values, with proposed valuations expected in July 2027. INSP stock closed at $70.78, up 2.05%.

Inspire Medical Systems (INSP) announced AMA CPT Editorial Panel approval for new Category I CPT codes covering its Inspire V system. Valuations are expected in 2027, with codes effective January 1, 2028. The approval supports reimbursement clarity and adoption trends for the next-gen system, according to the company.

Inspire Medical Systems (INSP) announced the AMA approved new CPT codes for its Inspire V system, effective January 1, 2028. The company expects this to streamline reimbursement and expand patient access. CMS will determine Medicare payments for the new codes, with proposed valuations expected in July 2027 and final valuations in November 2027.

Inspire Medical Systems (INSP) stock rose 7.4% after Stifel raised its price target to $80.00, citing positive sentiment. Shares later cooled to $70.71, up 3.8%. The company's shares are volatile, with significant moves tied to regulatory changes and analyst upgrades. INSP is down 23.4% YTD and 50.9% off its 52-week high.

Inspire Medical Systems (INSP) reported Q2 2026 adjusted EPS of $0.14, beating estimates, and raised its 2026 revenue and earnings guidance. Despite U.S. coding and reimbursement challenges, international revenues supported the revised outlook. The stock has seen volatility, with a 50.86% 90-day return but a 32.65% YTD decline. Analysts' price targets range from $40 to $85, with a consensus of $60.40, suggesting a 3% overvaluation.