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

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

INSP has been the subject of a number of other research reports. Wolfe Research raised shares of Inspire Medical Systems from a “peer perform” rating to an “outperform” rating and set a $180.00 price objective for the company in a research note on Tuesday, November 25th. KeyCorp reiterated a “sector weight” rating on shares of Inspire Medical Systems in a report on Tuesday, November 4th. Wells Fargo & Company set a $70.00 price objective on Inspire Medical Systems and gave the stock an “equal weight” rating in a research note on Thursday. Royal Bank Of Canada dropped their price objective on Inspire Medical Systems from $90.00 to $68.00 and set a “sector perform” rating on the stock in a research report on Thursday. Finally, Stifel Nicolaus set a $95.00 target price on Inspire Medical Systems in a research note on Thursday. Six equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $110.65.

Inspire Medical Systems Price Performance

NYSE:INSP opened at $59.74 on Thursday. Inspire Medical Systems has a 1-year low of $53.11 and a 1-year high of $197.75. The company has a 50-day moving average of $94.42 and a 200 day moving average of $91.48. The firm has a market cap of $1.74 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 6.88 and a beta of 0.74.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $1.65 EPS for the quarter, beating 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 business had revenue of $269.08 million during the quarter, compared to analyst estimates of $264.02 million. During the same quarter in the previous year, the business posted $1.15 EPS. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. Sell-side analysts anticipate that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Shawn Mccormick sold 2,000 shares of the company’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 transaction, the director directly owned 26,046 shares of the company’s stock, valued at $3,320,344.08. This represents a 7.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Inspire Medical Systems

A number of large investors have recently modified their holdings of INSP. HRT Financial LP raised its position in shares of Inspire Medical Systems by 166.5% in the 4th quarter. HRT Financial LP now owns 121,761 shares of the company’s stock valued at $11,230,000 after purchasing an additional 76,080 shares during the last quarter. Brooklyn Investment Group acquired a new position in Inspire Medical Systems during the 4th quarter valued at approximately $307,000. Renaissance Technologies LLC increased its stake in Inspire Medical Systems by 165.0% during the 4th quarter. Renaissance Technologies LLC now owns 410,768 shares of the company’s stock valued at $37,885,000 after purchasing an additional 255,768 shares in the last quarter. Counterpoint Mutual Funds LLC raised its holdings in shares of Inspire Medical Systems by 30.0% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 5,488 shares of the company’s stock worth $506,000 after buying an additional 1,267 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Inspire Medical Systems during the fourth quarter worth $222,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Key Headlines Impacting Inspire Medical Systems

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.