Inspire Medical Systems

At the Wells Fargo conference, Inspire Medical said coding and reimbursement issues weighed on procedure volumes in 2026, but the company is operationally better positioned thanks to clearer Medicare rules and increasing acceptance of Inspire V. Second-quarter revenue fell about 7.5% but topped internal expectations and showed rising gross margins driven by product mix. With the $30 million efficiency program "Project Horizon", anticipated easing of reimbursement, and ongoing product development such as Inspire 6, management aims to return to revenue growth in 2027. » Altro su de.investing.com

Inspire Medical delivered an adjusted earnings per share of $0.14 and revenue of $200.6 million in the second quarter, beating consensus estimates despite a 7.6% year-over-year revenue decline due to coding and reimbursement issues. The stock rose sharply after the results as management highlighted improving trends in prior authorizations and stronger international performance. The company launched the restructuring plan "Project Horizon", plans to free up $30 million annually for growth investments, and raised its 2026 full-year guidance, while still expecting a third-quarter revenue decline of 8–10% with sequential improvement. Financial metrics show solid liquidity ($415 million cash) and no debt, although risks remain in executing reimbursement and restructuring measures. » Altro su de.investing.com

Bank of America downgraded Inspire Medical from "Neutral" to "Underperform" and cut the price target from $53 to $39, saying a unified coding process and an official CPT code for Inspire V are not expected before early 2028. The company lowered its 2026 revenue outlook to $825–875 million and expects diluted EPS of $0.07–0.62, underscoring near-term revenue and earnings risks. CEO Tim Herbert said the company is working with stakeholders on solutions but expects persistent challenges through the end of 2026. The stock fell to new multi-year lows and is about 70% below last year’s level; the main recovery catalyst remains clarity on the reimbursement rules for Inspire V. » Altro su de.investing.com