Analyst Larry Biegelsen of Wells Fargo maintained a Hold rating on Inspire Medical Systems (INSP – Research Report), reducing the price target to $174.00.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Larry Biegelsen has given his Hold rating due to a combination of factors impacting Inspire Medical Systems. The company reported a strong first quarter with sales exceeding expectations, particularly in the U.S. market. However, the upcoming launch of Inspire V is expected to create temporary challenges, leading to a more back-loaded sales year. This has resulted in a lowered price target from $195 to $174, reflecting a cautious outlook despite the positive start to the year.
Management’s guidance for 2025 sales remains unchanged, but the anticipated transition period for the Inspire V launch is likely to affect second-quarter sales negatively. While the company has raised its full-year EPS guidance, increased spending on marketing and research for Inspire V is expected to impact short-term earnings. These factors contribute to the Hold rating, as the stock’s near-term performance may be hindered by these transitional dynamics.
In another report released on April 21, Stifel Nicolaus also maintained a Hold rating on the stock with a $175.00 price target.