Stifel Nicolaus analyst Jonathan Block upgraded the rating on Inspire Medical Systems to a Buy yesterday, setting a price target of $110.00.
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Jonathan Block has given his Buy rating due to a combination of factors that suggest a positive outlook for Inspire Medical Systems. One significant reason is the substantial increase in reimbursement rates for the company’s procedures, which is expected to enhance revenue growth in the coming years. The recent change in the reimbursement policy, particularly the creation of a new tech code, has led to a dramatic rise in payment rates for Inspire’s procedures at both hospitals and ambulatory surgical centers.
Additionally, previous challenges that the company faced are now turning into advantages. For instance, patient warehousing, which was a concern, is anticipated to boost volumes as more centers adopt Inspire’s technology. Furthermore, increased advertising spending, which had been reduced in the past, is expected to drive higher volumes in the future. The competitive landscape also appears favorable, with Inspire’s competitors facing slower progress. These factors, combined with improved market estimates for 2026, support the Buy rating.