Inspire Medical price target lowered to $135 from $150 at Piper Sandler

Piper Sandler lowered the firm’s price target on Inspire Medical (INSP) to $135 from $150 and keeps an Overweight rating on the shares. The firm notes the company reported Q3 results with revenue of $224.5M coming in above the Street’s $220.4M forecast, while GAAP EPS of 34c compared to the Street’s (20c.) On the Q3 EPS call, Inspire pointed Street models to +10%-11% top-line growth for FY2026 vs. consensus of about +14%. Piper doesn’t think this should come as much of a surprise to investors and, importantly, should improve the stock set-up heading into next year.