Inspire Medical price target raised to $128 from $84 at Truist

Truist raised the firm’s price target on Inspire Medical (INSP) to $128 from $84 and keeps a Hold rating on the shares. The firm cites a higher multiple following CMS’s 2026 OPPS Final Rule that included an unexpected increase to Inspire’s HOPD & ASC reimbursement. At a minimum, Truist has increased confidence in its 2026-2027 estimated achievability through a combo of potential ASP support/uplift and/or better economic incentive at the provider level to lean into higher HNS volumes — even as the company contends with headwinds related to capacity utilization bottlenecks, slower than expected I-5 rollout, and possible incremental surgery delays from GLP1 trialing and/or emerging competition in 2026-plus.