Inspire Medical Systems (INSP) revised its fiscal 2026 revenue guidance lower after the coding clarification by the Centers for Medicare & Medicaid Services regarding incorrect current procedural terminology coverage for hypoglossal nerve stimulation, Oppenheimer said Thursday.
Inspire Medical revised its fiscal 2026 revenue guidance to $950 million to $1 billion from $1.003 billion to $1.013 billion previously, versus Oppenheimer's estimate of $988 million and market consensus of $1.006 billion. The company estimates diluted earnings per share between $1.23 to $1.81, the report said.
Oppenheimer said a new billing code for the company's Inspire V sleep apnea treatment could take at least three years to take effect, and it remains unclear how the billing modifier could impact reimbursements. Maintaining Inspire V inventory is also a challenge, the report said.
Oppenheimer maintained a perform rating on Inspire Medical without a price target.
Shares of the company were down by more than 11% in recent trading.
Price: 60.44, Change: -7.77, Percent Change: -11.39
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