Inspire Medical Systems Faces Limited Visibility, RBC Says

MT Newswires Live05-06

Inspire Medical Systems (INSP) has limited visibility on near- and medium-term trends after the firm lowered its 2026 revenue guidance due to impact of Inspire V coding headwinds, RBC Capital Markets said in a Monday note.

The report said the guidance cut is reflecting accelerated coding and reimbursement challenges to Inspire V, while additional WISeR/GLP-1 headwinds emerge.

The headwinds align with intra-quarter RBC Doctor Day checks that highlighted that several factors will likely continue to drive Inspire volumes lower throughout 2026, it said.

The report also said the medical technology company, which focuses on obstructive sleep apnea, doesn't expect a new CPT code for Inspire V until Jan. 1, 2028.

"We remain on the sidelines due to lack of visibility," the note said. RBC kept its Sector Perform rating while lowering its price target to $45 from $56.

Price: 45.71, Change: -9.13, Percent Change: -16.65

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