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Investing.com - Inspire Medical Systems (NYSE:INSP), which has seen its shares decline over 50% in the past six months, announced that Chief Financial Officer Rick Buchholz will step down from his position, while KeyBanc maintained its Sector Weight rating on the stock. According to InvestingPro data, the company maintains strong financial health with a "GREAT" overall score, despite recent market challenges.
The company disclosed that Buchholz intends to pursue other professional opportunities but will remain in his current role through December 31, 2025.
After stepping down as CFO, Buchholz will transition to a financial advisory role until February 28, 2026, to ensure a stable leadership transition.
Inspire Medical Systems has initiated a formal search process for a new CFO, which KeyBanc analyst Brett Fishbin believes will likely result in hiring an external candidate.
The company reaffirmed its current 2025 guidance for both revenue and earnings per share as part of the announcement.
In other recent news, Inspire Medical Systems reported its second-quarter revenue at $217.1 million, surpassing Wall Street’s forecast of $214.3 million. Despite this revenue beat, the company posted a GAAP earnings per share loss of $0.12, with an adjusted EPS of $0.45, which was better than the expected $0.20 loss. The company’s Board of Directors has also authorized a $200 million stock buyback program, set to run through August 2027. Additionally, Inspire Medical’s CFO, Rick Buchholz, will step down at the end of 2025, though he will remain in an advisory role until February 2026.
Analysts have been adjusting their price targets for Inspire Medical. Jefferies lowered its target to $160 from $205, maintaining a Buy rating, while Piper Sandler reduced its target to $150 from $233, citing challenges with the Gen 5 product launch. RBC Capital also decreased its price target to $180 from $215, following the company’s guidance reduction for 2025 due to slower-than-expected growth of the Inspire V product. These developments reflect a period of transition and strategic adjustments for Inspire Medical Systems.
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