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Investing.com - Jefferies has reduced its price target on Inspire Medical (TASE:BLWV) Systems (NYSE:INSP) to $160.00 from $205.00 while maintaining a Buy rating on the stock. The medical device company, currently trading at $75.17, is showing strong financial fundamentals with a "GREAT" health score according to InvestingPro analysis, despite trading near its 52-week low.
The price target adjustment follows Inspire Medical’s second-quarter sales beat, which was offset by slower progress on the Inspire 5 rollout and impacts from GLP-1 medication trials.
These factors led Inspire Medical Systems to reset its fiscal year 2025 sales guidance lower to $900-$910 million, representing 12-13% year-over-year growth, down from the previous guidance of $940-$955 million, which had projected 17-19% growth.
The revised guidance falls below consensus estimates of $949 million, which had anticipated 18% growth for the medical device company.
Inspire Medical also provided third-quarter sales guidance of $219-$224 million, projecting 8-10% year-over-year growth for the period.
In other recent news, Inspire Medical Systems reported second-quarter revenue of $217.1 million, surpassing Wall Street’s forecast of $214.3 million. Despite this, the company posted a GAAP earnings per share loss of $0.12 and adjusted EPS of $0.45, beating the consensus expectations of a $0.20 loss. Several analyst firms have revised their outlooks for Inspire Medical Systems. Piper Sandler lowered its price target to $150.00, citing challenges with the Gen 5 product launch. RBC Capital also reduced its target to $180.00, highlighting a significant guidance reduction for 2025. Stifel adjusted its target to $140.00 due to lagging Inspire V facility activations. Truist Securities downgraded the stock from Buy to Hold, cutting the target to $125.00 amid growth concerns. Lastly, Mizuho (NYSE:MFG) lowered its target to $170.00 following a reduction in full-year guidance and adjusted earnings expectations.
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