Stifel analyst Jonathan Block downgraded Inspire Medical to Hold from Buy with an unchanged price target of $210. While the GLP-1 net impact might be positive long-term, Stifel’s diligence “identifies potential near-term noise,” the analyst tells investors in a research note. The firm says most 2023 hypoglossal nerve stimulator procedures were patients with body mass indexes of greater than or equal to 30. These are the individuals most likely to be placed on weight loss drugs, says Stifel.
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