Piper Sandler raised the firm’s price target on Inspire Medical (INSP) to $260 from $255 and keeps an Overweight rating on the shares. The firm notes the company reported strong Q3 results with the top-line coming in comfortably above the Street, while EPS of 60c was well above its model and consensus. Inspire also increased its FY2024 top-line guidance to $793M-$798M, representing a $2.5M increase from previous range at-the-midpoint, which reflects some transient headwinds from hurricanes/IV solutions shortage, Piper adds.
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Read More on INSP:
- Inspire Medical price target raised to $252 from $240 at Baird
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- Inspire Medical Reports Strong Q3 Growth and Raises Outlook
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- Inspire Medical raises FY24 EPS view to $1.20-$1.40 from 60c-80c