Inspire Medical Systems, Inc. (INSP) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does Inspire Medical Systems, Inc. Do?
Inspire Medical Systems, Inc., a medical technology company, focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA) in the United States and internationally. The company offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA. It also develops a novel, a closed-loop solution that continuously monitors a patient's breathing and delivers mild hypoglossal nerve stimulation to maintain an open airway. The company was incorporated in 2007 and is headquartered in Golden Valley, Minnesota. Inspire Medical Systems, Inc. (INSP) is classified as a small-cap stock in the Healthcare sector, specifically within the Medical Equipment industry. The company is led by CEO Timothy P. Herbert and employs approximately 760 people. With a market capitalization of $1.5B, INSP is one of the notable companies in the Healthcare sector.
Inspire Medical Systems, Inc. (INSP) Stock Rating — Reduce (April 2026)
As of April 2026, Inspire Medical Systems, Inc. receives a Reduce rating with a composite score of 37.9/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.INSP ranks #3,357 out of 4,446 stocks in our coverage universe. Within the Healthcare sector, Inspire Medical Systems, Inc. ranks #510 of 838 stocks, placing it in the lower half of its Healthcare peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
INSP Stock Price and 52-Week Range
Inspire Medical Systems, Inc. (INSP) currently trades at $54.02. The stock lost $2.67 (4.7%) in the most recent trading session. The 52-week high for INSP is $172.95, which means the stock is currently trading -68.8% from its annual peak. The 52-week low is $53.11, putting the stock 1.7% above its annual trough. Recent trading volume was 1.4M shares, reflecting moderate market activity.
Is INSP Overvalued or Undervalued? — Valuation Analysis
Inspire Medical Systems, Inc. (INSP) carries a value factor score of 58/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 56.31x, compared to the Healthcare sector average of 23.63x — a premium of 138%. The price-to-book ratio stands at 2.01x, versus the sector average of 2.75x. The price-to-sales ratio is 1.85x, compared to 1.66x for the average Healthcare stock. On an enterprise value basis, INSP trades at 50.29x EV/EBITDA, versus 6.34x for the sector.
Overall, INSP's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.
Inspire Medical Systems, Inc. Profitability — ROE, Margins, and Quality Score
Inspire Medical Systems, Inc. (INSP) earns a quality factor score of 44/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is 3.6%, compared to the Healthcare sector average of -43.5%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at 3.1% versus the sector average of -33.1%.
On a margin basis, Inspire Medical Systems, Inc. reports gross margins of 84.7%, compared to 71.5% for the sector. The operating margin is 2.3% (sector: -66.1%). Net profit margin stands at 3.3%, versus -58.7% for the average Healthcare stock. Revenue growth is running at 14.6% on a trailing basis, compared to 10.6% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.
INSP Debt, Balance Sheet, and Financial Health
Inspire Medical Systems, Inc. has a debt-to-equity ratio of 16.0%, compared to the Healthcare sector average of 32.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 6.08x, indicating strong short-term liquidity. Total debt on the balance sheet is $0. Cash and equivalents stand at $113M.
INSP has a beta of 1.06, meaning it is roughly in line with the broader market in terms of price volatility. The stability factor score for Inspire Medical Systems, Inc. is 37/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.
Inspire Medical Systems, Inc. Revenue and Earnings History — Quarterly Trend
In TTM 2026, Inspire Medical Systems, Inc. reported revenue of $846M and earnings per share (EPS) of $4.95. Net income for the quarter was $28M. Gross margin was 84.7%. Operating income came in at $19M.
In FY 2025, Inspire Medical Systems, Inc. reported revenue of $912M and earnings per share (EPS) of $4.95. Net income for the quarter was $145M. Gross margin was 85.4%. Revenue grew 13.6% year-over-year compared to FY 2024. Operating income came in at $51M.
In Q3 2025, Inspire Medical Systems, Inc. reported revenue of $225M and earnings per share (EPS) of $0.34. Net income for the quarter was $10M. Gross margin was 85.9%. Revenue grew 10.5% year-over-year compared to Q3 2024. Operating income came in at $10M.
In Q2 2025, Inspire Medical Systems, Inc. reported revenue of $217M and earnings per share (EPS) of $-0.12. Net income for the quarter was $-4M. Gross margin was 84.0%. Revenue grew 10.8% year-over-year compared to Q2 2024. Operating income came in at $-3M.
Over the past 8 quarters, Inspire Medical Systems, Inc. has demonstrated a growth trajectory, with revenue expanding from $196M to $846M. Investors analyzing INSP stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
INSP Dividend Yield and Income Analysis
Inspire Medical Systems, Inc. (INSP) does not currently pay a dividend. This is common among smaller companies in the Medical Equipment industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Healthcare dividend stocks may want to explore other Healthcare stocks or use the stock screener to filter by dividend yield.
INSP Momentum and Technical Analysis Profile
Inspire Medical Systems, Inc. (INSP) has a momentum factor score of 16/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 27/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 56/100 reflects moderate short selling activity.
INSP vs Competitors — Healthcare Sector Ranking and Peer Comparison
Within the Healthcare sector, Inspire Medical Systems, Inc. (INSP) ranks #510 out of 838 stocks based on the Blank Capital composite score. This places INSP in the lower half of all Healthcare stocks in our coverage universe. Key competitors and sector peers include ASTRAZENECA PLC (AZN) with a score of 61.4/100, Sol-Gel Technologies Ltd. (SLGL) with a score of 56.6/100, VIEMED HEALTHCARE, INC. (VMD) with a score of 53.4/100, Innoviva, Inc. (INVA) with a score of 52.7/100, and JOHNSON & JOHNSON (JNJ) with a score of 51.7/100.
Comparing INSP against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full INSP vs S&P 500 (SPY) comparison to assess how Inspire Medical Systems, Inc. stacks up against the broader market across all factor dimensions.
INSP Next Earnings Date
No upcoming earnings date has been announced for Inspire Medical Systems, Inc. (INSP) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy INSP? — Investment Thesis Summary
The quantitative profile for Inspire Medical Systems, Inc. suggests caution. Momentum is weak at 16/100, a headwind for near-term performance. High volatility (stability score 37/100) increases portfolio risk.
In summary, Inspire Medical Systems, Inc. (INSP) earns a Reduce rating with a composite score of 37.9/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on INSP stock.
Related Resources for INSP Investors
Explore more research and tools: INSP vs S&P 500 comparison, top Healthcare stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare INSP head-to-head with peers: INSP vs AZN, INSP vs SLGL, INSP vs VMD.