Shares of medical technology company Inspire Medical Systems (NYSE:INSP)
fell 17.5% in the afternoon session after regional Medicare administrators unexpectedly removed coverage for the company's newest medical device.
As we await the opening of the US market on Thursday, let's delve into the pre-market session and discover the top gainers and losers shaping the early market sentiment.
Shares of medical technology company Inspire Medical Systems (NYSE:INSP)
jumped 3% in the afternoon session after RBC Capital significantly raised its price target on the stock.
From novel pharmaceuticals to telemedicine, most healthcare companies are on a mission to drive better patient outcomes. Players catalyzing medical advancements have benefited from elevated demand, and their momentum is only rising
as the industry has posted a 15.6% gain over the past six months, beating the S&P 500 by 1.7 percentage points.
Shares of medical technology company Inspire Medical Systems (NYSE:INSP)
jumped 2.3% in the afternoon session after the stock continued its positive momentum amid improved ratings from Wall Street analysts, as an increase in Medicare reimbursement rate boosted the growth outlook for the company's procedures.
Shares of medical technology company Inspire Medical Systems (NYSE:INSP)
jumped 4.5% in the morning session after Piper Sandler raised its price target on the company's stock to $165 from $135. The investment firm also maintained its positive "Overweight" rating. The decision was based on improved reimbursement news for the company, which makes technology to treat sleep apnea. The analyst noted that better insurance coverage should help drive more sales and lead to higher average selling prices for Inspire's products.
Wall Street has issued downbeat forecasts for the stocks in this article.
These predictions are rare - financial institutions typically hesitate to say bad things about a company because it can jeopardize their other revenue-generating business lines like M&A advisory.
Companies with more cash than debt can be financially resilient, but that doesn’t mean they’re all strong investments.
Some lack leverage because they struggle to grow or generate consistent profits, making them unattractive borrowers.
Shares of medical technology company Inspire Medical Systems (NYSE:INSP)
jumped 5.3% in the morning session after the stock's positive momentum continued as Morgan Stanley raised its price target. Investors seemed to focus on the positive aspect of the analyst's note, which was the increased price target to $130 from $105. This suggested that despite the more neutral rating, the firm saw a higher potential valuation for the company's shares than it did before.
Nyxoah expects the stronger reimbursement framework to support broader adoption, increase procedural throughput, and expand across Medicare-heavy institutions.
"You get what you pay for" often applies to expensive stocks with best-in-class business models and execution.
While their quality can sometimes justify the premium, they typically experience elevated volatility during market downturns when expectations change.
Shares of medical technology company Inspire Medical Systems (NYSE:INSP)
jumped 15.6% in the afternoon session after the stock's positive momentum continued as a significant increase in Medicare reimbursement rate boosted the growth outlook for the company's procedures, prompting multiple analyst upgrades.
Shares of medical technology company Inspire Medical Systems (NYSE:INSP)
jumped 28.6% in the afternoon session after the Centers for Medicare & Medicaid Services (CMS) finalized a rule significantly increasing payment rates for the company's sleep apnea procedures.
Let's have a look at what is happening on the US markets before the opening bell on Monday. Below you can find the top gainers and losers in today's pre-market session.
A number of stocks jumped in the afternoon session after comments from a key Federal Reserve official bolstered hopes for an interest rate cut. New York Federal Reserve President John Williams stated he sees “room for a further adjustment” in the near term, sparking a significant market rally. Following his remarks, the probability of the central bank cutting rates at its December meeting jumped from 39% to over 73%, according to the CME FedWatch tool. This positive sentiment provided relief to markets amid concerns over high valuations, particularly in AI-related stocks.
A stock with low volatility can be reassuring, but it doesn’t always mean strong long-term performance.
Investors who prioritize stability may miss out on higher-reward opportunities elsewhere.
A number of stocks jumped in the afternoon session after the market experienced a sharp sector rotation, as investors fled growth-oriented technology stocks and piled into value-oriented names amid growing valuation concerns.
Inspire Medical Systems’ third quarter results were well received by the market, supported by robust adoption of the Inspire V system and operational discipline. Management highlighted that growth was primarily driven by increased patient volume, positive clinical feedback, and continued expansion of the U.S. and international customer base. CEO Tim Herbert emphasized, “We are excited and energized by the strong performance of the Inspire V system and the clinical feedback on the simplified procedure and comfort settings has been tremendously positive.” The company also benefited from higher gross margins due to favorable product mix, despite increased marketing expenses.
Shares of medical technology company Inspire Medical Systems (NYSE:INSP)
jumped 16.2% in the morning session after the company reported strong third-quarter results that significantly surpassed Wall Street's expectations for both revenue and profit.
