Inari Medical (NARI) to Release Quarterly Earnings on Monday

Inari Medical (NASDAQ:NARI) is set to release its earnings data after the market closes on Monday, October 28th. Analysts expect Inari Medical to post earnings of ($0.11) per share for the quarter. Inari Medical has set its FY 2024 guidance at EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Inari Medical (NASDAQ:NARI) last announced its earnings results on Tuesday, July 30th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.25). The company had revenue of $145.82 million for the quarter, compared to the consensus estimate of $143.96 million. Inari Medical had a negative return on equity of 7.51% and a negative net margin of 10.42%. On average, analysts expect Inari Medical to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Inari Medical Stock Up 1.7 %

NASDAQ NARI opened at $44.23 on Monday. The company has a market capitalization of $2.57 billion, a P/E ratio of -107.88 and a beta of 1.00. Inari Medical has a 12-month low of $36.73 and a 12-month high of $67.13. The firm has a 50-day moving average price of $44.11 and a two-hundred day moving average price of $45.85.

Insider Buying and Selling

In related news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $45.83, for a total transaction of $1,833,200.00. Following the completion of the transaction, the director now directly owns 643,296 shares in the company, valued at $29,482,255.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Inari Medical news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $45.83, for a total value of $1,833,200.00. Following the completion of the transaction, the director now directly owns 643,296 shares in the company, valued at approximately $29,482,255.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mitch C. Hill sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $45.13, for a total transaction of $135,390.00. Following the completion of the transaction, the chief financial officer now owns 179,600 shares of the company’s stock, valued at approximately $8,105,348. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,000 shares of company stock worth $4,009,340 in the last three months. 10.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on NARI. Leerink Partnrs raised shares of Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. Stifel Nicolaus assumed coverage on shares of Inari Medical in a research report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 target price for the company. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research report on Wednesday, October 9th. Robert W. Baird dropped their target price on shares of Inari Medical from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Finally, Leerink Partners assumed coverage on shares of Inari Medical in a research report on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 target price for the company. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $57.44.

About Inari Medical

Inari Medical, Inc builds minimally invasive, novel, and catheter-based mechanical thrombectomy devices and accessories for the specific disease states in the United States. The company provides ClotTriever system, which is designed to core, capture, and remove large clots from large vessels for treatment of deep vein thrombosis and peripheral thrombus; FlowTriever system, a large bore catheter-based aspiration and mechanical thrombectomy system to remove large clots from large vessels in the peripheral vasculature for treating pulmonary embolism and other complex venous thromboembolism cases; InThrill system to treat small vessel thrombosis; and LimFlow system for patients who have chronic limb-threatening ischemia with no suitable endovascular or surgical revascularization options and risk of major amputation.