Leerink Partnrs Cuts Earnings Estimates for Inari Medical

Inari Medical, Inc. (NASDAQ:NARI) – Stock analysts at Leerink Partnrs dropped their Q3 2024 earnings per share estimates for shares of Inari Medical in a research note issued on Tuesday, October 15th. Leerink Partnrs analyst M. Kratky now forecasts that the company will post earnings of ($0.13) per share for the quarter, down from their previous estimate of ($0.08). Leerink Partnrs has a “Hold” rating on the stock. The consensus estimate for Inari Medical’s current full-year earnings is ($0.70) per share. Leerink Partnrs also issued estimates for Inari Medical’s Q4 2024 earnings at ($0.07) EPS, Q1 2025 earnings at ($0.03) EPS, FY2025 earnings at ($0.03) EPS and FY2026 earnings at $0.21 EPS.

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 during the quarter, compared to the consensus estimate of $143.96 million. Inari Medical had a negative net margin of 10.42% and a negative return on equity of 7.51%.

Several other brokerages have also commented on NARI. Canaccord Genuity Group upped their target price on Inari Medical from $55.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a report on Wednesday, October 9th. William Blair started coverage on shares of Inari Medical in a research report on Thursday, July 25th. They set an “outperform” rating for the company. Robert W. Baird dropped their target price on shares of Inari Medical from $65.00 to $63.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Finally, Piper Sandler reissued a “neutral” rating and set a $50.00 target price on shares of Inari Medical in a research note on Monday, August 26th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $57.44.

Inari Medical Trading Up 1.7 %

Shares of NARI opened at $44.23 on Friday. The firm’s fifty day simple moving average is $44.11 and its two-hundred day simple moving average is $45.83. Inari Medical has a 12 month low of $36.73 and a 12 month high of $67.13. The stock has a market capitalization of $2.57 billion, a P/E ratio of -107.88 and a beta of 1.00.

Insiders Place Their Bets

In other news, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction dated 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $55.23, for a total value of $165,690.00. Following the completion of the sale, the chief executive officer now directly owns 455,252 shares of the company’s stock, valued at approximately $25,143,567.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 643,296 shares in the company, valued at approximately $29,482,255.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,000 shares of company stock worth $4,175,030. Insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

Several institutional investors have recently made changes to their positions in NARI. Motley Fool Asset Management LLC boosted its holdings in Inari Medical by 46.2% during the first quarter. Motley Fool Asset Management LLC now owns 64,677 shares of the company’s stock worth $3,103,000 after purchasing an additional 20,438 shares during the last quarter. Bamco Inc. NY grew its holdings in shares of Inari Medical by 27.4% in the first quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock valued at $37,288,000 after acquiring an additional 167,000 shares in the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Inari Medical in the second quarter valued at approximately $2,145,000. Integral Health Asset Management LLC increased its position in shares of Inari Medical by 100.0% during the second quarter. Integral Health Asset Management LLC now owns 400,000 shares of the company’s stock valued at $19,260,000 after acquiring an additional 200,000 shares during the last quarter. Finally, Maryland State Retirement & Pension System bought a new stake in Inari Medical during the first quarter worth $886,000. Institutional investors own 90.98% of the company’s stock.

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.