Inari Medical, Inc. (NASDAQ:NARI) Forecasted to Post Q3 2024 Earnings of ($0.08) Per Share

Inari Medical, Inc. (NASDAQ:NARI) – Analysts at Leerink Partnrs issued their Q3 2024 earnings per share (EPS) estimates for Inari Medical in a research report issued to clients and investors on Tuesday, September 3rd. Leerink Partnrs analyst M. Kratky forecasts that the company will post earnings per share of ($0.08) for the quarter. Leerink Partnrs has a “Hold” rating on the stock. The consensus estimate for Inari Medical’s current full-year earnings is ($0.75) per share. Leerink Partnrs also issued estimates for Inari Medical’s Q4 2024 earnings at ($0.03) EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.03 EPS, Q3 2025 earnings at $0.03 EPS, Q4 2025 earnings at $0.06 EPS and FY2026 earnings at $0.37 EPS.

Other equities research analysts have also issued research reports about the company. Robert W. Baird lowered their price objective on Inari Medical from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Canaccord Genuity Group increased their price target on shares of Inari Medical from $55.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft initiated coverage on Inari Medical in a report on Friday, August 9th. They issued a “buy” rating and a $68.00 price objective for the company. Leerink Partners assumed coverage on Inari Medical in a report on Tuesday. They set a “market perform” rating and a $47.00 target price on the stock. Finally, Piper Sandler reissued a “neutral” rating and set a $50.00 price target on shares of Inari Medical in a research report on Monday, August 26th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.50.

Inari Medical Price Performance

Shares of NARI stock opened at $43.74 on Wednesday. The company’s fifty day moving average price is $49.56 and its two-hundred day moving average price is $46.83. The firm has a market capitalization of $2.55 billion, a P/E ratio of -106.68 and a beta of 1.01. Inari Medical has a 12 month low of $36.73 and a 12 month high of $69.40.

Institutional Trading of Inari Medical

A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in Inari Medical by 7.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 596,007 shares of the company’s stock worth $38,693,000 after purchasing an additional 41,555 shares in the last quarter. Norges Bank purchased a new stake in Inari Medical in the 4th quarter worth about $29,491,000. Motley Fool Asset Management LLC boosted its position in Inari Medical by 46.2% during the 1st quarter. Motley Fool Asset Management LLC now owns 64,677 shares of the company’s stock worth $3,103,000 after acquiring an additional 20,438 shares during the period. Bamco Inc. NY grew its stake in Inari Medical by 27.4% during the 1st 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. Finally, Point72 Europe London LLP grew its stake in Inari Medical by 91.8% during the 4th quarter. Point72 Europe London LLP now owns 332,202 shares of the company’s stock valued at $21,567,000 after acquiring an additional 158,997 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Inari Medical

In related news, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $50.08, for a total transaction of $150,240.00. Following the transaction, the chief executive officer now owns 462,474 shares in the company, valued at $23,160,697.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Andrew Hykes sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $50.08, for a total value of $150,240.00. Following the sale, the chief executive officer now directly owns 462,474 shares in the company, valued at approximately $23,160,697.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Hoffman sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $56.74, for a total transaction of $3,404,400.00. Following the sale, the director now owns 743,296 shares of the company’s stock, valued at $42,174,615.04. The disclosure for this sale can be found here. In the last three months, insiders sold 117,780 shares of company stock valued at $6,393,074. Company insiders own 10.60% of the company’s stock.

Inari Medical Company Profile

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.