Inari Medical (NARI) to Release Quarterly Earnings on Monday

Inari Medical (NASDAQ:NARI) is set to post its quarterly earnings results 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.Individual interested in registering for the company’s earnings conference call can do so using this link.

Inari Medical (NASDAQ:NARI) last issued its quarterly earnings results on Tuesday, July 30th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.25). Inari Medical had a negative return on equity of 7.51% and a negative net margin of 10.42%. The business had revenue of $145.82 million for the quarter, compared to the consensus estimate of $143.96 million. 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 Price Performance

NASDAQ:NARI opened at $43.70 on Friday. The business has a fifty day simple moving average of $43.65 and a two-hundred day simple moving average of $45.88. Inari Medical has a 1 year low of $36.73 and a 1 year high of $67.13. The company has a market capitalization of $2.54 billion, a P/E ratio of -106.59 and a beta of 1.00.

Insider Activity

In other news, CFO Mitch C. Hill sold 5,000 shares of Inari Medical stock in a transaction on Monday, August 12th. The stock was sold at an average price of $47.99, for a total value of $239,950.00. Following the completion of the transaction, the chief financial officer now directly owns 179,600 shares in the company, valued at approximately $8,619,004. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Mitch C. Hill sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was 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 directly owns 179,600 shares in the company, valued at $8,105,348. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mitch C. Hill sold 5,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $47.99, for a total value of $239,950.00. Following the transaction, the chief financial officer now owns 179,600 shares of the company’s stock, valued at approximately $8,619,004. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 88,000 shares of company stock worth $4,009,340. 10.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NARI. Canaccord Genuity Group raised their target price on Inari Medical from $55.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Piper Sandler reissued a “neutral” rating and issued a $50.00 target price on shares of Inari Medical in a research report on Monday, August 26th. Leerink Partners began coverage on 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. Wells Fargo & Company decreased their target price on Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, Leerink Partnrs raised Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $57.44.

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.