Leerink Partnrs Lowers Earnings Estimates for Inari Medical

Inari Medical, Inc. (NASDAQ:NARI) – Equities research analysts at Leerink Partnrs dropped their FY2027 earnings per share (EPS) estimates for shares of Inari Medical in a research report issued on Monday, November 25th. Leerink Partnrs analyst M. Kratky now forecasts that the company will post earnings per share of $0.54 for the year, down from their prior estimate of $0.56. Leerink Partnrs has a “Hold” rating on the stock. The consensus estimate for Inari Medical’s current full-year earnings is ($0.77) per share. Leerink Partnrs also issued estimates for Inari Medical’s FY2028 earnings at $0.97 EPS.

Several other research analysts have also recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Canaccord Genuity Group increased their price objective on shares of Inari Medical from $71.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Piper Sandler raised their price objective on Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Truist Financial upped their target price on Inari Medical from $46.00 to $50.00 and gave the stock a “hold” rating in a report on Tuesday, October 29th. Finally, Stifel Nicolaus began coverage on Inari Medical in a research note on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price target for the company. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $58.89.

Inari Medical Stock Up 0.4 %

Shares of NARI opened at $51.03 on Tuesday. Inari Medical has a twelve month low of $36.73 and a twelve month high of $67.13. The stock has a market capitalization of $2.99 billion, a P/E ratio of -37.65 and a beta of 0.96. The company has a 50 day moving average of $45.86 and a 200-day moving average of $47.43.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NARI. Franklin Resources Inc. grew its stake in shares of Inari Medical by 2.2% in the third quarter. Franklin Resources Inc. now owns 223,810 shares of the company’s stock valued at $9,445,000 after acquiring an additional 4,899 shares in the last quarter. Barclays PLC grew its position in shares of Inari Medical by 9.7% during the 3rd quarter. Barclays PLC now owns 288,079 shares of the company’s stock worth $11,881,000 after purchasing an additional 25,365 shares in the last quarter. Y Intercept Hong Kong Ltd increased its holdings in shares of Inari Medical by 316.7% during the third quarter. Y Intercept Hong Kong Ltd now owns 44,318 shares of the company’s stock worth $1,828,000 after purchasing an additional 33,682 shares during the period. Jane Street Group LLC raised its position in shares of Inari Medical by 32.4% in the third quarter. Jane Street Group LLC now owns 95,223 shares of the company’s stock valued at $3,927,000 after buying an additional 23,286 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of Inari Medical in the third quarter valued at approximately $9,008,000. Institutional investors own 90.98% of the company’s stock.

Insider Transactions at Inari Medical

In other news, CFO Mitch C. Hill sold 3,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $45.13, for a total transaction of $135,390.00. Following the transaction, the chief financial officer now owns 179,600 shares in the company, valued at approximately $8,105,348. This trade represents a 1.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Hoffman sold 40,000 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total value of $1,800,800.00. Following the completion of the sale, the director now owns 601,233 shares of the company’s stock, valued at $27,067,509.66. This trade represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 186,000 shares of company stock worth $8,990,990. 10.60% of the stock is owned by company insiders.

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.