Inari Medical (NARI) Scheduled to Post Quarterly Earnings on Monday

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

Inari Medical (NASDAQ:NARI) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.25). The business had revenue of $145.82 million for 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%. 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 Trading Down 0.6 %

Inari Medical stock opened at $43.70 on Friday. The company has a market capitalization of $2.54 billion, a P/E ratio of -106.59 and a beta of 1.00. The firm’s fifty day simple moving average is $43.65 and its 200-day simple moving average is $45.86. Inari Medical has a 1-year low of $36.73 and a 1-year high of $67.13.

Insiders Place Their Bets

In other Inari Medical news, 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Mitch C. Hill sold 5,000 shares of Inari Medical stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $47.99, for a total transaction of $239,950.00. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, 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. Insiders have sold 88,000 shares of company stock worth $4,009,340 in the last ninety days. Insiders own 10.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a 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 on the stock in a report on Wednesday, July 31st. Leerink Partners started coverage on shares of Inari Medical in a report on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 target price on the stock. Canaccord Genuity Group lifted their target price on shares of Inari Medical from $55.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Piper Sandler reiterated a “neutral” rating and issued a $50.00 target price on shares of Inari Medical in a report on Monday, August 26th. Six 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 has a consensus rating of “Hold” and a consensus 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.