Inari Medical (NARI) to Release Quarterly Earnings on Monday

Inari Medical (NASDAQ:NARI) is scheduled to be issuing its quarterly earnings data 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 registering for the company’s earnings conference call can do so using this link.

Inari Medical (NASDAQ:NARI) last released 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). 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 analyst estimates 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 50 day simple moving average of $43.65 and a 200 day simple moving average of $45.88. Inari Medical has a one year low of $36.73 and a one year high of $67.13. The stock has a market capitalization of $2.54 billion, a P/E ratio of -106.59 and a beta of 1.00.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on 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 note on Wednesday, July 31st. 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 note on Wednesday, July 31st. Leerink Partners began coverage on Inari Medical in a research note on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 price objective for the company. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research note on Wednesday, October 9th. Finally, Truist Financial reduced their price objective on Inari Medical from $55.00 to $46.00 and set a “hold” rating for the company in a research note on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Inari Medical currently has an average rating of “Hold” and a consensus target price of $57.44.

Insider Activity

In other news, CFO Mitch C. Hill sold 5,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 179,600 shares in the company, valued at $8,619,004. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was 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 $29,482,255.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mitch C. Hill sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were 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 owns 179,600 shares in the company, valued at $8,619,004. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,000 shares of company stock worth $4,009,340 over the last 90 days. 10.60% of the stock is currently owned by corporate insiders.

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.