Leerink Partnrs Lowers Earnings Estimates for Inari Medical

Inari Medical, Inc. (NASDAQ:NARI - Free Report) - Research analysts at Leerink Partnrs decreased their Q3 2024 earnings per share (EPS) estimates for Inari Medical in a research report issued on Tuesday, October 15th. Leerink Partnrs analyst M. Kratky now forecasts that the company will post earnings per share of ($0.13) for the quarter, down from their previous forecast of ($0.08). Leerink Partnrs currently has a "Hold" rating on the stock. The consensus estimate for Inari Medical's current full-year earnings is ($0.70) per share. Leerink Partnrs also issued estimates for Inari Medical's Q4 2024 earnings at ($0.07) EPS, Q1 2025 earnings at ($0.03) EPS, FY2025 earnings at ($0.03) EPS and FY2026 earnings at $0.21 EPS.

Inari Medical (NASDAQ:NARI - Get Free Report) last posted its earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.25). The business had revenue of $145.82 million during the quarter, compared to the consensus estimate of $143.96 million. Inari Medical had a negative return on equity of 7.51% and a negative net margin of 10.42%.

Several other analysts have also recently weighed in on the company. Stifel Nicolaus initiated coverage on Inari Medical in a research report on Tuesday, September 17th. They set a "hold" rating and a $50.00 price objective on the stock. William Blair began coverage on shares of Inari Medical in a report on Thursday, July 25th. They set an "outperform" rating for the company. Canaccord Genuity Group lifted their target price on shares of Inari Medical from $55.00 to $71.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of Inari Medical in a report on Friday, August 9th. They set a "buy" rating and a $68.00 target price for the company. Finally, Truist Financial lowered their target price on shares of Inari Medical from $55.00 to $46.00 and set a "hold" rating for the company in a report on Monday. Six investment 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 has an average rating of "Hold" and an average price target of $57.44.

Inari Medical Trading Up 1.7 %

Inari Medical stock traded up $0.76 during trading hours on Friday, hitting $44.23. 480,830 shares of the stock traded hands, compared to its average volume of 996,347. The firm's 50-day moving average price is $44.20 and its two-hundred day moving average price is $45.85. The company has a market cap of $2.57 billion, a PE ratio of -108.78 and a beta of 1.00. Inari Medical has a one year low of $36.73 and a one year high of $67.13.

Insiders Place Their Bets

In other Inari Medical news, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction that occurred 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 approximately $27,067,509.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Andrew Hykes sold 3,000 shares of the business's stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $55.23, for a total transaction of $165,690.00. Following the completion of the sale, the chief executive officer now owns 455,252 shares of the company's stock, valued at $25,143,567.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 transaction of $1,800,800.00. Following the sale, the director now directly owns 601,233 shares of the company's stock, valued at approximately $27,067,509.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,000 shares of company stock valued at $4,175,030. Company insiders own 10.60% of the company's stock.

Institutional Investors Weigh In On Inari Medical

Hedge funds have recently modified their holdings of the business. Motley Fool Asset Management LLC grew its position in shares of Inari Medical by 46.2% during the 1st quarter. Motley Fool Asset Management LLC now owns 64,677 shares of the company's stock valued at $3,103,000 after acquiring an additional 20,438 shares during the period. Bamco Inc. NY grew its position in shares of 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 during the period. Lighthouse Investment Partners LLC bought a new stake in shares of Inari Medical during the 2nd quarter valued at $2,145,000. Integral Health Asset Management LLC boosted its holdings in Inari Medical by 100.0% in the 2nd quarter. Integral Health Asset Management LLC now owns 400,000 shares of the company's stock worth $19,260,000 after buying an additional 200,000 shares during the period. Finally, Maryland State Retirement & Pension System bought a new position in Inari Medical in the 1st quarter worth $886,000. Institutional investors own 90.98% 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.