Inari Medical (NARI) to Release Earnings on Tuesday

Inari Medical (NASDAQ:NARI) will be posting its quarterly earnings results after the market closes on Tuesday, July 30th. Analysts expect Inari Medical to post earnings of ($0.19) per share for the quarter. Inari Medical has set its FY 2024 guidance at EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Inari Medical (NASDAQ:NARI) last posted its earnings results on Tuesday, April 30th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.15). Inari Medical had a negative return on equity of 1.65% and a negative net margin of 4.54%. The company had revenue of $143.19 million for the quarter, compared to the consensus estimate of $138.32 million. On average, analysts expect Inari Medical to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Inari Medical Stock Down 2.5 %

Shares of Inari Medical stock opened at $53.83 on Monday. Inari Medical has a twelve month low of $36.73 and a twelve month high of $71.85. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of -131.29 and a beta of 1.01. The company’s fifty day moving average is $49.94 and its 200 day moving average is $48.86.

Insider Buying and Selling at Inari Medical

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the sale, the chief executive officer now owns 465,474 shares of the company’s stock, valued at $23,273,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the sale, the chief executive officer now owns 465,474 shares of the company’s stock, valued at $23,273,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Hoffman sold 60,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $56.74, for a total transaction of $3,404,400.00. Following the transaction, the director now owns 743,296 shares in the company, valued at approximately $42,174,615.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 261,293 shares of company stock valued at $13,113,558. 10.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NARI has been the topic of several analyst reports. William Blair initiated coverage on shares of Inari Medical in a research note on Thursday. They issued an “outperform” rating on the stock. Wells Fargo & Company reduced their price objective on shares of Inari Medical from $100.00 to $84.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Piper Sandler reduced their price objective on shares of Inari Medical from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Needham & Company LLC cut shares of Inari Medical from a “buy” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, Truist Financial boosted their price objective on shares of Inari Medical from $47.00 to $60.00 and gave the stock a “hold” rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.83.

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.