Inari Medical (NARI) Scheduled to Post Earnings on Tuesday

Inari Medical (NASDAQ:NARI) is scheduled to be releasing its earnings data after the market closes on Tuesday, April 30th. Analysts expect Inari Medical to post earnings of ($0.16) per share for the quarter. Inari Medical has set its FY 2024 guidance at EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Inari Medical (NASDAQ:NARI) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.09). The firm had revenue of $132.10 million for the quarter, compared to analyst estimates of $131.82 million. Inari Medical had a positive return on equity of 1.23% and a negative net margin of 0.33%. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.11) EPS. 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 1.7 %

NASDAQ:NARI opened at $37.93 on Tuesday. Inari Medical has a 52-week low of $36.73 and a 52-week high of $71.85. The stock has a fifty day simple moving average of $46.48 and a 200-day simple moving average of $54.98.

Insider Activity at Inari Medical

In related news, Director William Hoffman sold 1,451 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.00, for a total value of $58,040.00. Following the completion of the transaction, the director now owns 999,782 shares of the company’s stock, valued at approximately $39,991,280. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director William Hoffman sold 1,451 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.00, for a total transaction of $58,040.00. Following the completion of the transaction, the director now owns 999,782 shares of the company’s stock, valued at approximately $39,991,280. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mitch C. Hill sold 6,000 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $40.96, for a total transaction of $245,760.00. Following the transaction, the chief financial officer now directly owns 181,294 shares of the company’s stock, valued at approximately $7,425,802.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,451 shares of company stock valued at $1,949,000. 10.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NARI. Truist Financial cut their price target on Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Piper Sandler downgraded Inari Medical from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $85.00 to $55.00 in a research note on Thursday, February 29th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $75.00 price target on shares of Inari Medical in a research note on Friday, April 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Inari Medical in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.71.

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.