Inari Medical, Inc. to Post Q3 2024 Earnings of ($0.08) Per Share, Leerink Partnrs Forecasts (NASDAQ:NARI)

Inari Medical, Inc. (NASDAQ:NARI) – Research analysts at Leerink Partnrs issued their Q3 2024 EPS estimates for shares of Inari Medical in a research note issued to investors on Tuesday, September 3rd. Leerink Partnrs analyst M. Kratky anticipates that the company will earn ($0.08) per share for the quarter. Leerink Partnrs has a “Hold” rating on the stock. The consensus estimate for Inari Medical’s current full-year earnings is ($0.75) per share. Leerink Partnrs also issued estimates for Inari Medical’s Q4 2024 earnings at ($0.03) EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.03 EPS, Q3 2025 earnings at $0.03 EPS, Q4 2025 earnings at $0.06 EPS and FY2026 earnings at $0.37 EPS.

NARI has been the subject of several other reports. Truist Financial reiterated a “hold” rating and set a $55.00 price objective (down from $60.00) on shares of Inari Medical in a research report on Wednesday, July 31st. Leerink Partners began coverage on shares of Inari Medical in a research report on Tuesday. They set a “market perform” rating and a $47.00 price objective for the company. Canaccord Genuity Group increased their price objective on shares of Inari Medical from $55.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. William Blair assumed coverage on shares of Inari Medical in a research report on Thursday, July 25th. They set an “outperform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Inari Medical in a research note on Friday, August 9th. They set a “buy” rating and a $68.00 target price on the stock. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $59.50.

Inari Medical Stock Down 3.2 %

NARI opened at $41.68 on Wednesday. Inari Medical has a twelve month low of $36.73 and a twelve month high of $69.40. The company has a fifty day moving average of $49.39 and a 200-day moving average of $46.77. The stock has a market cap of $2.42 billion, a PE ratio of -101.66 and a beta of 1.00.

Insider Buying and Selling at Inari Medical

In other Inari Medical news, insider Thomas Tu sold 16,520 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $55.09, for a total value of $910,086.80. Following the transaction, the insider now directly owns 313,257 shares of the company’s stock, valued at $17,257,328.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Inari Medical news, insider Thomas Tu sold 16,520 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $55.09, for a total value of $910,086.80. Following the transaction, the insider now directly owns 313,257 shares of the company’s stock, valued at $17,257,328.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Hoffman sold 60,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now directly owns 743,296 shares in the company, valued at $42,174,615.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 117,780 shares of company stock valued at $6,393,074. Corporate insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NARI. Point72 Asset Management L.P. lifted its position in shares of Inari Medical by 113.3% during the second quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock valued at $71,324,000 after purchasing an additional 786,691 shares in the last quarter. Armistice Capital LLC lifted its position in shares of Inari Medical by 353.1% during the second quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock valued at $48,595,000 after purchasing an additional 786,501 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Inari Medical by 11.1% during the first quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock valued at $268,681,000 after purchasing an additional 561,562 shares in the last quarter. Norges Bank purchased a new stake in Inari Medical during the fourth quarter worth about $29,491,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Inari Medical by 1,219.9% during the second quarter. The Manufacturers Life Insurance Company now owns 394,901 shares of the company’s stock worth $19,014,000 after buying an additional 364,983 shares during the last quarter. 90.98% of the stock is owned by institutional investors.

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.