Inari Medical, Inc. (NASDAQ:NARI – Get Rating) – Zacks Research dropped their Q1 2023 EPS estimates for shares of Inari Medical in a report released on Monday, March 13th. Zacks Research analyst I. Bandyopadhyay now forecasts that the company will post earnings per share of ($0.24) for the quarter, down from their previous forecast of ($0.19). The consensus estimate for Inari Medical’s current full-year earnings is ($0.48) per share. Zacks Research also issued estimates for Inari Medical’s Q2 2023 earnings at ($0.17) EPS, Q3 2023 earnings at ($0.11) EPS, Q4 2023 earnings at ($0.01) EPS, FY2023 earnings at ($0.53) EPS and Q4 2024 earnings at $0.09 EPS.
Other analysts have also recently issued research reports about the stock. Truist Financial reduced their target price on shares of Inari Medical from $75.00 to $65.00 and set a “hold” rating for the company in a research note on Tuesday, January 31st. Morgan Stanley decreased their target price on Inari Medical from $95.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, January 6th. Finally, Canaccord Genuity Group raised their price target on Inari Medical from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, February 28th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.56.
Inari Medical Trading Up 3.2 %
Inari Medical (NASDAQ:NARI – Get Rating) last posted its earnings results on Monday, February 27th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.06. Inari Medical had a negative return on equity of 7.03% and a negative net margin of 7.63%. The firm had revenue of $107.77 million during the quarter, compared to analysts’ expectations of $104.85 million. During the same quarter in the previous year, the business earned $0.02 earnings per share. The firm’s revenue was up 29.5% compared to the same quarter last year.
Insiders Place Their Bets
In related news, Director William Hoffman sold 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $66.90, for a total transaction of $3,679,500.00. Following the transaction, the director now owns 345,923 shares of the company’s stock, valued at $23,142,248.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Inari Medical news, Director William Hoffman sold 55,000 shares of the business’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $66.90, for a total value of $3,679,500.00. Following the completion of the transaction, the director now directly owns 345,923 shares in the company, valued at approximately $23,142,248.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andrew Hykes sold 9,000 shares of the firm’s stock in a transaction on Tuesday, December 20th. The stock was sold at an average price of $68.50, for a total value of $616,500.00. Following the sale, the chief operating officer now owns 102,998 shares in the company, valued at approximately $7,055,363. The disclosure for this sale can be found here. Insiders have sold 146,250 shares of company stock valued at $9,236,348 in the last ninety days. Insiders own 11.90% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of NARI. Texas Permanent School Fund acquired a new position in Inari Medical during the second quarter worth approximately $1,671,000. Teza Capital Management LLC purchased a new position in shares of Inari Medical in the 3rd quarter worth $627,000. Renaissance Technologies LLC boosted its holdings in Inari Medical by 105.6% in the second quarter. Renaissance Technologies LLC now owns 194,299 shares of the company’s stock valued at $13,210,000 after acquiring an additional 99,800 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Inari Medical during the third quarter valued at about $686,000. Finally, Perceptive Advisors LLC acquired a new stake in Inari Medical during the third quarter worth about $5,085,000. Institutional investors and hedge funds own 85.19% of the company’s stock.
Inari Medical Company Profile
Inari Medical, Inc, a medical device company, develops, manufactures, markets, and sells devices for the interventional treatment of venous diseases in the United States. The company provides ClotTriever, a mechanical thrombectomy system, which is designed to core, capture, and remove large clots from large vessels, as well as for treatment of deep vein thrombosis; and FlowTriever, a large bore catheter-based aspiration and mechanical thrombectomy system, for treatment of pulmonary embolism.
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