William Blair Comments on Inari Medical, Inc.’s Q3 2024 Earnings (NASDAQ:NARI)

Inari Medical, Inc. (NASDAQ:NARI) – Research analysts at William Blair lifted their Q3 2024 EPS estimates for shares of Inari Medical in a report released on Wednesday, July 31st. William Blair analyst M. Kaczor now anticipates that the company will post earnings of ($0.12) per share for the quarter, up from their previous forecast of ($0.21). William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Inari Medical’s current full-year earnings is ($0.62) per share. William Blair also issued estimates for Inari Medical’s Q4 2024 earnings at ($0.08) EPS.

Several other brokerages also recently commented on NARI. Canaccord Genuity Group upped their price target on shares of Inari Medical from $55.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Truist Financial reaffirmed a “hold” rating and issued a $55.00 target price (down previously from $60.00) on shares of Inari Medical in a research report on Wednesday, July 31st. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research report on Wednesday, July 31st. Wells Fargo & Company decreased their price objective on Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, Piper Sandler dropped their target price on Inari Medical from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Inari Medical presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

Inari Medical Stock Performance

Inari Medical stock opened at $47.45 on Monday. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of -115.73 and a beta of 1.01. Inari Medical has a 1 year low of $36.73 and a 1 year high of $71.85. The firm’s 50 day moving average price is $50.01 and its two-hundred day moving average price is $48.40.

Insider Buying and Selling at Inari Medical

In other news, CEO Andrew Hykes sold 3,000 shares of the firm’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 transaction, the chief executive officer now owns 455,252 shares in the company, valued at approximately $25,143,567.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Inari Medical news, Director William Hoffman sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $56.74, for a total transaction of $3,404,400.00. Following the completion of the sale, the director now owns 743,296 shares of the company’s stock, valued at $42,174,615.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 455,252 shares in the company, valued at approximately $25,143,567.96. The disclosure for this sale can be found here. Insiders sold 222,744 shares of company stock worth $11,494,500 over the last ninety days. 10.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NARI. Vanguard Group Inc. grew its position in shares of Inari Medical by 11.1% in 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 during the last quarter. Brown Advisory Inc. grew its holdings in Inari Medical by 17.6% in the 4th quarter. Brown Advisory Inc. now owns 1,702,113 shares of the company’s stock valued at $110,501,000 after buying an additional 255,182 shares during the last quarter. Bamco Inc. NY increased its position in Inari Medical by 27.4% in the 1st quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock worth $37,288,000 after buying an additional 167,000 shares during the period. Dimensional Fund Advisors LP increased its position in Inari Medical by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 596,007 shares of the company’s stock worth $38,693,000 after buying an additional 41,555 shares during the period. Finally, Fiera Capital Corp grew its stake in shares of Inari Medical by 1.2% in the second quarter. Fiera Capital Corp now owns 583,388 shares of the company’s stock worth $28,090,000 after acquiring an additional 6,664 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.