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Inari Medical (NARI) Posts Solid Preliminary Q4, FY2021 Revenues
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Inari Medical, Inc. (NARI - Free Report) recently released preliminary fourth-quarter and full-year 2021 revenue results. Following this announcement, shares of the company are down 8.1% till the last trading.
Per the preliminary announcement, Inari Medical — a medical device company committed to developing products to treat and change the lives of patients with venous diseases — anticipates fourth-quarter 2021 revenues to be $82.8-$83.3 million. This range reflects an improvement of 14% on a sequential basis and 71% from the year-ago quarter (at the mid-point of the range).
For the full-year, preliminary revenues are anticipated in the band of $276.6 million to $277.1 million, up around 98% from the previous year.
The company is expected to report fourth-quarter and full-year financial results in the first weeks of February.
Highlights
During the quarter, Inari Medical treated 7,700 patients, representing an increase of 1,000 procedures or 15% on a sequential basis. It is important to note here that non-COVID patients contributed to above 90% of overall procedures and sequential procedural growth.
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The company exited 2021 with above 200 U.S. sales territories.
Our Take
Inari Medical’s upbeat fourth-quarter preliminary results raise optimism. Per management, despite the COVID-19 induced challenges, the company continued to demonstrate solid execution commercially and across all of its growth drivers.
Procedural growth contributed by non-COVID patients is encouraging as this core patient population is the company’s strategic focus.
Price Performance
Shares of the Zacks Rank #5 (Strong Sell) company have lost 12% in the past three months, compared with the industry’s decline of 7.4%.
Key Picks
Some better-ranked stocks in the broader medical space include AMN Healthcare Services, Inc. (AMN - Free Report) , Henry Schein, Inc. (HSIC - Free Report) and Laboratory Corporation of America Holdings (LH - Free Report) .
AMN Healthcare surpassed earnings estimates in each of the trailing four quarters, the average surprise being 19.5%. The company currently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare’s long-term earnings growth rate is estimated at 16.2%. The company’s earnings yield of 5.5% compares favorably with the industry’s 0.8%.
Henry Schein beat earnings estimates in each of the trailing four quarters, the average surprise being 21.9%. The company currently carries a Zacks Rank #2 (Buy).
Henry Schein’s long-term earnings growth rate is estimated at 11.8%. The company’s earnings yield of 5.9% compares favorably with the industry’s 4.1%.
Laboratory Corporation surpassed earnings estimates in each of the trailing four quarters, the average surprise being 25.7%. The company currently sports a Zacks Rank #1.
Laboratory Corporation’s long-term earnings growth rate is estimated at 10.6%. The company’s earnings yield of 9.4% compares favorably with the industry’s 3.4%.
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Inari Medical (NARI) Posts Solid Preliminary Q4, FY2021 Revenues
Inari Medical, Inc. (NARI - Free Report) recently released preliminary fourth-quarter and full-year 2021 revenue results. Following this announcement, shares of the company are down 8.1% till the last trading.
Per the preliminary announcement, Inari Medical — a medical device company committed to developing products to treat and change the lives of patients with venous diseases — anticipates fourth-quarter 2021 revenues to be $82.8-$83.3 million. This range reflects an improvement of 14% on a sequential basis and 71% from the year-ago quarter (at the mid-point of the range).
For the full-year, preliminary revenues are anticipated in the band of $276.6 million to $277.1 million, up around 98% from the previous year.
The company is expected to report fourth-quarter and full-year financial results in the first weeks of February.
Highlights
During the quarter, Inari Medical treated 7,700 patients, representing an increase of 1,000 procedures or 15% on a sequential basis. It is important to note here that non-COVID patients contributed to above 90% of overall procedures and sequential procedural growth.
The company exited 2021 with above 200 U.S. sales territories.
Our Take
Inari Medical’s upbeat fourth-quarter preliminary results raise optimism. Per management, despite the COVID-19 induced challenges, the company continued to demonstrate solid execution commercially and across all of its growth drivers.
Procedural growth contributed by non-COVID patients is encouraging as this core patient population is the company’s strategic focus.
Price Performance
Shares of the Zacks Rank #5 (Strong Sell) company have lost 12% in the past three months, compared with the industry’s decline of 7.4%.
Key Picks
Some better-ranked stocks in the broader medical space include AMN Healthcare Services, Inc. (AMN - Free Report) , Henry Schein, Inc. (HSIC - Free Report) and Laboratory Corporation of America Holdings (LH - Free Report) .
AMN Healthcare surpassed earnings estimates in each of the trailing four quarters, the average surprise being 19.5%. The company currently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare’s long-term earnings growth rate is estimated at 16.2%. The company’s earnings yield of 5.5% compares favorably with the industry’s 0.8%.
Henry Schein beat earnings estimates in each of the trailing four quarters, the average surprise being 21.9%. The company currently carries a Zacks Rank #2 (Buy).
Henry Schein’s long-term earnings growth rate is estimated at 11.8%. The company’s earnings yield of 5.9% compares favorably with the industry’s 4.1%.
Laboratory Corporation surpassed earnings estimates in each of the trailing four quarters, the average surprise being 25.7%. The company currently sports a Zacks Rank #1.
Laboratory Corporation’s long-term earnings growth rate is estimated at 10.6%. The company’s earnings yield of 9.4% compares favorably with the industry’s 3.4%.