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Strength Seen in Inari Medical, Inc. (NARI): Can Its 6.2% Jump Turn into More Strength?

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Inari Medical, Inc. (NARI - Free Report) shares rallied 6.2% in the last trading session to close at $80.70. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 16.2% loss over the past four weeks.

Inari Medical witnessed solid price appreciation following the news (Apr 28) wherein its stated that the company is set to join S&P Midcap 400 by replacing another company – Tri Point Homes Inc.

This company is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of -161.5%. Revenues are expected to be $83.21 million, up 45% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Inari Medical, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NARI going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Inari Medical, Inc. is part of the Zacks Medical - Instruments industry. Apollo Endosurgery, Inc. (APEN - Free Report) , another stock in the same industry, closed the last trading session 2.7% lower at $5.43. APEN has returned -7.8% in the past month.

For Apollo Endosurgery, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.21. This represents a change of -23.5% from what the company reported a year ago. Apollo Endosurgery, Inc. currently has a Zacks Rank of #4 (Sell).


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