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Here's Why You Should Retain Inari Medical (NARI) Stock Now
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Inari Medical, Inc. (NARI - Free Report) is well-poised for growth, backed by its commitment to understanding the venous system and a huge market opportunity for products. However, dependency on the broad adoption of products is a concern.
Shares of this Zacks Rank #3 (Hold) stock have lost 17.9% compared with the industry’s decline of 34.1% on a year-to-date basis. The S&P 500 Index has fallen 21.3% in the same time frame.
NARI — with a market capitalization of $4.05 billion — is a commercial-stage medical device company that seeks to develop products to treat and change the lives of patients suffering from venous diseases. The company’s earnings yield of (0.9%) compares favorably with the industry’s (10.3%). It beat earnings estimates in three of the trailing four quarters and matched in one quarter, with the average surprise being 21.96%.
Image Source: Zacks Investment Research
What’s Driving Its Performance?
Inari Medical is spearheading the creation and commercialization of devices that are purposefully built, keeping in mind the specific characteristics of the venous system, its diseases and its unique clot morphology. The company’s commitment to understanding the venous system and in-depth knowledge of its target market has allowed it to figure out the unmet needs of its patients and physicians. This, in turn, has enabled NARI to quickly innovate and improve its products while informing its clinical and educational programs.
Inari Medical completed enrollment in its CLOUT deep vein thrombosis (DVT) registry earlier this year. Both safety and efficacy results were excellent in the earlier data cuts and the company anticipates seeing similar encouraging results when the full patient cohort of CLOUT is presented later in 2022. The company is also conducting a PEERLESS randomized controlled trial in pulmonary embolism (PE) patients. Last month, the company announced favorable outcomes of the fully enrolled 800-patient FLASH registry in PE. The primary endpoint of the registry was successfully met by FlowTriever for the treatment of PE.
Inari Medical stated that a significant percentage of DVT and PE patients are treated with conservative medical management that involves anticoagulants alone, which do not break down or remove an existing clot. Consequently, the company believes that there is a huge untapped demand for safe and effective treatment and removal of the existing clot in patients with these diseases.
The company received FDA clearance for Artix in March. This product is a peripheral thrombectomy device developed to cater to unmet needs in a new patient population. It is the first component of a broader toolbox that the company is in the process of developing. Last year, the company completed its limited market release on ClotTriever Bold and moved to full-market release. Bold is a more aggressive version of the company’s original ClotTriever device.
What’s Weighing on the Company?
Most of Inari Medical’s product sales and revenues come from a limited number of hospitals. The company’s growth and profitability mainly depend on its ability to boost physician and patient awareness of its products and how keen physicians and hospitals are to adopt its products and perform catheter-based thrombectomy procedures for the treatment of venous thromboembolism (VTE).
The company’s inability to show the benefits of its products and catheter-based thrombectomy procedures will lead to limited adoption of the same. It might not happen as quickly as expected, negatively impacting its business and financial condition.
Estimates Trend
For 2022, the Zacks Consensus Estimate for revenues is pegged at $368 million, indicating an improvement of 32.9% from the year-ago period’s reported figure. The same for the bottom line stands at a loss of 67 cents per share. It had reported adjusted earnings per share (EPS) of 18 cents in the year-ago quarter.
Abiomed, carrying a Zacks Rank #2 (Buy), reported second-quarter 2022 adjusted EPS of $1.25, which beat the Zacks Consensus Estimate by 15.7%. Revenues of $277 million missed the consensus mark by 0.4%.
Abiomed has a historical earnings growth rate of 24%. ABMD’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 10.89%.
Bio-Rad, carrying a Zacks Rank #2, reported second-quarter 2022 adjusted EPS of $3.38, which beat the Zacks Consensus Estimate by 37.4%. Revenues of $691.1 million outpaced the consensus mark by 3.9%.
Bio-Rad has a historical earnings growth rate of 31.2%. BIO’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 46.8%.
McKesson reported second-quarter 2022 adjusted EPS of $5.83, which surpassed the Zacks Consensus Estimate by 9.8%. Revenues of $67.2 billion outpaced the Zacks Consensus Estimate by 5.1%. It currently carries a Zacks Rank #2.
McKesson has an earnings yield of 6.9% compared with the industry’s 4.9% yield. MCK’s earnings surpassed estimates in three of the trailing four quarters, the average surprise being 13%.
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Here's Why You Should Retain Inari Medical (NARI) Stock Now
Inari Medical, Inc. (NARI - Free Report) is well-poised for growth, backed by its commitment to understanding the venous system and a huge market opportunity for products. However, dependency on the broad adoption of products is a concern.
Shares of this Zacks Rank #3 (Hold) stock have lost 17.9% compared with the industry’s decline of 34.1% on a year-to-date basis. The S&P 500 Index has fallen 21.3% in the same time frame.
NARI — with a market capitalization of $4.05 billion — is a commercial-stage medical device company that seeks to develop products to treat and change the lives of patients suffering from venous diseases. The company’s earnings yield of (0.9%) compares favorably with the industry’s (10.3%). It beat earnings estimates in three of the trailing four quarters and matched in one quarter, with the average surprise being 21.96%.
Image Source: Zacks Investment Research
What’s Driving Its Performance?
Inari Medical is spearheading the creation and commercialization of devices that are purposefully built, keeping in mind the specific characteristics of the venous system, its diseases and its unique clot morphology. The company’s commitment to understanding the venous system and in-depth knowledge of its target market has allowed it to figure out the unmet needs of its patients and physicians. This, in turn, has enabled NARI to quickly innovate and improve its products while informing its clinical and educational programs.
Inari Medical completed enrollment in its CLOUT deep vein thrombosis (DVT) registry earlier this year. Both safety and efficacy results were excellent in the earlier data cuts and the company anticipates seeing similar encouraging results when the full patient cohort of CLOUT is presented later in 2022. The company is also conducting a PEERLESS randomized controlled trial in pulmonary embolism (PE) patients. Last month, the company announced favorable outcomes of the fully enrolled 800-patient FLASH registry in PE. The primary endpoint of the registry was successfully met by FlowTriever for the treatment of PE.
Inari Medical stated that a significant percentage of DVT and PE patients are treated with conservative medical management that involves anticoagulants alone, which do not break down or remove an existing clot. Consequently, the company believes that there is a huge untapped demand for safe and effective treatment and removal of the existing clot in patients with these diseases.
The company received FDA clearance for Artix in March. This product is a peripheral thrombectomy device developed to cater to unmet needs in a new patient population. It is the first component of a broader toolbox that the company is in the process of developing. Last year, the company completed its limited market release on ClotTriever Bold and moved to full-market release. Bold is a more aggressive version of the company’s original ClotTriever device.
What’s Weighing on the Company?
Most of Inari Medical’s product sales and revenues come from a limited number of hospitals. The company’s growth and profitability mainly depend on its ability to boost physician and patient awareness of its products and how keen physicians and hospitals are to adopt its products and perform catheter-based thrombectomy procedures for the treatment of venous thromboembolism (VTE).
The company’s inability to show the benefits of its products and catheter-based thrombectomy procedures will lead to limited adoption of the same. It might not happen as quickly as expected, negatively impacting its business and financial condition.
Estimates Trend
For 2022, the Zacks Consensus Estimate for revenues is pegged at $368 million, indicating an improvement of 32.9% from the year-ago period’s reported figure. The same for the bottom line stands at a loss of 67 cents per share. It had reported adjusted earnings per share (EPS) of 18 cents in the year-ago quarter.
Inari Medical, Inc. Price
Inari Medical, Inc. price | Inari Medical, Inc. Quote
Stocks to Consider
Some better-ranked stocks from the broader medical space are Abiomed , Bio-Rad Laboratories, Inc. (BIO - Free Report) and McKesson (MCK - Free Report) . You can see the complete list of today’s Zacks #1 Rank stocks here.
Abiomed, carrying a Zacks Rank #2 (Buy), reported second-quarter 2022 adjusted EPS of $1.25, which beat the Zacks Consensus Estimate by 15.7%. Revenues of $277 million missed the consensus mark by 0.4%.
Abiomed has a historical earnings growth rate of 24%. ABMD’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 10.89%.
Bio-Rad, carrying a Zacks Rank #2, reported second-quarter 2022 adjusted EPS of $3.38, which beat the Zacks Consensus Estimate by 37.4%. Revenues of $691.1 million outpaced the consensus mark by 3.9%.
Bio-Rad has a historical earnings growth rate of 31.2%. BIO’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 46.8%.
McKesson reported second-quarter 2022 adjusted EPS of $5.83, which surpassed the Zacks Consensus Estimate by 9.8%. Revenues of $67.2 billion outpaced the Zacks Consensus Estimate by 5.1%. It currently carries a Zacks Rank #2.
McKesson has an earnings yield of 6.9% compared with the industry’s 4.9% yield. MCK’s earnings surpassed estimates in three of the trailing four quarters, the average surprise being 13%.