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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 a huge market opportunity for products and its commitment to understand the venous system. However, dependency on the broad adoption of products is a concern.
Shares of this Zacks Rank #3 (Hold) company have lost 24.7% against the industry’s gain of 0.1% in the past six months. The S&P 500 Index is down 4% in the same time frame.
NARI — with a market capitalization of $3.17 billion — is a commercial-stage medical device company that seeks to develop products for treating and changing the lives of patients suffering from venous diseases. The company’s earnings yield of 0.4% compares favorably with the industry’s 7.4%. It beat earnings estimates in three of the trailing four quarters and matched once, with the average surprise being 15.81%.
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 unique clot morphology. The company’s in-depth knowledge of its target market and commitment to understand the venous system have 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.
Last month, the company enrolled first patient in its prospective randomized controlled trial — DEFIANCE — for comparing the clinical outcomes of ClotTriever System to anticoagulation, only in patients with iliofemoral deep vein thrombosis (DVT). A successful completion will support the favorable profile of Inari’s key product — ClotTriever — in treating DVT patients.
In October 2022, Inari Medical announced positive in-hospital and 30-day outcomes data from the fully-enrolled CLOUT deep vein thrombosis registry. The company also reported positive results from a propensity-matched comparison of patients treated in the CLOUT registry compared to those treated with pharmacomechanical thrombolysis in an NIH-sponsored randomized controlled trial — ATTRACT.
The analysis showed that patients had complete thrombus clearance following treatment with the ClotTriever system at nearly twice the rate of patients in the intervention arm of ATTRACT. ClotTriever also resulted in significantly fewer patients with post-thrombotic syndrome (PTS), with an absolute reduction of 13% at 30 days. The trial data demonstrated that ClotTriever removed more clots than other interventional options and resulted in better patient outcomes and lower PTS rates. These outcomes will likely result in higher adoption of the treatment among physicians and patients.
Last year, the company announced favorable outcomes of the fully enrolled 800-patient FLASH registry in pulmonary embolism (PE). The primary endpoint of the registry was successfully met by FlowTriever for the treatment of PE. The company is also conducting a PEERLESS randomized controlled trial in PE patients.
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 existing clots in patients with these diseases.
Inari announced preliminary revenues for its fourth quarter last month. The company estimated its total revenues for the quarter to be between $107.0 million and $108.0 million, implying an improvement of 29% year over year (at the midpoint of the range). For full-year 2022, the company expects revenues to be between $382.7 million and $383.7 million.
The company expanded its territories to over 275 in 2022. Inari expects its total revenues in 2023 to be between $470 million to $480 million, indicating growth of approximately 23-25% over 2022.
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. These also depend on how keen physicians and hospitals are to adopt its products and perform catheter-based thrombectomy procedures for the treatment of venous thromboembolism.
The company’s inability to show the benefits of its products and catheter-based thrombectomy procedures will result in limited adoption of the same. However, it might not happen as quickly as expected, thus negatively impacting Inari’s business and financial condition.
For 2023, the Zacks Consensus Estimate for revenues is pegged at $476.5 million, indicating an improvement of 24.3% from the year-ago period’s reported figure. The same for the bottom line stands at a loss of 26 cents per share in 202, indicating a 57.7% improvement from 2022.
Stocks to Consider
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Cardinal Health, Inc. (CAH - Free Report) and Merit Medical Systems, Inc. (MMSI - Free Report) .
AMN Healthcare, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 3.3%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 10.9%.
AMN Healthcarehas lost 8.8% compared with the industry’s 6% decline in the past six months.
Cardinal Health, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11.6%. CAH’s earnings surpassed estimates in two of the trailing four quarters and missed the same in the other two, the average beat being 6.4%.
Cardinal Health has gained 12% against the industry’s 3% decline in the past six months.
Merit Medical, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11%. MMSI’s earnings surpassed estimates in all the trailing four quarters, the average beat being 25.4%.
Merit Medicalhas gained 10.8% against the industry’s 3% decline in the past six months.
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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 a huge market opportunity for products and its commitment to understand the venous system. However, dependency on the broad adoption of products is a concern.
Shares of this Zacks Rank #3 (Hold) company have lost 24.7% against the industry’s gain of 0.1% in the past six months. The S&P 500 Index is down 4% in the same time frame.
NARI — with a market capitalization of $3.17 billion — is a commercial-stage medical device company that seeks to develop products for treating and changing the lives of patients suffering from venous diseases. The company’s earnings yield of 0.4% compares favorably with the industry’s 7.4%. It beat earnings estimates in three of the trailing four quarters and matched once, with the average surprise being 15.81%.
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 unique clot morphology. The company’s in-depth knowledge of its target market and commitment to understand the venous system have 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.
Last month, the company enrolled first patient in its prospective randomized controlled trial — DEFIANCE — for comparing the clinical outcomes of ClotTriever System to anticoagulation, only in patients with iliofemoral deep vein thrombosis (DVT). A successful completion will support the favorable profile of Inari’s key product — ClotTriever — in treating DVT patients.
In October 2022, Inari Medical announced positive in-hospital and 30-day outcomes data from the fully-enrolled CLOUT deep vein thrombosis registry. The company also reported positive results from a propensity-matched comparison of patients treated in the CLOUT registry compared to those treated with pharmacomechanical thrombolysis in an NIH-sponsored randomized controlled trial — ATTRACT.
The analysis showed that patients had complete thrombus clearance following treatment with the ClotTriever system at nearly twice the rate of patients in the intervention arm of ATTRACT. ClotTriever also resulted in significantly fewer patients with post-thrombotic syndrome (PTS), with an absolute reduction of 13% at 30 days. The trial data demonstrated that ClotTriever removed more clots than other interventional options and resulted in better patient outcomes and lower PTS rates. These outcomes will likely result in higher adoption of the treatment among physicians and patients.
Last year, the company announced favorable outcomes of the fully enrolled 800-patient FLASH registry in pulmonary embolism (PE). The primary endpoint of the registry was successfully met by FlowTriever for the treatment of PE. The company is also conducting a PEERLESS randomized controlled trial in PE patients.
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 existing clots in patients with these diseases.
Inari announced preliminary revenues for its fourth quarter last month. The company estimated its total revenues for the quarter to be between $107.0 million and $108.0 million, implying an improvement of 29% year over year (at the midpoint of the range). For full-year 2022, the company expects revenues to be between $382.7 million and $383.7 million.
The company expanded its territories to over 275 in 2022. Inari expects its total revenues in 2023 to be between $470 million to $480 million, indicating growth of approximately 23-25% over 2022.
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. These also depend on how keen physicians and hospitals are to adopt its products and perform catheter-based thrombectomy procedures for the treatment of venous thromboembolism.
The company’s inability to show the benefits of its products and catheter-based thrombectomy procedures will result in limited adoption of the same. However, it might not happen as quickly as expected, thus negatively impacting Inari’s business and financial condition.
Inari Medical, Inc. Price
Inari Medical, Inc. price | Inari Medical, Inc. Quote
Estimates Trend
For 2023, the Zacks Consensus Estimate for revenues is pegged at $476.5 million, indicating an improvement of 24.3% from the year-ago period’s reported figure. The same for the bottom line stands at a loss of 26 cents per share in 202, indicating a 57.7% improvement from 2022.
Stocks to Consider
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Cardinal Health, Inc. (CAH - Free Report) and Merit Medical Systems, Inc. (MMSI - Free Report) .
AMN Healthcare, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 3.3%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 10.9%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AMN Healthcarehas lost 8.8% compared with the industry’s 6% decline in the past six months.
Cardinal Health, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11.6%. CAH’s earnings surpassed estimates in two of the trailing four quarters and missed the same in the other two, the average beat being 6.4%.
Cardinal Health has gained 12% against the industry’s 3% decline in the past six months.
Merit Medical, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11%. MMSI’s earnings surpassed estimates in all the trailing four quarters, the average beat being 25.4%.
Merit Medicalhas gained 10.8% against the industry’s 3% decline in the past six months.