Larry Biegelsen, an analyst from Wells Fargo, maintained the Buy rating on Inari Medical (NARI – Research Report). The associated price target is $100.00.
Larry Biegelsen has given his Buy rating due to a combination of factors indicating a strong financial performance and promising future prospects for Inari Medical. Key to his positive stance is the company’s preliminary fourth-quarter revenue for 2023, which not only exceeded expectations but also showcased a robust year-over-year growth of approximately 22%. This indicates a healthy demand for the company’s offerings, particularly due to increased procedure volumes and expansion into new therapy areas. Moreover, the company’s international performance has been solid, contributing to this optimistic outlook.
Further supporting the Buy rating is Inari Medical’s 2024 revenue guidance, which aligns with current market consensus and slightly edges out Biegelsen’s own estimate, reflecting a confident yet conservative growth projection. This projected growth, coupled with strategic expansion plans into Japan and China, positions the company for a broader market presence in the coming year. Additionally, Inari Medical’s updated timeline for achieving sustainable profitability in the first half of 2025, ahead of prior expectations, signals strong operational efficiency and financial management, underpinning the rationale for a Buy rating.
According to TipRanks, Biegelsen is a 5-star analyst with an average return of 11.9% and a 61.33% success rate. Biegelsen covers the Healthcare sector, focusing on stocks such as Johnson & Johnson, Glaukos, and Bausch + Lomb Corporation.
In another report released on January 5, Piper Sandler also maintained a Buy rating on the stock with a $85.00 price target.
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Inari Medical (NARI) Company Description:
Inari Medical Inc is a medical device company focused on developing products to treat patients suffering from venous diseases. Its product portfolio includes ClotTriever, for the removal of the clot from peripheral blood vessels and treats patients suffering from deep vein thrombosis. The FlowTreiver product is used for the treatment of pulmonary embolism. Geographically, the company has its presence across the United States.
Read More on NARI:
- Inari Medical Announces Preliminary 2023 Revenue and 2024 Guidance
- Inari Medical price target raised to $70 from $65 at Truist
- Inari Medical to Present at the 42nd Annual J.P. Morgan Healthcare Conference
- Inari Medical management to meet virtually with BTIG
- Inari Medical Announces First Patient Enrollment in PEERLESS II Randomized Controlled Trial (RCT)
