Truist Financial Upgrades Inari Medical Price Target to $70.00
April 21, 2023
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Inari Medical ($NASDAQ:NARI), a healthcare technology company, has seen its stock price recently upgraded by Truist Financial in Defense World. Inari Medical specializes in the development of innovative medical devices and solutions for the treatment of life-threatening conditions. The company’s patented technologies are designed to improve patient outcomes, reduce costs, and provide immediate access to improved care.
In addition, Inari Medical’s device portfolio consists of devices used in the treatment of vascular, interventional, and acute conditions such as thrombosis, stroke, and sepsis. With its innovative products, the company is seeking to make a positive impact on patient health and care. As such, investors who have taken notice of the increased rating may find this an attractive opportunity for long-term investments.
Price History
On Thursday, Truist Financial upgraded the price target of Inari Medical stock to $70.00, as the stock opened at $65.1 and closed at $66.7, representing a 1.9% increase from its previous closing price of $65.5. This is the second consecutive day of increases in the stock’s price, demonstrating the confidence that investors are gaining in Inari Medical. The company has been making strides in the medical technology space and investors are taking notice. Moving forward, further developments in its products and services as well as positive performance could result in more investor confidence and further growth of Inari Medical’s stock price. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Inari Medical. More…
| Total Revenues | Net Income | Net Margin |
| 383.47 | -29.27 | -7.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Inari Medical. More…
| Operations | Investing | Financing |
| -13.97 | -195.22 | 177.14 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Inari Medical. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 504.15 | 87.15 | 7.72 |
Key Ratios Snapshot
Some of the financial key ratios for Inari Medical are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 95.7% | – | -6.8% |
| FCF Margin | ROE | ROA |
| -6.2% | -3.9% | -3.2% |
Analysis
At GoodWhale we recently conducted an analysis of INARI MEDICAL‘s fundamentals and found that it is a high risk investment in terms of financial and business aspects. This was determined by our Risk Rating system, which takes into account a variety of factors such as financial statements, cash flow statements, and other financial journals. We detected three risk warnings in the balance sheet, cashflow statement, and financial journal of INARI MEDICAL. These risks can be difficult to spot without the comprehensive analysis that we perform, which is why we urge anyone considering investing in INARI MEDICAL to register with us before making any decisions. We want to ensure that our clients make well-informed choices and are confident in their investments. More…
Peers
Its competitors are OncoSil Medical Ltd, ShockWave Medical Inc, and Vycor Medical Inc.
– OncoSil Medical Ltd ($ASX:OSL)
OncoSil Medical Ltd is a medical device company that develops, manufactures and markets products for the treatment of cancer. The company has a market cap of 47.58M as of 2022 and a Return on Equity of -82.6%. OncoSil Medical’s products are designed to target and destroy cancer cells while sparing healthy tissue. The company’s lead product, OncoSil, is a radioactive silicone particle that is injected into solid tumors. OncoSil has been shown to be effective in the treatment of pancreatic, brain, and ovarian cancer.
– ShockWave Medical Inc ($NASDAQ:SWAV)
As of 2022, ShockWave Medical Inc has a market cap of 10.19B and a Return on Equity of 12.48%. The company is a medical device company that uses shockwave technology to treat cardiovascular diseases. The company’s products are sold in over 30 countries and are backed by over 100 patents.
– Vycor Medical Inc ($OTCPK:VYCO)
Vycor Medical Inc is a publicly traded company with a market capitalization of 3.1 million as of 2022. The company has a return on equity of 6.36%, which is relatively high compared to other companies in the same industry. Vycor Medical Inc is a medical device company that specializes in the development and commercialization of minimally invasive products for the neurosurgery market. The company’s products are used by surgeons to treat conditions such as brain tumors, cerebral aneurysms, and skull-base tumors.
Summary
INARI Medical (NASDAQ:NARI) has recently seen its price target raised to $70.00 by Truist Financial. This increase in price target indicates that the company is expected to perform well in the coming months. Analysts have praised the company’s strong balance sheet and its potential to continue to generate strong revenues in the future. They also praised their customer service, innovative product offerings, and strong leadership.
In addition, analysts have noted that the company has a strong competitive position in the medical device field, as well as a well-diversified customer base. Furthermore, investors have seen signs of improving margins, as well as increased focus on cost control and efficiency. In conclusion, INARI Medical appears to be a promising stock for investors looking for long-term investment opportunities.
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