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Inari Medical, Inc. NARI shares rallied 30.6% in the last trading session to close at $65. 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 2.6% loss over the past four weeks.
Inari Medical recorded a strong price increase after it announced a definitive agreement to be acquired by Stryker Corporation. Per Stryker’s management, Inari Medical’s product portfolio is complementary to Stryker’s Neurovascular business and includes mechanical thrombectomy solutions for peripheral vascular diseases, such as deep vein thrombosis and pulmonary embolism.
This company is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of -180%. Revenues are expected to be $160.59 million, up 21.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Inari Medical, the consensus EPS estimate for the quarter has been revised 1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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 #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Inari Medical is part of the Zacks Medical - Instruments industry. Tandem Diabetes Care, Inc. TNDM, another stock in the same industry, closed the last trading session 1.4% higher at $37.36. TNDM has returned 22.3% in the past month.
For Tandem Diabetes Care , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.21. This represents a change of +22.2% from what the company reported a year ago. Tandem Diabetes Care currently has a Zacks Rank of #3.
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Inari Medical, Inc. (NARI) : Free Stock Analysis Report
Tandem Diabetes Care, Inc. (TNDM) : Free Stock Analysis Report