Inari Medical jumps on upbeat preliminary Q4 revenue

Inari Medical

10/01/2023 16:17

** Shares of medical device maker Inari Medical Inc  NARI.O 
jump 9% to $69.80, biggest one-day pct. gain in two months
    ** NARI says Q4 revenue is expected to be between $107 mln
and $108 mln, above analysts' estimates of $99.12 mln from
Refinitiv, helped by demand for its blood clot devices
    ** Brokerage BTIG says the beat is driven by co's market
share gains from its devices to remove forms of blood clots like
pulmonary embolism (PE) and deep vein thrombosis (DVT)  
    ** NARI also expects full year 2023 revenue in the range of
$470 mln to $480 mln, above estimates of $450.8 mln
    ** Stock fell ~17.7% in the past 12 months
 (Reporting by Mariam E Sunny)
 ((Mariam.ESunny@thomsonreuters.com;))