Inari Medical: A Strong Buy on Growth and Market Expansion Potential

In a report released yesterday, William Plovanic from Canaccord Genuity maintained a Buy rating on Inari Medical (NARI – Research Report), with a price target of $55.00.

William Plovanic has given his Buy rating due to a combination of factors surrounding Inari Medical’s positioning and growth prospects. Plovanic’s analysis underscores the company’s capacity to escalate its revenue streams through the continued expansion of mechanical thrombectomy use in the venous thromboembolism (VTE) sector. He points out that Inari is broadening its market presence not only by advancing in the already established VTE space but also through the integration of novel technologies and international market penetration. His assessment takes into account the significant market growth potential and Inari’s strong hold in that space, despite the competitive dynamics.

Moreover, Plovanic perceives the recent market pullback as an advantageous entry point for investors, noting that Inari’s stock is trading at a discount compared to its peers with similar revenue growth trajectories. Despite conceding some market share to competitors, Plovanic emphasizes that Inari’s market is growing robustly, and the company’s strategy is more focused on market expansion rather than just competition. With expectations of sustained growth in the U.S. VTE business and the belief that the competitive share shift will stabilize, Plovanic reaffirms a Buy rating with confidence in the company’s future performance.

According to TipRanks, Plovanic is an analyst with an average return of -2.7% and a 41.82% success rate. Plovanic covers the Healthcare sector, focusing on stocks such as Shockwave Medical, Inari Medical, and Insulet.

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

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.