Inari Medical Stock Gained 21% on Thursday - Here's Why It Soared
Portfolio Pulse from Vandana Singh
Inari Medical Inc's stock gained 21% after reporting Q2 revenues of $119.0 million, up 28.3% Y/Y, beating the consensus of $116.28 million. The company also reported a Q2 EPS of $0.04, a turnaround from an EPS loss of $(0.19), beating the consensus of $(0.14). Inari Medical announced a commitment to a new trial and launched two new products. The company raised the FY23 revenue guidance to $482 million-$492 million.
August 04, 2023 | 2:24 pm
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Inari Medical's Q2 earnings beat consensus estimates, and the company raised its FY23 revenue guidance. This, along with the announcement of a new trial and product launches, led to a 21% increase in the stock price.
Inari Medical's better-than-expected Q2 earnings and raised FY23 guidance indicate strong financial performance and positive future outlook. The announcement of a new trial and product launches also signals growth potential, which likely contributed to the stock price increase.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100