Needham analyst Mike Matson downgraded Inari Medical (NARI) to Hold from Buy without a price target. The analyst believes the company is losing share to Penumbra (PEN) and expects the venous thrombectomy market to get more competitive with the entrance of more companies. Needham remains bullish on Inari’s emerging therapies but does not believe the stock can work if the venous thrombectomy market slows more. With the shares having recovered to where they were before the Justice Department investigation was disclosed, they no longer account for the associated risk, contends Needham.
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