Inari Medical (NASDAQ:NARI) Price Target Cut to $84.00 by Analysts at Wells Fargo & Company

Inari Medical (NASDAQ:NARI) had its price objective cut by Wells Fargo & Company from $100.00 to $84.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also issued reports on the company. Piper Sandler decreased their price objective on Inari Medical from $55.00 to $50.00 and set a neutral rating for the company in a report on Wednesday. Canaccord Genuity Group reissued a buy rating and set a $75.00 price target on shares of Inari Medical in a report on Friday, April 12th. Needham & Company LLC cut their price objective on shares of Inari Medical from $72.00 to $57.00 and set a buy rating on the stock in a research note on Wednesday. Finally, Truist Financial decreased their target price on shares of Inari Medical from $61.00 to $52.00 and set a hold rating for the company in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $65.71.

Inari Medical Trading Up 11.4 %

NARI stock opened at $41.60 on Wednesday. Inari Medical has a 1 year low of $36.73 and a 1 year high of $71.85. The stock’s fifty day moving average is $43.72 and its two-hundred day moving average is $53.87.

Inari Medical (NASDAQ:NARI) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.09). Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.64%. The firm had revenue of $132.10 million during the quarter, compared to the consensus estimate of $131.82 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. Equities analysts anticipate that Inari Medical will post -0.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Mitch C. Hill sold 6,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $40.96, for a total transaction of $245,760.00. Following the completion of the transaction, the chief financial officer now owns 181,294 shares in the company, valued at approximately $7,425,802.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director William Hoffman sold 1,451 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $40.00, for a total value of $58,040.00. Following the completion of the sale, the director now directly owns 999,782 shares of the company’s stock, valued at $39,991,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mitch C. Hill sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $40.96, for a total transaction of $245,760.00. Following the transaction, the chief financial officer now directly owns 181,294 shares in the company, valued at $7,425,802.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,451 shares of company stock worth $1,949,000. 10.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Inari Medical

A number of institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp raised its holdings in shares of Inari Medical by 54.3% during the third quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock worth $32,000 after acquiring an additional 171 shares in the last quarter. D.A. Davidson & CO. increased its position in Inari Medical by 1.8% in the 4th quarter. D.A. Davidson & CO. now owns 10,570 shares of the company’s stock worth $686,000 after purchasing an additional 188 shares during the last quarter. New York State Teachers Retirement System raised its stake in shares of Inari Medical by 0.4% during the 4th quarter. New York State Teachers Retirement System now owns 53,924 shares of the company’s stock worth $3,501,000 after purchasing an additional 233 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Inari Medical by 27.4% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock valued at $71,000 after buying an additional 236 shares in the last quarter. Finally, Retirement Systems of Alabama grew its stake in shares of Inari Medical by 0.6% in the 4th quarter. Retirement Systems of Alabama now owns 64,100 shares of the company’s stock valued at $4,161,000 after buying an additional 366 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Inari Medical Company Profile

Inari Medical, Inc builds minimally invasive, novel, and catheter-based mechanical thrombectomy devices and accessories for the specific disease states in the United States. The company provides ClotTriever system, which is designed to core, capture, and remove large clots from large vessels for treatment of deep vein thrombosis and peripheral thrombus; FlowTriever system, a large bore catheter-based aspiration and mechanical thrombectomy system to remove large clots from large vessels in the peripheral vasculature for treating pulmonary embolism and other complex venous thromboembolism cases; InThrill system to treat small vessel thrombosis; and LimFlow system for patients who have chronic limb-threatening ischemia with no suitable endovascular or surgical revascularization options and risk of major amputation.