Inari Medical (NASDAQ:NARI) PT Lowered to $55.00

Inari Medical (NASDAQ:NARI) had its price objective decreased by Canaccord Genuity Group from $75.00 to $55.00 in a research note published on Wednesday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on the stock. Needham & Company LLC lowered their price objective on shares of Inari Medical from $72.00 to $57.00 and set a buy rating for the company in a research report on Wednesday. Wells Fargo & Company reduced their target price on shares of Inari Medical from $100.00 to $84.00 and set an overweight rating for the company in a research note on Wednesday. Truist Financial dropped their price target on Inari Medical from $61.00 to $52.00 and set a hold rating on the stock in a research note on Friday, March 22nd. Finally, Piper Sandler cut their price target on Inari Medical from $55.00 to $50.00 and set a neutral rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Inari Medical currently has a consensus rating of Moderate Buy and a consensus target price of $65.71.

Inari Medical Price Performance

NASDAQ:NARI opened at $42.03 on Wednesday. Inari Medical has a 1 year low of $36.73 and a 1 year high of $71.85. The stock has a 50-day moving average price of $43.12 and a two-hundred day moving average price of $53.65.

Inari Medical (NASDAQ:NARI) last released 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 1.65%. The business had revenue of $132.10 million for the quarter, compared to the consensus estimate of $131.82 million. During the same quarter last year, the firm earned ($0.11) EPS. The company’s revenue for the quarter was up 22.5% on a year-over-year basis. Research analysts expect that Inari Medical will post -0.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Inari Medical

In related news, CFO Mitch C. Hill sold 6,000 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $40.96, for a total transaction of $245,760.00. Following the sale, the chief financial officer now owns 181,294 shares in the company, valued at $7,425,802.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Inari Medical news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $41.13, for a total transaction of $1,645,200.00. Following the sale, the director now directly owns 1,003,296 shares of the company’s stock, valued at $41,265,564.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mitch C. Hill sold 6,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 181,294 shares of the company’s stock, valued at approximately $7,425,802.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,000 shares of company stock worth $3,568,058. Insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

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

About Inari Medical

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.