Inari Medical (NASDAQ:NARI) Price Target Raised to $52.00

Inari Medical (NASDAQ:NARI) had its price target increased by Piper Sandler from $50.00 to $52.00 in a research report report published on Tuesday, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other equities research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft initiated coverage on Inari Medical in a report on Friday, August 9th. They issued a “buy” rating and a $68.00 price objective on the stock. Truist Financial reduced their price target on shares of Inari Medical from $55.00 to $46.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. William Blair assumed coverage on shares of Inari Medical in a report on Thursday, July 25th. They issued an “outperform” rating for the company. Robert W. Baird upped their target price on shares of Inari Medical from $66.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Wells Fargo & Company decreased their price target on shares of Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $58.89.

Inari Medical Stock Performance

Inari Medical stock opened at $48.74 on Tuesday. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of -35.90 and a beta of 1.00. The company’s 50 day simple moving average is $43.56 and its 200-day simple moving average is $45.99. Inari Medical has a 1 year low of $36.73 and a 1 year high of $67.13.

Inari Medical (NASDAQ:NARI) last announced its earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.25). Inari Medical had a negative net margin of 13.68% and a negative return on equity of 10.09%. The firm had revenue of $145.82 million during the quarter, compared to analysts’ expectations of $143.96 million. Equities analysts expect that Inari Medical will post -0.74 earnings per share for the current year.

Insider Activity at Inari Medical

In other Inari Medical news, CFO Mitch C. Hill sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $47.99, for a total transaction of $239,950.00. Following the sale, the chief financial officer now owns 179,600 shares of the company’s stock, valued at approximately $8,619,004. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the transaction, the chief executive officer now directly owns 445,310 shares in the company, valued at approximately $22,265,500. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mitch C. Hill sold 5,000 shares of Inari Medical stock in a transaction on Monday, August 12th. The shares were sold at an average price of $47.99, for a total transaction of $239,950.00. Following the completion of the transaction, the chief financial officer now directly owns 179,600 shares in the company, valued at $8,619,004. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 131,000 shares of company stock valued at $6,161,340 over the last three months. 10.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NARI. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Inari Medical in the first quarter valued at about $30,000. GAMMA Investing LLC increased its position in Inari Medical by 164.7% in the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after acquiring an additional 438 shares during the period. Nisa Investment Advisors LLC raised its stake in Inari Medical by 83.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after acquiring an additional 435 shares during the last quarter. Covestor Ltd lifted its position in Inari Medical by 30.2% during the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after acquiring an additional 376 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of Inari Medical by 39.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after purchasing an additional 522 shares during the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

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.