Inari Medical, Inc. (NASDAQ:NARI) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Inari Medical, Inc. (NASDAQ:NARI) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $65.71.

Several equities analysts have commented on the stock. Wells Fargo & Company dropped their price target 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. Needham & Company LLC dropped their price target on shares of Inari Medical from $72.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday. Canaccord Genuity Group dropped their price target on shares of Inari Medical from $75.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday. Piper Sandler lowered their target price on shares of Inari Medical from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Truist Financial lowered 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 note on Friday, March 22nd.

Inari Medical Stock Performance

NARI stock opened at $41.60 on Thursday. The firm has a market cap of $2.41 billion, a PE ratio of -1,386.67 and a beta of 0.84. The firm’s 50 day moving average price is $43.72 and its 200-day moving average price is $53.87. Inari Medical has a one year low of $36.73 and a one year high of $71.85.

Inari Medical (NASDAQ:NARI) last posted its earnings results 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 0.33% and a positive return on equity of 1.23%. The company had revenue of $132.10 million during the quarter, compared to analyst estimates of $131.82 million. During the same quarter last year, the business posted ($0.11) EPS. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. Equities research analysts predict that Inari Medical will post -0.25 EPS for the current fiscal year.

Insider Activity

In related news, Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction that occurred 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 owns 1,003,296 shares in the company, valued at $41,265,564.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Inari Medical news, CFO Mitch C. Hill sold 6,000 shares of the 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 owns 181,294 shares of the company’s stock, valued at $7,425,802.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William Hoffman sold 40,000 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $41.13, for a total transaction of $1,645,200.00. Following the transaction, the director now directly owns 1,003,296 shares in the company, valued at approximately $41,265,564.48. The disclosure for this sale can be found here. Insiders have sold 47,451 shares of company stock worth $1,949,000 over the last ninety days. 10.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Inari Medical

Several hedge funds and other institutional investors have recently made changes to their positions in NARI. Fifth Third Bancorp lifted its holdings in Inari Medical by 54.3% in the 3rd quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock worth $32,000 after buying an additional 171 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Inari Medical by 27.4% in 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 in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Inari Medical by 139.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,189 shares of the company’s stock worth $78,000 after buying an additional 693 shares in the last quarter. Handelsinvest Investeringsforvaltning acquired a new position in Inari Medical in the 4th quarter worth $185,000. Finally, Clear Street Markets LLC acquired a new position in Inari Medical in the 4th quarter worth $198,000. 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.