Inari Medical (NASDAQ:NARI) Price Target Cut to $65.00

Inari Medical (NASDAQ:NARI) had its price objective decreased by Wells Fargo & Company from $84.00 to $65.00 in a report issued on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Truist Financial reaffirmed a hold rating and issued a $55.00 price objective (down previously from $60.00) on shares of Inari Medical in a report on Wednesday. William Blair assumed coverage on shares of Inari Medical in a research note on Thursday, July 25th. They set an outperform rating on the stock. Robert W. Baird cut their price objective on shares of Inari Medical from $65.00 to $63.00 and set an outperform rating on the stock in a research note on Wednesday. Canaccord Genuity Group lifted their target price on Inari Medical from $55.00 to $71.00 and gave the stock a buy rating in a report on Wednesday. Finally, Piper Sandler lowered their target price on Inari Medical from $55.00 to $50.00 and set a neutral rating on the stock in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $63.43.

Inari Medical Price Performance

NARI stock opened at $46.56 on Wednesday. The firm has a 50 day simple moving average of $50.21 and a 200-day simple moving average of $48.79. Inari Medical has a twelve month low of $36.73 and a twelve month high of $71.85.

Inari Medical (NASDAQ:NARI) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.15). The business had revenue of $143.19 million during the quarter, compared to analyst estimates of $138.32 million. Inari Medical had a negative return on equity of 7.38% and a negative net margin of 10.42%. On average, equities analysts anticipate that Inari Medical will post -0.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director William Hoffman sold 60,000 shares of Inari Medical stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $56.74, for a total value of $3,404,400.00. Following the transaction, the director now owns 743,296 shares of the company’s stock, valued at approximately $42,174,615.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $55.23, for a total transaction of $165,690.00. Following the transaction, the chief executive officer now owns 455,252 shares of the company’s stock, valued at approximately $25,143,567.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William Hoffman sold 60,000 shares of Inari Medical stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $56.74, for a total value of $3,404,400.00. Following the transaction, the director now directly owns 743,296 shares in the company, valued at approximately $42,174,615.04. The disclosure for this sale can be found here. Insiders have sold a total of 222,744 shares of company stock valued at $11,494,500 over the last three months. Company insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

Several institutional investors have recently made changes to their positions in NARI. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Inari Medical during the 1st quarter valued at about $30,000. GAMMA Investing LLC lifted its holdings in shares of Inari Medical by 164.7% during the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after buying an additional 438 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of 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 buying an additional 435 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings 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 valued at $71,000 after buying an additional 236 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Inari Medical by 30.2% during the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after buying an additional 376 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.