Inari Medical (NASDAQ:NARI) Given New $50.00 Price Target at Truist Financial

Inari Medical (NASDAQ:NARI) had its target price lifted by investment analysts at Truist Financial from $46.00 to $50.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price objective suggests a potential upside of 6.32% from the company’s previous close.

Several other equities research analysts have also recently issued reports on NARI. William Blair began coverage on shares of Inari Medical in a research report on Thursday, July 25th. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Inari Medical in a research report on Friday, August 9th. They issued a “buy” rating and a $68.00 price objective for the company. Leerink Partnrs raised shares of Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company lowered their price objective 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. Finally, Canaccord Genuity Group boosted their price objective on shares of Inari Medical from $71.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Inari Medical presently has an average rating of “Hold” and an average target price of $58.89.

Inari Medical Price Performance

Shares of NARI stock traded up $4.47 on Tuesday, hitting $47.03. 2,338,899 shares of the stock traded hands, compared to its average volume of 997,963. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -48.24 and a beta of 1.00. The firm has a 50 day simple moving average of $43.51 and a two-hundred day simple moving average of $45.90. Inari Medical has a 52 week low of $36.73 and a 52 week high of $67.13.

Inari Medical (NASDAQ:NARI) last announced its quarterly 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 10.42% and a negative return on equity of 7.51%. The company had revenue of $145.82 million during the quarter, compared to the consensus estimate of $143.96 million. Sell-side analysts forecast that Inari Medical will post -0.75 EPS for the current year.

Insider Activity

In related news, Director William Hoffman sold 40,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.83, for a total transaction of $1,833,200.00. Following the sale, the director now directly owns 643,296 shares of the company’s stock, valued at approximately $29,482,255.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Mitch C. Hill sold 5,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $47.99, for a total value of $239,950.00. Following the completion of the sale, the chief financial officer now directly owns 179,600 shares in the company, valued at $8,619,004. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William Hoffman sold 40,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $45.83, for a total transaction of $1,833,200.00. Following the completion of the sale, the director now owns 643,296 shares of the company’s stock, valued at $29,482,255.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 88,000 shares of company stock valued at $4,009,340 in the last ninety days. Insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Inari Medical by 11.1% during the first quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock worth $268,681,000 after buying an additional 561,562 shares during the period. Point72 Asset Management L.P. boosted its stake in Inari Medical by 113.3% during the second quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock worth $71,324,000 after buying an additional 786,691 shares during the period. Armistice Capital LLC boosted its stake in Inari Medical by 353.1% during the second quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock worth $48,595,000 after buying an additional 786,501 shares during the period. American Century Companies Inc. boosted its stake in shares of Inari Medical by 26.8% in the second quarter. American Century Companies Inc. now owns 980,917 shares of the company’s stock valued at $47,231,000 after purchasing an additional 207,485 shares during the period. Finally, Bamco Inc. NY boosted its stake in shares of Inari Medical by 27.4% in the first quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock valued at $37,288,000 after purchasing an additional 167,000 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

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.