Inari Medical, Inc. (NASDAQ:NARI) Given Average Rating of “Moderate Buy” by Brokerages

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

NARI has been the topic of several recent research reports. Canaccord Genuity Group dropped their price target on Inari Medical from $75.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Piper Sandler dropped their price target on Inari Medical from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Needham & Company LLC dropped their price target on Inari Medical from $72.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Truist Financial decreased their price objective on Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Finally, Wells Fargo & Company decreased their price objective on Inari Medical from $100.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st.

Insider Buying and Selling

In related news, CFO Mitch C. Hill sold 5,000 shares of Inari Medical stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $47.60, for a total transaction of $238,000.00. Following the completion of the transaction, the chief financial officer now owns 181,294 shares in the company, valued at $8,629,594.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Mitch C. Hill sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $47.60, for a total transaction of $238,000.00. Following the completion of the sale, the chief financial officer now owns 181,294 shares in the company, valued at $8,629,594.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William Hoffman sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $50.13, for a total value of $3,007,800.00. Following the sale, the director now owns 865,359 shares of the company’s stock, valued at approximately $43,380,446.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 160,964 shares of company stock worth $7,502,234. Company insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

A number of hedge funds and other 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 in the first quarter valued at approximately $30,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Inari Medical by 27.4% in the fourth 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 in the last quarter. Covestor Ltd raised its position in shares of Inari Medical by 30.2% in the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after buying an additional 376 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Inari Medical by 16.4% in the first quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock valued at $117,000 after buying an additional 344 shares in the last quarter. Finally, Handelsinvest Investeringsforvaltning acquired a new stake in shares of Inari Medical in the fourth quarter valued at approximately $185,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Inari Medical Trading Up 1.6 %

Shares of Inari Medical stock opened at $46.16 on Friday. The stock’s fifty day simple moving average is $44.34 and its 200 day simple moving average is $51.25. Inari Medical has a 12 month low of $36.73 and a 12 month high of $71.85. The company has a market capitalization of $2.68 billion, a PE ratio of -112.59 and a beta of 1.02.

Inari Medical (NASDAQ:NARI) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.15). Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. The firm had revenue of $143.19 million during the quarter, compared to analyst estimates of $138.32 million. Analysts predict that Inari Medical will post -0.41 EPS for the current fiscal year.

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.