Inari Medical (NASDAQ:NARI) Coverage Initiated by Analysts at Stifel Nicolaus

Stifel Nicolaus initiated coverage on shares of Inari Medical (NASDAQ:NARI) in a research report released on Tuesday morning, Benzinga reports. The brokerage issued a hold rating and a $50.00 price objective on the stock.

NARI has been the subject of several other research reports. Leerink Partners started coverage on shares of Inari Medical in a research report on Tuesday, September 3rd. They issued a market perform rating and a $47.00 target price for the company. William Blair started coverage on shares of Inari Medical in a research note on Thursday, July 25th. They issued an outperform rating for the company. Truist Financial reaffirmed a hold rating and issued a $55.00 price target (down from $60.00) on shares of Inari Medical in a research note on Wednesday, July 31st. Wells Fargo & Company reduced 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 note on Wednesday, July 31st. Finally, Leerink Partnrs raised shares of Inari Medical to a hold rating in a research note on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $58.44.

Inari Medical Trading Down 4.6 %

NASDAQ NARI opened at $44.10 on Tuesday. Inari Medical has a 52 week low of $36.73 and a 52 week high of $69.40. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -107.56 and a beta of 1.00. The company has a 50-day moving average price of $48.73 and a two-hundred day moving average price of $46.11.

Inari Medical (NASDAQ:NARI) last posted its earnings results on Tuesday, July 30th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.25). Inari Medical had a negative return on equity of 7.51% and a negative net margin of 10.42%. The firm had revenue of $145.82 million during the quarter, compared to the consensus estimate of $143.96 million. As a group, equities research analysts expect that Inari Medical will post -0.7 earnings per share for the current fiscal year.

Insider Activity at Inari Medical

In related news, CFO Mitch C. Hill sold 3,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $45.13, for a total transaction of $135,390.00. Following the completion of the sale, the chief financial officer now directly owns 179,600 shares of the company’s stock, valued at $8,105,348. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Mitch C. Hill sold 5,000 shares of the company’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 value of $239,950.00. Following the completion of the sale, the chief financial officer now owns 179,600 shares in the company, valued at approximately $8,619,004. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mitch C. Hill sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $45.13, for a total transaction of $135,390.00. Following the completion of the sale, the chief financial officer now owns 179,600 shares of the company’s stock, valued at approximately $8,105,348. The disclosure for this sale can be found here. Insiders sold a total of 115,780 shares of company stock valued at $6,290,464 over the last ninety days. Insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

Several hedge funds have recently made changes to their positions in the company. D.A. Davidson & CO. lifted its position in shares of Inari Medical by 1.8% in the 4th quarter. D.A. Davidson & CO. now owns 10,570 shares of the company’s stock valued at $686,000 after acquiring an additional 188 shares in the last quarter. Bessemer Group Inc. increased its stake in Inari Medical by 16.4% in the 1st quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock valued at $117,000 after buying an additional 344 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Inari Medical by 7.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock valued at $234,000 after buying an additional 348 shares during the period. Arizona State Retirement System increased its stake in Inari Medical by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock valued at $703,000 after buying an additional 358 shares during the period. Finally, Covestor Ltd increased its stake in Inari Medical by 30.2% in 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 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.