Inari Medical (NASDAQ:NARI) Price Target Cut to $46.00

Inari Medical (NASDAQ:NARI) had its price target dropped by research analysts at Truist Financial from $55.00 to $46.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price target would indicate a potential upside of 2.54% from the stock’s current price.

NARI has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Inari Medical in a report on Friday, August 9th. They issued a “buy” rating and a $68.00 price target on the stock. Canaccord Genuity Group increased their price target on shares of Inari Medical from $55.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. William Blair assumed coverage on shares of Inari Medical in a research report on Thursday, July 25th. They set an “outperform” rating for the company. Stifel Nicolaus assumed coverage on shares of Inari Medical in a report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price objective for the company. Finally, Leerink Partners initiated coverage on shares of Inari Medical in a report on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $57.44.

Inari Medical Stock Up 6.3 %

NASDAQ NARI opened at $44.86 on Monday. The company’s 50 day moving average is $44.40 and its 200-day moving average is $45.90. Inari Medical has a 12-month low of $36.73 and a 12-month high of $67.13. The firm has a market cap of $2.61 billion, a P/E ratio of -109.41 and a beta of 1.00.

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

Insider Buying and Selling at Inari Medical

In other Inari Medical news, Director William Hoffman sold 40,000 shares of the firm’s 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 directly owns 643,296 shares in the company, valued at approximately $29,482,255.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director William Hoffman sold 40,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 643,296 shares of the company’s stock, valued at $29,482,255.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mitch C. Hill sold 5,000 shares of the business’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 transaction of $239,950.00. Following the transaction, the chief financial officer now directly owns 179,600 shares of the company’s stock, valued at $8,619,004. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,000 shares of company stock worth $2,374,230. 10.60% of the stock is owned by corporate insiders.

Institutional Trading of Inari Medical

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Inari Medical by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 5,038,292 shares of the company’s stock worth $327,086,000 after purchasing an additional 325,586 shares during the period. State of Alaska Department of Revenue grew its holdings in Inari Medical by 462.4% during the 1st quarter. State of Alaska Department of Revenue now owns 31,095 shares of the company’s stock worth $1,491,000 after acquiring an additional 25,566 shares in the last quarter. Maryland State Retirement & Pension System bought a new position in Inari Medical during the 1st quarter worth about $886,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Inari Medical during the 1st quarter worth about $30,000. Finally, Texas Permanent School Fund Corp grew its holdings in Inari Medical by 1.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 44,858 shares of the company’s stock worth $2,152,000 after acquiring an additional 664 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

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.