Inari Medical, Inc. (NASDAQ:NARI) Receives $57.44 Consensus Price Target from Brokerages

Shares of Inari Medical, Inc. (NASDAQ:NARI) have earned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $57.44.

Several equities research analysts have recently issued reports on NARI shares. Stifel Nicolaus began coverage on Inari Medical in a research report on Tuesday, September 17th. They set a “hold” rating and a $50.00 target price for the company. Robert W. Baird decreased their price objective on shares of Inari Medical from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Piper Sandler reiterated a “neutral” rating and issued a $50.00 target price on shares of Inari Medical in a research note on Monday, August 26th. Leerink Partners assumed coverage on shares of Inari Medical in a research note on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price target for the company. Finally, William Blair initiated coverage on shares of Inari Medical in a report on Thursday, July 25th. They issued an “outperform” rating on the stock.

Inari Medical Stock Performance

Shares of NARI stock opened at $43.70 on Thursday. Inari Medical has a 52-week low of $36.73 and a 52-week high of $67.13. The company has a 50-day simple moving average of $43.65 and a two-hundred day simple moving average of $45.88. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -106.59 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last issued its quarterly earnings results on Tuesday, July 30th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.25). The business had revenue of $145.82 million for the quarter, compared to analysts’ expectations of $143.96 million. Inari Medical had a negative net margin of 10.42% and a negative return on equity of 7.51%. On average, sell-side analysts forecast that Inari Medical will post -0.75 EPS for the current fiscal year.

Insider Activity at Inari Medical

In related news, CFO Mitch C. Hill sold 3,000 shares of the firm’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 value of $135,390.00. Following the completion of the transaction, the chief financial officer now directly owns 179,600 shares of the company’s stock, valued at approximately $8,105,348. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the sale, the director now directly owns 601,233 shares in the company, valued at $27,067,509.66. 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 link. Also, CFO Mitch C. Hill sold 3,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was 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 in the company, valued at approximately $8,105,348. 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 have sold 88,000 shares of company stock worth $4,009,340. 10.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Inari Medical

Several hedge funds have recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in Inari Medical in the 1st quarter valued at $30,000. GAMMA Investing LLC raised its position in shares of Inari Medical by 164.7% in the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock worth $34,000 after buying an additional 438 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Inari Medical by 83.5% during the second 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 period. Covestor Ltd grew its position in Inari Medical by 30.2% during the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after buying an additional 376 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Inari Medical by 39.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after acquiring an additional 522 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

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.