Inari Medical (NASDAQ:NARI) Given New $67.00 Price Target at Robert W. Baird

Inari Medical (NASDAQ:NARI) had its price objective lifted by Robert W. Baird from $66.00 to $67.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages also recently weighed in on NARI. Stifel Nicolaus began coverage on shares of Inari Medical in a research report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Inari Medical in a research note on Friday, August 9th. They set a “buy” rating and a $68.00 target price for the company. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research note on Wednesday, October 9th. Leerink Partnrs raised shares of Inari Medical to a “hold” rating in a research note on Tuesday, September 3rd. Finally, Truist Financial cut their target price on shares of Inari Medical from $55.00 to $46.00 and set a “hold” rating for the company in a research note on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Inari Medical presently has a consensus rating of “Hold” and a consensus target price of $58.89.

Inari Medical Stock Performance

Shares of Inari Medical stock opened at $49.18 on Tuesday. The firm has a 50-day simple moving average of $43.51 and a two-hundred day simple moving average of $45.90. The company has a market cap of $2.87 billion, a P/E ratio of -36.43 and a beta of 1.00. Inari Medical has a fifty-two week low of $36.73 and a fifty-two week high of $67.13.

Inari Medical (NASDAQ:NARI) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $143.96 million. Inari Medical had a negative return on equity of 7.51% and a negative net margin of 10.42%. Equities research analysts forecast that Inari Medical will post -0.75 EPS for the current year.

Insider Activity at Inari Medical

In related news, CFO Mitch C. Hill sold 3,000 shares of the company’s stock in a transaction dated 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Mitch C. Hill sold 3,000 shares of the company’s stock in a transaction dated 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mitch C. Hill sold 5,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $47.99, for a total transaction of $239,950.00. Following the sale, the chief financial officer now directly owns 179,600 shares of the company’s stock, valued at approximately $8,619,004. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 88,000 shares of company stock valued at $4,009,340. Corporate insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Motley Fool Asset Management LLC raised its position in Inari Medical by 46.2% in the first quarter. Motley Fool Asset Management LLC now owns 64,677 shares of the company’s stock valued at $3,103,000 after purchasing an additional 20,438 shares during the period. Bamco Inc. NY raised its position in 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. Lighthouse Investment Partners LLC purchased a new stake in Inari Medical in the second quarter valued at $2,145,000. Integral Health Asset Management LLC raised its position in Inari Medical by 100.0% in the second quarter. Integral Health Asset Management LLC now owns 400,000 shares of the company’s stock valued at $19,260,000 after purchasing an additional 200,000 shares during the period. Finally, Maryland State Retirement & Pension System purchased a new stake in Inari Medical in the first quarter valued at $886,000. 90.98% of the stock is currently owned by hedge funds and other 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.