Inari Medical, Inc. (NASDAQ:NARI) Receives Average Recommendation of “Hold” from Analysts

Shares of Inari Medical, Inc. (NASDAQ:NARI) have been assigned an average recommendation of “Hold” from the eleven analysts that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $58.44.

A number of research firms have recently issued reports on NARI. Piper Sandler restated a “neutral” rating and issued a $50.00 price target on shares of Inari Medical in a research report on Monday, August 26th. Leerink Partnrs raised Inari Medical to a “hold” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company lowered their price target on shares of Inari Medical from $84.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Canaccord Genuity Group lifted their target price on shares of Inari Medical from $55.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Leerink Partners assumed coverage on shares of Inari Medical in a research note on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 price target for the company.

Insider Activity

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $50.08, for a total transaction of $150,240.00. Following the sale, the chief executive officer now directly owns 462,474 shares in the company, valued at $23,160,697.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director William Hoffman sold 60,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $56.74, for a total value of $3,404,400.00. Following the sale, the director now directly owns 743,296 shares in the company, valued at $42,174,615.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $50.08, for a total value of $150,240.00. Following the sale, the chief executive officer now owns 462,474 shares in the company, valued at approximately $23,160,697.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,520 shares of company stock valued at $8,111,707. 10.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Inari Medical

A number of large investors have recently made changes to their positions in NARI. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Inari Medical in the first quarter valued at $30,000. GAMMA Investing LLC boosted its holdings in Inari Medical by 164.7% in the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after purchasing an additional 438 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Inari Medical by 83.5% during the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after purchasing an additional 435 shares in the last quarter. Covestor Ltd boosted its holdings in shares of 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 in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Inari Medical by 39.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after buying an additional 522 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Inari Medical Trading Up 1.3 %

Shares of NARI stock opened at $41.20 on Friday. Inari Medical has a twelve month low of $36.73 and a twelve month high of $69.40. The stock has a 50 day moving average of $46.60 and a 200 day moving average of $46.08. The stock has a market cap of $2.40 billion, a P/E ratio of -100.49 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 the consensus estimate of ($0.16) by ($0.25). The company had revenue of $145.82 million during the quarter, compared to analysts’ expectations of $143.96 million. Inari Medical had a negative return on equity of 7.51% and a negative net margin of 10.42%. On average, research analysts predict that Inari Medical will post -0.7 earnings per share 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.