Inari Medical (NASDAQ:NARI) Price Target Increased to $50.00 by Analysts at Truist Financial

Inari Medical (NASDAQ:NARI) had its price target lifted by Truist Financial from $46.00 to $50.00 in a research note published on Tuesday, Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other analysts have also recently weighed in on NARI. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a report on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on Inari Medical in a research report on Friday, August 9th. They issued a “buy” rating and a $68.00 price target on the stock. Leerink Partnrs raised shares of Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. 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. Finally, Stifel Nicolaus started coverage on shares of Inari Medical in a report on Tuesday, September 17th. They set a “hold” rating and a $50.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Inari Medical has a consensus rating of “Hold” and an average price target of $58.89.

Inari Medical Stock Up 15.6 %

NARI opened at $49.18 on Tuesday. The business’s fifty day simple moving average is $43.51 and its 200 day simple moving average is $45.90. Inari Medical has a 52 week low of $36.73 and a 52 week high of $67.13. The stock has a market cap of $2.87 billion, a PE ratio of -36.43 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings data on Tuesday, July 30th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.25). Inari Medical had a negative net margin of 10.42% and a negative return on equity of 7.51%. The company had revenue of $145.82 million for the quarter, compared to the consensus estimate of $143.96 million. As a group, equities analysts anticipate that Inari Medical will post -0.75 earnings per share 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 business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $27,067,509.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Inari Medical news, CFO Mitch C. Hill sold 3,000 shares of Inari Medical stock in a transaction on 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 of the company’s stock, valued at $8,105,348. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the sale, the director now directly owns 601,233 shares of the company’s stock, valued at approximately $27,067,509.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,000 shares of company stock worth $4,009,340 in the last quarter. 10.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NARI. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Inari Medical during the 1st quarter worth $30,000. GAMMA Investing LLC increased its holdings in shares of Inari Medical by 164.7% during the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after acquiring an additional 438 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of 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 acquiring an additional 435 shares in the last quarter. Covestor Ltd boosted its stake in Inari Medical by 30.2% in the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after purchasing an additional 376 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in Inari Medical by 39.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after purchasing an additional 522 shares during the last quarter. 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.