Inari Medical (NASDAQ:NARI) Now Covered by Piper Sandler

Piper Sandler assumed coverage on shares of Inari Medical (NASDAQ:NARIGet Rating) in a report issued on Tuesday, The Fly reports. The brokerage set an “overweight” rating on the stock.

Several other research firms have also issued reports on NARI. Canaccord Genuity Group lowered their target price on shares of Inari Medical from $102.00 to $96.00 in a report on Monday, March 14th. SVB Leerink raised their target price on shares of Inari Medical from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, February 24th. Canaccord Genuity Group cut their price target on Inari Medical from $102.00 to $96.00 and set a “buy” rating on the stock in a research report on Monday, March 14th. Bank of America began coverage on shares of Inari Medical in a report on Wednesday, March 23rd. They issued a “buy” rating for the company. Finally, Morgan Stanley reduced their price target on shares of Inari Medical from $119.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, February 24th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $106.80.

NARI opened at $60.91 on Tuesday. Inari Medical has a twelve month low of $50.50 and a twelve month high of $100.00. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of -2,030.33 and a beta of 1.73. The company has a 50-day simple moving average of $70.04 and a 200 day simple moving average of $78.45.

Inari Medical (NASDAQ:NARIGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. Inari Medical had a negative return on equity of 0.27% and a negative net margin of 0.25%. The business had revenue of $86.75 million for the quarter, compared to analyst estimates of $83.61 million. During the same quarter in the prior year, the company earned $0.13 earnings per share. The company’s quarterly revenue was up 51.1% on a year-over-year basis. Sell-side analysts anticipate that Inari Medical will post -0.83 EPS for the current fiscal year.

In other Inari Medical news, COO Andrew Hykes sold 5,000 shares of the firm’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $70.08, for a total transaction of $350,400.00. Following the transaction, the chief operating officer now directly owns 146,984 shares in the company, valued at approximately $10,300,638.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mitch C. Hill sold 7,500 shares of the business’s stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $60.47, for a total transaction of $453,525.00. Following the sale, the chief financial officer now directly owns 79,562 shares in the company, valued at approximately $4,811,114.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 126,500 shares of company stock valued at $9,611,980. 11.90% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. FourThought Financial LLC increased its stake in Inari Medical by 6.0% during the 1st quarter. FourThought Financial LLC now owns 2,299 shares of the company’s stock valued at $208,000 after purchasing an additional 130 shares in the last quarter. Trustcore Financial Services LLC raised its position in Inari Medical by 266.7% in the 1st quarter. Trustcore Financial Services LLC now owns 275 shares of the company’s stock valued at $25,000 after purchasing an additional 200 shares in the last quarter. Legal & General Group Plc raised its position in shares of Inari Medical by 0.8% during the 4th quarter. Legal & General Group Plc now owns 25,833 shares of the company’s stock worth $2,357,000 after acquiring an additional 209 shares in the last quarter. Wedbush Securities Inc. grew its stake in shares of Inari Medical by 4.3% in the 1st quarter. Wedbush Securities Inc. now owns 6,222 shares of the company’s stock valued at $564,000 after purchasing an additional 257 shares during the last quarter. Finally, Parkside Financial Bank & Trust acquired a new stake in shares of Inari Medical in the 1st quarter valued at approximately $25,000. Hedge funds and other institutional investors own 67.90% of the company’s stock.

Inari Medical Company Profile (Get Rating)

Inari Medical, Inc, a medical device company, develops, manufactures, markets, and sells devices for the interventional treatment of venous diseases in the United States. The company provides ClotTriever, a mechanical thrombectomy system, which is designed to core, capture, and remove large clots from large vessels, as well as for treatment of deep vein thrombosis; and FlowTriever, a large bore catheter-based aspiration and mechanical thrombectomy system, for treatment of pulmonary embolism.

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