Inari Medical (NASDAQ:NARI) PT Raised to $94.00 at Canaccord Genuity Group

Inari Medical (NASDAQ:NARIGet Rating) had its target price raised by investment analysts at Canaccord Genuity Group from $92.00 to $94.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 35.06% from the stock’s previous close.

NARI has been the subject of several other reports. BTIG Research dropped their target price on Inari Medical from $130.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, June 24th. Truist Financial started coverage on Inari Medical in a research note on Monday, September 12th. They issued a “hold” rating and a $87.00 target price for the company. Morgan Stanley dropped their target price on Inari Medical from $108.00 to $93.00 and set an “overweight” rating for the company in a research note on Friday, July 15th. Finally, Piper Sandler started coverage on Inari Medical in a research note on Tuesday, June 21st. They set an “overweight” rating and a $100.00 price target for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Inari Medical has a consensus rating of “Moderate Buy” and an average target price of $94.71.

Inari Medical Stock Down 5.6 %

NASDAQ NARI opened at $69.60 on Friday. Inari Medical has a fifty-two week low of $50.50 and a fifty-two week high of $100.00. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of -240.00 and a beta of 1.49. The business has a fifty day moving average of $75.43 and a 200-day moving average of $75.56.

Inari Medical (NASDAQ:NARIGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04. The company had revenue of $92.74 million during the quarter, compared to analysts’ expectations of $88.04 million. Inari Medical had a negative return on equity of 4.60% and a negative net margin of 4.47%. As a group, analysts anticipate that Inari Medical will post -0.67 EPS for the current year.

Insider Transactions at Inari Medical

In other news, COO Andrew Hykes sold 5,000 shares of the company’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $70.31, for a total value of $351,550.00. Following the completion of the sale, the chief operating officer now owns 140,991 shares of the company’s stock, valued at $9,913,077.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO William Hoffman sold 5,275 shares of the company’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $75.29, for a total value of $397,154.75. Following the completion of the sale, the chief executive officer now owns 518,899 shares of the company’s stock, valued at $39,067,905.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Andrew Hykes sold 5,000 shares of the company’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $70.31, for a total value of $351,550.00. Following the completion of the sale, the chief operating officer now directly owns 140,991 shares of the company’s stock, valued at approximately $9,913,077.21. The disclosure for this sale can be found here. Insiders sold 155,204 shares of company stock valued at $11,677,586 over the last quarter. Company insiders own 11.90% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

Institutional investors and hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. boosted its holdings in Inari Medical by 54.4% in the second quarter. Federated Hermes Inc. now owns 3,539 shares of the company’s stock valued at $241,000 after purchasing an additional 1,247 shares during the last quarter. Brown Advisory Inc. boosted its holdings in Inari Medical by 55.2% in the second quarter. Brown Advisory Inc. now owns 1,078,093 shares of the company’s stock valued at $73,299,000 after purchasing an additional 383,507 shares during the last quarter. Legal & General Group Plc boosted its holdings in Inari Medical by 144.8% in the second quarter. Legal & General Group Plc now owns 63,516 shares of the company’s stock valued at $4,318,000 after purchasing an additional 37,574 shares during the last quarter. Walleye Capital LLC boosted its holdings in Inari Medical by 58.3% in the second quarter. Walleye Capital LLC now owns 8,014 shares of the company’s stock valued at $545,000 after purchasing an additional 2,952 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in Inari Medical by 34.1% in the second quarter. Thrivent Financial for Lutherans now owns 233,010 shares of the company’s stock valued at $15,842,000 after purchasing an additional 59,273 shares during the last quarter. Hedge funds and other institutional investors own 84.11% 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.

Featured Articles

Analyst Recommendations for Inari Medical (NASDAQ:NARI)

Receive News & Ratings for Inari Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inari Medical and related companies with MarketBeat.com's FREE daily email newsletter.