Inari Medical, Inc. (NASDAQ:NARI) Receives Consensus Rating of “Moderate Buy” from Brokerages

Inari Medical, Inc. (NASDAQ:NARIGet Rating) has been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $91.60.

Several brokerages have issued reports on NARI. Canaccord Genuity Group lifted their target price on shares of Inari Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, September 16th. Truist Financial lowered their price target on shares of Inari Medical from $84.00 to $75.00 and set a “hold” rating on the stock in a research report on Tuesday, December 20th. Canaccord Genuity Group boosted their price target on shares of Inari Medical from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, September 16th. Jefferies Financial Group assumed coverage on shares of Inari Medical in a research report on Wednesday, October 12th. They set a “buy” rating and a $88.00 price target on the stock. Finally, Wells Fargo & Company lowered their price target on shares of Inari Medical from $125.00 to $105.00 in a research report on Thursday, November 3rd.

Inari Medical Stock Up 5.9 %

Shares of NARI opened at $67.17 on Friday. Inari Medical has a 52-week low of $50.50 and a 52-week high of $100.00. The firm’s fifty day moving average is $70.81 and its two-hundred day moving average is $72.73. The stock has a market cap of $3.60 billion, a PE ratio of -159.93 and a beta of 1.21.

Inari Medical (NASDAQ:NARIGet Rating) last announced its earnings results on Wednesday, November 2nd. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.05. Inari Medical had a negative net margin of 6.23% and a negative return on equity of 6.02%. The company had revenue of $96.20 million for the quarter, compared to analysts’ expectations of $90.65 million. As a group, research analysts anticipate that Inari Medical will post -0.61 earnings per share for the current year.

Insider Activity at Inari Medical

In related news, Director Donald B. Milder sold 7,000 shares of the business’s stock in a transaction dated Tuesday, October 18th. The shares were sold at an average price of $80.07, for a total value of $560,490.00. Following the sale, the director now directly owns 3,192,614 shares in the company, valued at approximately $255,632,602.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Mitch C. Hill sold 12,750 shares of the business’s stock in a transaction dated Friday, October 14th. The shares were sold at an average price of $73.77, for a total value of $940,567.50. Following the sale, the chief financial officer now directly owns 71,986 shares in the company, valued at approximately $5,310,407.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Donald B. Milder sold 7,000 shares of the business’s stock in a transaction dated Tuesday, October 18th. The shares were sold at an average price of $80.07, for a total transaction of $560,490.00. Following the completion of the sale, the director now owns 3,192,614 shares in the company, valued at $255,632,602.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 274,250 shares of company stock worth $20,394,280. Company insiders own 11.90% of the company’s stock.

Institutional Trading of Inari Medical

A number of institutional investors and hedge funds have recently bought and sold shares of NARI. Wellington Management Group LLP increased its stake in Inari Medical by 46.8% during the first quarter. Wellington Management Group LLP now owns 4,626,607 shares of the company’s stock worth $419,355,000 after purchasing an additional 1,475,313 shares during the period. BlackRock Inc. increased its stake in Inari Medical by 18.8% during the third quarter. BlackRock Inc. now owns 5,415,796 shares of the company’s stock worth $393,404,000 after purchasing an additional 858,266 shares during the period. State Street Corp increased its stake in Inari Medical by 78.6% during the second quarter. State Street Corp now owns 1,302,857 shares of the company’s stock worth $88,581,000 after purchasing an additional 573,227 shares during the period. Vanguard Group Inc. increased its stake in Inari Medical by 13.4% during the first quarter. Vanguard Group Inc. now owns 3,518,646 shares of the company’s stock worth $318,930,000 after purchasing an additional 416,425 shares during the period. Finally, Brown Advisory Inc. increased its stake in Inari Medical by 55.2% during the second quarter. Brown Advisory Inc. now owns 1,078,093 shares of the company’s stock worth $73,299,000 after purchasing an additional 383,507 shares during the period. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Inari Medical Company Profile

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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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Analyst Recommendations for Inari Medical (NASDAQ:NARI)

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