Inari Medical (NASDAQ:NARI) Hits New 52-Week Low at $39.14

Shares of Inari Medical, Inc. (NASDAQ:NARI) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $39.14 and last traded at $39.27, with a volume of 169261 shares trading hands. The stock had previously closed at $40.78.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Canaccord Genuity Group reissued a “buy” rating and set a $75.00 price target on shares of Inari Medical in a report on Friday, April 12th. Piper Sandler lowered Inari Medical from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $85.00 to $55.00 in a report on Thursday, February 29th. Truist Financial decreased their price target on Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a research report on Friday, March 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price target on shares of Inari Medical in a research report on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.71.

Inari Medical Stock Performance

The stock has a 50-day simple moving average of $48.03 and a 200 day simple moving average of $55.75.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). Inari Medical had a positive return on equity of 1.23% and a negative net margin of 0.33%. The business had revenue of $132.10 million for the quarter, compared to analyst estimates of $131.82 million. During the same quarter in the previous year, the business posted ($0.11) earnings per share. The company’s revenue was up 22.5% compared to the same quarter last year. Equities analysts predict that Inari Medical, Inc. will post -0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Inari Medical news, Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $41.13, for a total transaction of $1,645,200.00. Following the completion of the sale, the director now directly owns 1,003,296 shares in the company, valued at approximately $41,265,564.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

Institutional investors have recently made changes to their positions in the company. Bamco Inc. NY lifted its holdings in shares of Inari Medical by 18.2% during the 3rd quarter. Bamco Inc. NY now owns 557,937 shares of the company’s stock valued at $36,489,000 after buying an additional 86,000 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Inari Medical during the 3rd quarter valued at about $2,564,000. Fiera Capital Corp lifted its holdings in shares of Inari Medical by 63.4% during the 3rd quarter. Fiera Capital Corp now owns 560,756 shares of the company’s stock valued at $36,673,000 after buying an additional 217,606 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Inari Medical by 19.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 47,390 shares of the company’s stock valued at $3,099,000 after buying an additional 7,720 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of Inari Medical by 37.0% during the 3rd quarter. New York State Common Retirement Fund now owns 281,427 shares of the company’s stock valued at $18,405,000 after buying an additional 76,072 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Inari Medical Company Profile

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.