Inari Medical (NASDAQ:NARI) Reaches New 12-Month Low at $36.73

Inari Medical, Inc. (NASDAQ:NARI)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $36.73 and last traded at $37.61, with a volume of 280794 shares trading hands. The stock had previously closed at $38.59.

Analysts Set New Price Targets

NARI has been the subject of several analyst reports. Truist Financial dropped their target price on Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Piper Sandler cut Inari Medical from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $85.00 to $55.00 in a report on Thursday, February 29th. Canaccord Genuity Group restated a “buy” rating and issued a $75.00 target price on shares of Inari Medical in a report on Friday, April 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price target on shares of Inari Medical in a research note on Wednesday, March 6th. Two equities 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.71.

Inari Medical Stock Down 2.2 %

The company has a 50 day moving average price of $46.48 and a 200 day moving average price of $54.98.

Inari Medical (NASDAQ:NARI) last posted its earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $132.10 million for the quarter, compared to analyst estimates of $131.82 million. During the same period in the previous year, the company posted ($0.11) EPS. Inari Medical’s revenue was up 22.5% on a year-over-year basis. Sell-side analysts expect that Inari Medical, Inc. will post -0.39 earnings per share for the current year.

Insider Buying and Selling

In related news, Director William Hoffman sold 40,000 shares of the 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 transaction, the director now owns 1,003,296 shares of the company’s stock, valued at approximately $41,265,564.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Inari Medical news, CFO Mitch C. Hill sold 6,000 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $40.96, for a total value of $245,760.00. Following the sale, the chief financial officer now owns 181,294 shares of the company’s stock, valued at approximately $7,425,802.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Hoffman sold 40,000 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $41.13, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,451 shares of company stock valued at $1,949,000. Corporate insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

Hedge funds have recently bought and sold shares of the stock. Knights of Columbus Asset Advisors LLC raised its position in Inari Medical by 99.7% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 45,621 shares of the company’s stock valued at $2,962,000 after purchasing an additional 22,780 shares in the last quarter. Bamco Inc. NY raised its position in Inari Medical by 18.2% in the 3rd quarter. Bamco Inc. NY now owns 557,937 shares of the company’s stock valued at $36,489,000 after purchasing an additional 86,000 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Inari Medical in the 3rd quarter valued at about $2,564,000. Fiera Capital Corp raised its position in Inari Medical by 63.4% in the 3rd quarter. Fiera Capital Corp now owns 560,756 shares of the company’s stock valued at $36,673,000 after purchasing an additional 217,606 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of Inari Medical by 19.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 47,390 shares of the company’s stock valued at $3,099,000 after acquiring an additional 7,720 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

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.