Inari Medical, Inc. (NASDAQ:NARI) Given Average Rating of “Moderate Buy” by Analysts

Shares of Inari Medical, Inc. (NASDAQ:NARI) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $65.71.

Several research firms recently weighed in on NARI. Wells Fargo & Company dropped their price target on Inari Medical from $100.00 to $84.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Truist Financial reduced their price target on shares of Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a research report on Friday, March 22nd. Canaccord Genuity Group lowered their price objective on shares of Inari Medical from $75.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Needham & Company LLC cut their target price on shares of Inari Medical from $72.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Piper Sandler lowered their price target on shares of Inari Medical from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st.

Insider Transactions at Inari Medical

In related news, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction on 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 owns 1,003,296 shares of the company’s stock, valued at approximately $41,265,564.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Inari Medical news, CFO Mitch C. Hill sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $40.96, for a total transaction of $245,760.00. Following the completion of the sale, the chief financial officer now owns 181,294 shares of the company’s stock, valued at $7,425,802.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $41.13, for a total transaction of $1,645,200.00. Following the completion of the transaction, 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. Insiders have sold a total of 86,000 shares of company stock worth $3,568,058 in the last 90 days. 10.60% of the stock is owned by insiders.

Institutional Trading of Inari Medical

Several large investors have recently modified their holdings of the company. Texas Permanent School Fund Corp raised its holdings in Inari Medical by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 44,858 shares of the company’s stock worth $2,152,000 after acquiring an additional 664 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Inari Medical in the first quarter valued at about $30,000. New York State Teachers Retirement System increased its stake in shares of Inari Medical by 7.7% in the first quarter. New York State Teachers Retirement System now owns 58,097 shares of the company’s stock worth $2,787,000 after purchasing an additional 4,173 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Inari Medical by 76.4% during the 1st quarter. Louisiana State Employees Retirement System now owns 25,400 shares of the company’s stock worth $1,219,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Maryland State Retirement & Pension System bought a new stake in Inari Medical during the 1st quarter valued at approximately $886,000. 90.98% of the stock is owned by institutional investors.

Inari Medical Price Performance

NARI stock opened at $41.84 on Thursday. The firm has a market capitalization of $2.43 billion, a P/E ratio of -102.05 and a beta of 0.93. Inari Medical has a 52-week low of $36.73 and a 52-week high of $71.85. The company’s 50 day simple moving average is $42.83 and its 200-day simple moving average is $53.53.

Inari Medical (NASDAQ:NARI) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.09). The firm had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $131.82 million. Inari Medical had a negative return on equity of 1.65% and a negative net margin of 4.54%. The company’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. Sell-side analysts predict that Inari Medical will post -0.41 EPS for the current fiscal year.

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.