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

Shares of Inari Medical, Inc. (NASDAQ:NARI) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $64.83.

Several brokerages have issued reports on NARI. Canaccord Genuity Group dropped their target price on Inari Medical from $75.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Piper Sandler dropped their price objective on Inari Medical from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Wells Fargo & Company reduced their target price on Inari Medical from $100.00 to $84.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Needham & Company LLC lowered shares of Inari Medical from a “buy” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, Truist Financial raised their price target on shares of Inari Medical from $47.00 to $60.00 and gave the stock a “hold” rating in a research note on Tuesday, July 16th.

Inari Medical Price Performance

NASDAQ NARI opened at $55.22 on Tuesday. The business’s 50 day moving average price is $49.25 and its 200-day moving average price is $49.08. Inari Medical has a fifty-two week low of $36.73 and a fifty-two week high of $71.85.

Inari Medical (NASDAQ:NARI) last announced its earnings results on Tuesday, April 30th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.15). The firm had revenue of $143.19 million during the quarter, compared to analysts’ expectations of $138.32 million. Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. On average, equities research analysts expect that Inari Medical will post -0.41 earnings per share for the current year.

Insider Buying and Selling

In other Inari Medical news, Director William Hoffman sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $50.13, for a total transaction of $3,007,800.00. Following the transaction, the director now owns 865,359 shares of the company’s stock, valued at approximately $43,380,446.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Inari Medical news, Director William Hoffman sold 60,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $50.13, for a total transaction of $3,007,800.00. Following the completion of the sale, the director now owns 865,359 shares in the company, valued at $43,380,446.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas Tu sold 16,520 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $55.09, for a total value of $910,086.80. Following the completion of the transaction, the insider now directly owns 313,257 shares of the company’s stock, valued at $17,257,328.13. The disclosure for this sale can be found here. Insiders sold a total of 258,293 shares of company stock valued at $12,947,868 over the last three months. 10.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Inari Medical

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in Inari Medical by 7.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 596,007 shares of the company’s stock valued at $38,693,000 after purchasing an additional 41,555 shares in the last quarter. Norges Bank purchased a new stake in shares of Inari Medical during the fourth quarter valued at $29,491,000. New York State Common Retirement Fund increased its position in shares of Inari Medical by 10.7% in the 4th quarter. New York State Common Retirement Fund now owns 311,410 shares of the company’s stock valued at $20,217,000 after acquiring an additional 29,983 shares during the period. Knights of Columbus Asset Advisors LLC raised its stake 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 worth $2,962,000 after acquiring an additional 22,780 shares during the last quarter. Finally, Motley Fool Asset Management LLC lifted its position in Inari Medical by 46.2% during the 1st quarter. Motley Fool Asset Management LLC now owns 64,677 shares of the company’s stock worth $3,103,000 after acquiring an additional 20,438 shares during the period. 90.98% of the stock is owned by hedge funds and other institutional investors.

About Inari Medical

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.