William Blair Initiates Coverage on Inari Medical (NASDAQ:NARI)

Stock analysts at William Blair initiated coverage on shares of Inari Medical (NASDAQ:NARI) in a research report issued on Thursday, Marketbeat.com reports. The firm set an “outperform” rating on the stock.

Several other analysts have also commented on NARI. Truist Financial raised their price objective on shares of Inari Medical from $47.00 to $60.00 and gave the stock a “hold” rating in a report on Tuesday, July 16th. Piper Sandler lowered their price objective on shares of 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 decreased their target price on shares of Inari Medical from $100.00 to $84.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Canaccord Genuity Group reduced their price target on shares of Inari Medical from $75.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Needham & Company LLC downgraded shares of Inari Medical from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.83.

Inari Medical Stock Down 2.5 %

NARI opened at $53.83 on Thursday. The stock has a market cap of $3.13 billion, a PE ratio of -131.29 and a beta of 1.01. Inari Medical has a 52 week low of $36.73 and a 52 week high of $71.85. The business’s fifty day simple moving average is $49.78 and its 200 day simple moving average is $49.10.

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

Insider Transactions at Inari Medical

In other news, Director William Hoffman sold 38,549 shares of Inari Medical stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $42.00, for a total transaction of $1,619,058.00. Following the transaction, the director now owns 965,359 shares in the company, valued at approximately $40,545,078. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director William Hoffman sold 38,549 shares of Inari Medical stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $42.00, for a total transaction of $1,619,058.00. Following the transaction, the director now owns 965,359 shares in the company, valued at approximately $40,545,078. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rebecca Chambers sold 964 shares of Inari Medical stock in a transaction on Monday, May 20th. The shares were sold at an average price of $45.39, for a total transaction of $43,755.96. Following the transaction, the director now owns 9,944 shares in the company, valued at approximately $451,358.16. The disclosure for this sale can be found here. Insiders have sold 261,293 shares of company stock worth $13,113,558 in the last 90 days. 10.60% of the stock is currently owned by insiders.

Institutional Trading of Inari Medical

Several hedge funds have recently bought and sold shares of NARI. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Inari Medical in the 1st quarter worth $30,000. GAMMA Investing LLC increased its holdings in shares of Inari Medical by 164.7% in the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock worth $34,000 after buying an additional 438 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Inari Medical by 83.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after buying an additional 435 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Inari Medical by 27.4% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock worth $71,000 after buying an additional 236 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Inari Medical by 30.2% in the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after buying an additional 376 shares during the last quarter. Hedge funds and other institutional investors 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.