Inari Medical (NASDAQ:NARI) Research Coverage Started at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Inari Medical (NASDAQ:NARI) in a research note issued to investors on Tuesday, Benzinga reports. The firm set a “hold” rating and a $50.00 price target on the stock. Stifel Nicolaus’ price objective points to a potential upside of 13.38% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a report on Wednesday, July 31st. Leerink Partnrs upgraded shares of Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. Piper Sandler reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Inari Medical in a research report on Monday, August 26th. Truist Financial reaffirmed a “hold” rating and set a $55.00 price objective (down previously from $60.00) on shares of Inari Medical in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Inari Medical in a research report on Friday, August 9th. They set a “buy” rating and a $68.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Inari Medical presently has a consensus rating of “Hold” and a consensus price target of $58.44.

Inari Medical Price Performance

NASDAQ:NARI traded down $2.15 during trading hours on Tuesday, reaching $44.10. The company’s stock had a trading volume of 993,652 shares, compared to its average volume of 1,014,457. The business’s 50-day moving average is $48.73 and its 200-day moving average is $46.11. Inari Medical has a one year low of $36.73 and a one year high of $69.40. The company has a market cap of $2.56 billion, a price-to-earnings ratio of -107.56 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last announced its earnings results on Tuesday, July 30th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.25). Inari Medical had a negative return on equity of 7.51% and a negative net margin of 10.42%. The firm had revenue of $145.82 million during the quarter, compared to the consensus estimate of $143.96 million. On average, sell-side analysts predict that Inari Medical will post -0.7 EPS for the current fiscal year.

Insider Buying and Selling at Inari Medical

In other news, Director William Hoffman sold 60,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $56.74, for a total value of $3,404,400.00. Following the sale, the director now owns 743,296 shares of the company’s stock, valued at approximately $42,174,615.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Thomas Tu sold 16,520 shares of Inari Medical 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 sale, the insider now directly owns 313,257 shares of the company’s stock, valued at approximately $17,257,328.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Hoffman sold 60,000 shares of Inari Medical stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $56.74, for a total value of $3,404,400.00. Following the completion of the sale, the director now owns 743,296 shares of the company’s stock, valued at $42,174,615.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 115,780 shares of company stock valued at $6,290,464. 10.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Inari Medical

A number of institutional investors and hedge funds have recently modified their holdings of the business. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Inari Medical during the first quarter valued at approximately $30,000. GAMMA Investing LLC raised its position in Inari Medical by 164.7% in the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after buying an additional 438 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Inari Medical by 83.5% in the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after purchasing an additional 435 shares in the last quarter. Covestor Ltd boosted its stake in shares of Inari Medical by 30.2% during 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. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Inari Medical by 39.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after purchasing an additional 522 shares during the last quarter. 90.98% of the stock is owned by institutional investors.

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.