Inari Medical (NASDAQ:NARI) Upgraded by Leerink Partnrs to Hold

Leerink Partnrs upgraded shares of Inari Medical (NASDAQ:NARI) to a hold rating in a research report report published on Tuesday morning, Zacks.com reports. Leerink Partnrs also issued estimates for Inari Medical’s Q3 2024 earnings at ($0.08) EPS, Q4 2024 earnings at ($0.03) EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.03 EPS, Q3 2025 earnings at $0.03 EPS, Q4 2025 earnings at $0.06 EPS and FY2026 earnings at $0.37 EPS.

Several other equities analysts have also recently issued reports on the company. Piper Sandler reaffirmed a neutral rating and issued a $50.00 price objective on shares of Inari Medical in a research report on Monday, August 26th. Canaccord Genuity Group raised their price target on shares of Inari Medical from $55.00 to $71.00 and gave the company a buy rating in a report on Wednesday, July 31st. Wells Fargo & Company decreased their price objective on shares of Inari Medical from $84.00 to $65.00 and set an overweight rating for the company in a report on Wednesday, July 31st. Needham & Company LLC restated a hold rating on shares of Inari Medical in a report on Wednesday, July 31st. Finally, Leerink Partners assumed coverage on shares of Inari Medical in a research note on Tuesday. They set a market perform rating and a $47.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $59.50.

Inari Medical Price Performance

NARI opened at $43.74 on Tuesday. The firm has a market cap of $2.55 billion, a PE ratio of -106.68 and a beta of 1.01. The stock has a 50-day moving average price of $49.56 and a 200-day moving average price of $46.83. Inari Medical has a 1 year low of $36.73 and a 1 year high of $69.40.

Insider Activity

In related news, Director William Hoffman sold 60,000 shares of the business’s stock in a transaction on 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 in the company, valued at $42,174,615.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director William Hoffman sold 60,000 shares of the business’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 directly owns 743,296 shares in the company, valued at approximately $42,174,615.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mitch C. Hill sold 5,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $47.99, for a total value of $239,950.00. Following the transaction, the chief financial officer now owns 179,600 shares of the company’s stock, valued at approximately $8,619,004. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,780 shares of company stock worth $6,393,074. 10.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in Inari Medical by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 596,007 shares of the company’s stock worth $38,693,000 after acquiring an additional 41,555 shares in the last quarter. Norges Bank bought a new position in Inari Medical in the fourth quarter worth approximately $29,491,000. Motley Fool Asset Management LLC grew its stake in Inari Medical by 46.2% in the first quarter. Motley Fool Asset Management LLC now owns 64,677 shares of the company’s stock worth $3,103,000 after purchasing an additional 20,438 shares in the last quarter. Bamco Inc. NY increased its holdings in Inari Medical by 27.4% during the 1st quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock worth $37,288,000 after purchasing an additional 167,000 shares during the period. Finally, Point72 Europe London LLP lifted its holdings in shares of Inari Medical by 91.8% in the 4th quarter. Point72 Europe London LLP now owns 332,202 shares of the company’s stock worth $21,567,000 after buying an additional 158,997 shares during the period. 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.