Inari Medical (NASDAQ:NARI) PT Raised to $50.00

Inari Medical (NASDAQ:NARI) had its target price lifted by investment analysts at Truist Financial from $46.00 to $50.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price target points to a potential upside of 6.32% from the company’s previous close.

NARI has been the topic of a number of other research reports. Robert W. Baird raised their price objective on shares of Inari Medical from $66.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday. Wells Fargo & Company cut their price objective on shares of Inari Medical from $84.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Leerink Partners initiated coverage on shares of Inari Medical in a report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Inari Medical in a report on Friday, August 9th. They issued a “buy” rating and a $68.00 target price on the stock. Finally, Stifel Nicolaus initiated coverage on shares of Inari Medical in a report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $58.89.

Inari Medical Trading Up 10.5 %

NASDAQ:NARI traded up $4.47 during mid-day trading on Tuesday, hitting $47.03. The stock had a trading volume of 2,338,899 shares, compared to its average volume of 997,963. The stock has a 50-day simple moving average of $43.51 and a two-hundred day simple moving average of $45.90. The company has a market capitalization of $2.74 billion, a PE ratio of -48.24 and a beta of 1.00. Inari Medical has a twelve month low of $36.73 and a twelve month high of $67.13.

Inari Medical (NASDAQ:NARI) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $145.82 million for the quarter, compared to analyst estimates of $143.96 million. Sell-side analysts predict that Inari Medical will post -0.75 EPS for the current fiscal year.

Insider Transactions at Inari Medical

In other news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the transaction, the director now directly owns 601,233 shares of the company’s stock, valued at $27,067,509.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Mitch C. Hill sold 5,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $47.99, for a total value of $239,950.00. Following the sale, the chief financial officer now directly owns 179,600 shares of the company’s stock, valued at approximately $8,619,004. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the completion of the transaction, the director now owns 601,233 shares in the company, valued at approximately $27,067,509.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 88,000 shares of company stock valued at $4,009,340 in the last ninety days. 10.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Inari Medical by 11.1% during the 1st quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock worth $268,681,000 after acquiring an additional 561,562 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Inari Medical by 113.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock worth $71,324,000 after acquiring an additional 786,691 shares during the period. Armistice Capital LLC lifted its holdings in shares of Inari Medical by 353.1% during the 2nd quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock worth $48,595,000 after acquiring an additional 786,501 shares during the period. American Century Companies Inc. lifted its holdings in shares of Inari Medical by 26.8% during the 2nd quarter. American Century Companies Inc. now owns 980,917 shares of the company’s stock worth $47,231,000 after acquiring an additional 207,485 shares during the period. Finally, Bamco Inc. NY lifted its holdings in shares of 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 acquiring an additional 167,000 shares during the period. 90.98% of the stock is currently owned by hedge funds and other 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.