Inari Medical’s (NARI) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Inari Medical (NASDAQ:NARI) in a research note released on Tuesday, Benzinga reports.

Several other analysts have also recently weighed in on NARI. Truist Financial cut their price objective on Inari Medical from $55.00 to $46.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Wells Fargo & Company cut their price objective on Inari Medical from $84.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on Inari Medical in a research report on Friday, August 9th. They set a “buy” rating and a $68.00 price objective on the stock. Piper Sandler lifted their price objective on Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Stifel Nicolaus assumed coverage on Inari Medical in a research report on Tuesday, September 17th. They set a “hold” rating and a $50.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Inari Medical presently has an average rating of “Hold” and a consensus price target of $58.89.

Inari Medical Price Performance

Shares of NASDAQ:NARI opened at $48.40 on Tuesday. Inari Medical has a 1 year low of $36.73 and a 1 year high of $67.13. The company has a market cap of $2.83 billion, a PE ratio of -35.85 and a beta of 1.00. The stock’s 50-day moving average is $43.50 and its 200 day moving average is $45.97.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.25). The business had revenue of $145.82 million for the quarter, compared to analysts’ expectations of $143.96 million. Inari Medical had a negative net margin of 13.68% and a negative return on equity of 10.09%. Analysts expect that Inari Medical will post -0.74 EPS for the current fiscal year.

Insider Buying and Selling at Inari Medical

In other Inari Medical news, CFO Mitch C. Hill sold 5,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $47.99, for a total transaction of $239,950.00. Following the sale, the chief financial officer now directly owns 179,600 shares in the company, valued at approximately $8,619,004. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Inari Medical news, Director William Hoffman sold 40,000 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the sale, the director now directly owns 601,233 shares in the company, valued at approximately $27,067,509.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mitch C. Hill sold 5,000 shares of the 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 sale, the chief financial officer now owns 179,600 shares in the company, valued at approximately $8,619,004. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 131,000 shares of company stock worth $6,161,340. Insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

Several institutional investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. boosted its stake in Inari Medical by 16.4% during the 1st quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock valued at $117,000 after purchasing an additional 344 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Inari Medical by 7.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock valued at $234,000 after buying an additional 348 shares during the period. Arizona State Retirement System lifted its holdings in shares of Inari Medical by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock valued at $703,000 after buying an additional 358 shares during the period. Covestor Ltd lifted its holdings in shares of Inari Medical by 30.2% during the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after buying an additional 376 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Inari Medical by 83.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after buying an additional 435 shares during the period. 90.98% of the stock is currently 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.