Inari Medical (NASDAQ:NARI) Research Coverage Started at William Blair

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

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

Inari Medical Stock Down 2.5 %

Shares of NARI opened at $53.83 on Thursday. The company has a 50-day simple moving average of $49.78 and a 200-day simple moving average of $49.10. The company has a market capitalization 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.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $138.32 million. Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. On average, research analysts anticipate that Inari Medical will post -0.41 EPS for the current year.

Insider Buying and Selling at Inari Medical

In other Inari Medical news, Director William Hoffman sold 38,549 shares of Inari Medical stock in a transaction that occurred 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 directly owns 965,359 shares of the company’s stock, valued at $40,545,078. The sale was disclosed in a filing with the SEC, which is available at this link. 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 value of $1,619,058.00. Following the completion of the sale, the director now owns 965,359 shares in the company, valued at $40,545,078. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $910,086.80. Following the completion of the transaction, the insider now directly owns 313,257 shares of the company’s stock, valued at approximately $17,257,328.13. The disclosure for this sale can be found here. Insiders have sold a total of 261,293 shares of company stock valued at $13,113,558 over the last ninety days. Corporate insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

Several institutional investors have recently bought and sold shares of NARI. D.A. Davidson & CO. raised its position in Inari Medical by 1.8% in the fourth quarter. D.A. Davidson & CO. now owns 10,570 shares of the company’s stock worth $686,000 after acquiring an additional 188 shares in the last quarter. New York State Teachers Retirement System raised its position in Inari Medical by 0.4% in the fourth quarter. New York State Teachers Retirement System now owns 53,924 shares of the company’s stock worth $3,501,000 after acquiring an additional 233 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Inari Medical by 27.4% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock worth $71,000 after acquiring an additional 236 shares in the last quarter. Bessemer Group Inc. raised its position in Inari Medical by 16.4% in the first quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock worth $117,000 after acquiring an additional 344 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in Inari Medical by 7.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock worth $234,000 after acquiring an additional 348 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

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.