Inari Medical (NASDAQ:NARI) PT Raised to $74.00 at Canaccord Genuity Group

Inari Medical (NASDAQ:NARI) had its price target raised by equities research analysts at Canaccord Genuity Group from $71.00 to $74.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 73.87% from the stock’s current price.

A number of other equities analysts also recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Inari Medical from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday. Leerink Partnrs raised shares of Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. William Blair assumed coverage on shares of Inari Medical in a report on Thursday, July 25th. They set an “outperform” rating on the stock. Stifel Nicolaus assumed coverage on Inari Medical in a research note on Tuesday, September 17th. They set a “hold” rating and a $50.00 target price on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a research note on Tuesday. 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, the stock has an average rating of “Hold” and an average target price of $58.44.

Inari Medical Price Performance

NARI opened at $42.56 on Tuesday. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -42.99 and a beta of 1.00. The firm’s fifty day moving average price is $43.51 and its two-hundred day moving average price is $45.90. Inari Medical has a 1 year low of $36.73 and a 1 year high of $67.13.

Inari Medical (NASDAQ:NARI) last posted its quarterly earnings data 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 firm had revenue of $145.82 million for the quarter, compared to analysts’ expectations of $143.96 million. Inari Medical had a negative return on equity of 7.51% and a negative net margin of 10.42%. As a group, equities analysts anticipate that Inari Medical will post -0.75 EPS for the current year.

Insider Activity at Inari Medical

In related news, CFO Mitch C. Hill sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $45.13, for a total value of $135,390.00. Following the sale, the chief financial officer now directly owns 179,600 shares in the company, valued at approximately $8,105,348. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director William Hoffman sold 40,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total value 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mitch C. Hill sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $45.13, for a total value of $135,390.00. Following the completion of the sale, the chief financial officer now owns 179,600 shares in the company, valued at $8,105,348. 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 88,000 shares of company stock worth $4,009,340. Company insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

A number of institutional investors and hedge funds have recently modified their holdings of NARI. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Inari Medical during the 1st quarter worth approximately $30,000. GAMMA Investing LLC grew its position in shares of Inari Medical by 164.7% during the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after purchasing an additional 438 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings 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 during the period. Covestor Ltd raised its position in shares of Inari Medical by 30.2% in the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after buying an additional 376 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake 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 buying an additional 522 shares during the period. 90.98% of the stock is 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.