Inari Medical (NASDAQ:NARI) Price Target Cut to $46.00 by Analysts at Truist Financial

Inari Medical (NASDAQ:NARI) had its target price decreased by Truist Financial from $55.00 to $46.00 in a research note released on Monday morning, Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other equities analysts have also recently weighed in on NARI. William Blair initiated coverage on Inari Medical in a report on Thursday, July 25th. They set an “outperform” rating on the stock. Leerink Partnrs raised Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. Leerink Partners initiated coverage on Inari Medical in a report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price objective on the stock. Wells Fargo & Company decreased their price objective on Inari Medical from $84.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft started coverage on Inari Medical in a report on Friday, August 9th. They set a “buy” rating and a $68.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $57.44.

Inari Medical Stock Down 1.0 %

NASDAQ:NARI opened at $44.40 on Monday. The business’s 50-day moving average price is $44.34 and its two-hundred day moving average price is $45.88. Inari Medical has a twelve month low of $36.73 and a twelve month high of $67.13. The stock has a market cap of $2.58 billion, a P/E ratio of -108.29 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.25). Inari Medical had a negative net margin of 10.42% and a negative return on equity of 7.51%. The business had revenue of $145.82 million during the quarter, compared to analysts’ expectations of $143.96 million. On average, equities research analysts expect that Inari Medical will post -0.7 EPS for the current fiscal year.

Insider Transactions at Inari Medical

In related news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $55.23, for a total transaction of $165,690.00. Following the sale, the chief executive officer now directly owns 455,252 shares in the company, valued at $25,143,567.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $55.23, for a total transaction of $165,690.00. Following the sale, the chief executive officer now directly owns 455,252 shares in the company, valued at $25,143,567.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $45.83, for a total value of $1,833,200.00. Following the sale, the director now owns 643,296 shares in the company, valued at $29,482,255.68. 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 51,000 shares of company stock worth $2,374,230. 10.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NARI. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Inari Medical during the first quarter valued at $30,000. GAMMA Investing LLC raised its stake in shares of Inari Medical by 164.7% in the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock worth $34,000 after purchasing an additional 438 shares during the last quarter. Nisa Investment Advisors LLC raised its stake 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 last quarter. Covestor Ltd raised its stake 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 purchasing an additional 376 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Inari Medical by 39.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after purchasing an additional 522 shares during the last quarter. Hedge funds and other institutional investors 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.