Inari Medical, Inc. (NASDAQ:NARI) Given Consensus Rating of “Hold” by Analysts

Inari Medical, Inc. (NASDAQ:NARI) has been assigned a consensus rating of “Hold” from the eleven analysts that are presently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $57.44.

Several research analysts recently weighed in on NARI shares. Wells Fargo & Company cut their price target 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. Truist Financial reduced their target price on Inari Medical from $55.00 to $46.00 and set a “hold” rating for the company in a report on Monday, October 14th. 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 target on the stock. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research note on Wednesday, October 9th. Finally, Leerink Partners began coverage on Inari Medical in a research report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 target price for the company.

Insider Buying and Selling

In other news, CFO Mitch C. Hill sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $45.13, for a total value of $135,390.00. Following the sale, the chief financial officer now owns 179,600 shares of the company’s stock, valued at $8,105,348. 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 at the SEC website. In other news, CFO Mitch C. Hill sold 3,000 shares of Inari Medical stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $45.13, for a total value of $135,390.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mitch C. Hill sold 5,000 shares of the stock in a transaction dated Monday, August 12th. The stock was 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 in the company, valued at $8,619,004. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 88,000 shares of company stock valued at $4,009,340. 10.60% of the stock is owned by insiders.

Institutional Trading of Inari Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Inari Medical by 11.1% in 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 last quarter. Point72 Asset Management L.P. increased its stake in Inari Medical by 113.3% in the second quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock valued at $71,324,000 after acquiring an additional 786,691 shares during the last quarter. Armistice Capital LLC raised its position in Inari Medical by 353.1% during the second quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock valued at $48,595,000 after purchasing an additional 786,501 shares in the last quarter. American Century Companies Inc. lifted its stake in Inari Medical by 26.8% during the second quarter. American Century Companies Inc. now owns 980,917 shares of the company’s stock worth $47,231,000 after purchasing an additional 207,485 shares during the last quarter. Finally, Bamco Inc. NY boosted its holdings in shares of Inari Medical by 27.4% in the 1st quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock worth $37,288,000 after purchasing an additional 167,000 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Inari Medical Stock Down 0.7 %

NARI stock opened at $44.11 on Thursday. The stock’s 50 day moving average is $43.88 and its 200-day moving average is $45.86. Inari Medical has a twelve month low of $36.73 and a twelve month high of $67.13. The firm has a market capitalization of $2.56 billion, a PE ratio of -107.59 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last issued its quarterly earnings data 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 company had revenue of $145.82 million for the quarter, compared to the consensus estimate of $143.96 million. On average, equities research analysts anticipate that Inari Medical will post -0.7 earnings per share for the current fiscal year.

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.