Inari Medical (NASDAQ:NARI) Price Target Cut to $84.00

Inari Medical (NASDAQ:NARI) had its target price cut by Wells Fargo & Company from $100.00 to $84.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

NARI has been the subject of several other research reports. Truist Financial lowered their price target on shares of Inari Medical from $61.00 to $52.00 and set a hold rating for the company in a research report on Friday, March 22nd. Canaccord Genuity Group restated a buy rating and set a $75.00 price target on shares of Inari Medical in a research report on Friday, April 12th. Needham & Company LLC lowered their price target on shares of Inari Medical from $72.00 to $57.00 and set a buy rating for the company in a research report on Wednesday. Finally, Piper Sandler lowered their price target on shares of Inari Medical from $55.00 to $50.00 and set a neutral rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $65.71.

Inari Medical Trading Up 0.1 %

NARI stock opened at $42.03 on Wednesday. Inari Medical has a 1-year low of $36.73 and a 1-year high of $71.85. The firm has a fifty day moving average price of $43.12 and a two-hundred day moving average price of $53.68.

Inari Medical (NASDAQ:NARI) last released its earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.09). Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. The business had revenue of $132.10 million for the quarter, compared to the consensus estimate of $131.82 million. During the same quarter in the previous year, the firm earned ($0.11) EPS. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. Equities research analysts expect that Inari Medical will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Inari Medical news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $41.13, for a total value of $1,645,200.00. Following the completion of the sale, the director now directly owns 1,003,296 shares of the company’s stock, valued at approximately $41,265,564.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Inari Medical news, CFO Mitch C. Hill sold 6,000 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $40.96, for a total transaction of $245,760.00. Following the sale, the chief financial officer now directly owns 181,294 shares of the company’s stock, valued at approximately $7,425,802.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $41.13, for a total value of $1,645,200.00. Following the completion of the sale, the director now directly owns 1,003,296 shares of the company’s stock, valued at approximately $41,265,564.48. The disclosure for this sale can be found here. Insiders sold 86,000 shares of company stock valued at $3,568,058 over the last 90 days. 10.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Inari Medical

Institutional investors have recently bought and sold shares of the business. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Inari Medical in the 1st quarter valued at about $30,000. Fifth Third Bancorp boosted its stake in shares of Inari Medical by 54.3% during the 3rd quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock valued at $32,000 after buying an additional 171 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Inari Medical by 27.4% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock valued at $71,000 after acquiring an additional 236 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Inari Medical by 139.7% in the third quarter. Nisa Investment Advisors LLC now owns 1,189 shares of the company’s stock worth $78,000 after acquiring an additional 693 shares during the last quarter. Finally, Handelsinvest Investeringsforvaltning purchased a new stake in shares of Inari Medical during the fourth quarter worth $185,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.