Inari Medical (NASDAQ:NARI) Reaches New 12-Month Low at $36.73

Shares of Inari Medical, Inc. (NASDAQ:NARI) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $36.73 and last traded at $37.61, with a volume of 280794 shares changing hands. The stock had previously closed at $38.59.

Analysts Set New Price Targets

NARI has been the subject of a number of research reports. Canaccord Genuity Group reissued 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 restated a “buy” rating and set a $72.00 price objective on shares of Inari Medical in a research note on Wednesday, March 6th. Truist Financial reduced their price objective on Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Finally, Piper Sandler cut Inari Medical from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $55.00 in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Inari Medical has a consensus rating of “Moderate Buy” and an average target price of $73.71.

Inari Medical Stock Down 2.2 %

The company has a 50 day moving average of $46.48 and a 200 day moving average of $54.98.

Inari Medical (NASDAQ:NARI) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.09). Inari Medical had a positive return on equity of 1.23% and a negative net margin of 0.33%. The business had revenue of $132.10 million during the quarter, compared to analyst estimates of $131.82 million. During the same quarter last year, the firm posted ($0.11) EPS. The company’s revenue was up 22.5% compared to the same quarter last year. Analysts forecast that Inari Medical, Inc. will post -0.39 EPS for the current year.

Insider Buying and Selling

In related news, Director William Hoffman sold 1,451 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $40.00, for a total value of $58,040.00. Following the transaction, the director now owns 999,782 shares in the company, valued at $39,991,280. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Mitch C. Hill sold 6,000 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $40.96, for a total value of $245,760.00. Following the completion of the sale, the chief financial officer now directly owns 181,294 shares of the company’s stock, valued at $7,425,802.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William Hoffman sold 1,451 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.00, for a total value of $58,040.00. Following the completion of the sale, the director now directly owns 999,782 shares of the company’s stock, valued at $39,991,280. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,451 shares of company stock worth $1,949,000. 10.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Inari Medical

Hedge funds and other institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System grew its holdings in shares of Inari Medical by 76.4% during the first quarter. Louisiana State Employees Retirement System now owns 25,400 shares of the company’s stock valued at $1,219,000 after purchasing an additional 11,000 shares during the last quarter. Maryland State Retirement & Pension System bought a new position in Inari Medical in the 1st quarter worth approximately $886,000. State of Alaska Department of Revenue grew its holdings in Inari Medical by 462.4% in the 1st quarter. State of Alaska Department of Revenue now owns 31,095 shares of the company’s stock worth $1,491,000 after buying an additional 25,566 shares in the last quarter. Vanguard Group Inc. lifted its position in Inari Medical by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 5,038,292 shares of the company’s stock worth $327,086,000 after purchasing an additional 325,586 shares during the period. Finally, Penn Capital Management Company LLC acquired a new stake in Inari Medical in the fourth quarter worth approximately $5,535,000. 90.98% of the stock is owned by 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.