Inari Medical (NASDAQ:NARI) Shares Gap Up to $42.39

Inari Medical, Inc. (NASDAQ:NARI) shares gapped up prior to trading on Tuesday . The stock had previously closed at $42.39, but opened at $44.02. Inari Medical shares last traded at $43.92, with a volume of 98,460 shares traded.

Wall Street Analysts Forecast Growth

NARI has been the subject of several recent research reports. Canaccord Genuity Group dropped their price target on Inari Medical from $79.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Truist Financial dropped their target price on Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a research report on Friday, March 22nd. Needham & Company LLC restated a “buy” rating and set a $72.00 target price on shares of Inari Medical in a research report on Wednesday, March 6th. Finally, Piper Sandler lowered Inari Medical from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $85.00 to $55.00 in a research report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Inari Medical has an average rating of “Moderate Buy” and an average target price of $73.71.

Inari Medical Stock Up 2.8 %

The business has a fifty day moving average of $51.88 and a 200-day moving average of $58.07.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). The firm had revenue of $132.10 million during the quarter, compared to analysts’ expectations of $131.82 million. Inari Medical had a negative net margin of 0.33% and a positive return on equity of 1.23%. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.11) EPS. As a group, research analysts expect that Inari Medical, Inc. will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director William Hoffman sold 40,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 1,003,296 shares of the company’s stock, valued at $41,265,564.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 10.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Inari Medical

A number of large investors have recently bought and sold shares of NARI. Fifth Third Bancorp increased its position in shares of Inari Medical by 54.3% during the third quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock worth $32,000 after purchasing an additional 171 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Inari Medical by 12.3% during the second quarter. Bessemer Group Inc. now owns 1,695 shares of the company’s stock worth $99,000 after purchasing an additional 186 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Inari Medical by 1.8% during the fourth quarter. D.A. Davidson & CO. now owns 10,570 shares of the company’s stock worth $686,000 after purchasing an additional 188 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Inari Medical by 1.8% during the third quarter. Commonwealth Equity Services LLC now owns 10,814 shares of the company’s stock worth $785,000 after purchasing an additional 191 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Inari Medical by 15.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,575 shares of the company’s stock worth $100,000 after purchasing an additional 208 shares in the last quarter. 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.