Inari Medical, Inc. (NASDAQ:NARI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Inari Medical, Inc. (NASDAQ:NARI) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $65.71.

NARI has been the subject of a number of research reports. Wells Fargo & Company reduced their target price on shares of Inari Medical from $100.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Truist Financial reduced their price objective on Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Needham & Company LLC cut their target price on Inari Medical from $72.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Piper Sandler decreased their price target on Inari Medical from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Finally, Canaccord Genuity Group dropped their price target on Inari Medical from $75.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st.

Insider Activity

In related news, Director William Hoffman sold 40,000 shares of the stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 1,003,296 shares in the company, valued at approximately $41,265,564.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mitch C. Hill sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $40.96, for a total transaction of $245,760.00. Following the sale, the chief financial officer now owns 181,294 shares of the company’s stock, valued at $7,425,802.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,000 shares of company stock worth $3,568,058. 10.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Inari Medical

Hedge funds have recently modified their holdings of the stock. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Inari Medical in the first quarter valued at about $30,000. Fifth Third Bancorp increased its holdings in Inari Medical by 54.3% in the third quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock worth $32,000 after buying an additional 171 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Inari Medical by 27.4% in the fourth 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 during the last quarter. Nisa Investment Advisors LLC grew its position in 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 in the last quarter. Finally, Handelsinvest Investeringsforvaltning bought a new position in shares of Inari Medical during the 4th quarter valued at $185,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Inari Medical Stock Performance

NARI opened at $41.82 on Thursday. The company has a market capitalization of $2.43 billion, a PE ratio of -102.00 and a beta of 0.93. The stock’s fifty day moving average is $42.19 and its 200-day moving average is $53.36. Inari Medical has a one year low of $36.73 and a one year high of $71.85.

Inari Medical (NASDAQ:NARI) last issued 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 negative return on equity of 1.65% and a negative net margin of 4.54%. The business had revenue of $132.10 million during the quarter, compared to the consensus estimate of $131.82 million. During the same quarter last year, the firm posted ($0.11) earnings per share. Inari Medical’s revenue was up 22.5% compared to the same quarter last year. On average, equities research analysts forecast that Inari Medical will post -0.41 EPS for the current fiscal year.

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.