Analysts Set Inari Medical, Inc. (NASDAQ:NARI) Price Target at $65.71

Inari Medical, Inc. (NASDAQ:NARI) has been given an average rating of “Moderate Buy” by the seven analysts that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $65.71.

Several research analysts have issued reports on the company. Wells Fargo & Company dropped their price objective on Inari Medical from $100.00 to $84.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Piper Sandler lowered their target price on Inari Medical from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Needham & Company LLC lowered their target price on Inari Medical from $72.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Truist Financial lowered their target price 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. Finally, Canaccord Genuity Group lowered their target price on Inari Medical from $75.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st.

Insider Buying and Selling

In related news, Director Rebecca Chambers sold 964 shares of Inari Medical stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $45.39, for a total value of $43,755.96. Following the completion of the sale, the director now directly owns 9,944 shares in the company, valued at $451,358.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Inari Medical news, Director William Hoffman sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $50.13, for a total transaction of $3,007,800.00. Following the transaction, the director now owns 865,359 shares in the company, valued at $43,380,446.67. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Rebecca Chambers sold 964 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $45.39, for a total value of $43,755.96. Following the transaction, the director now owns 9,944 shares in the company, valued at approximately $451,358.16. The disclosure for this sale can be found here. Insiders sold a total of 161,224 shares of company stock worth $7,514,191 over the last three months. 10.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Inari Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. boosted its holdings in 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 buying an additional 188 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in Inari Medical by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 53,924 shares of the company’s stock worth $3,501,000 after buying an additional 233 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted 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 purchasing an additional 236 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Inari Medical by 16.4% during the 1st quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock valued at $117,000 after purchasing an additional 344 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in shares of Inari Medical by 0.6% during the 4th quarter. Retirement Systems of Alabama now owns 64,100 shares of the company’s stock valued at $4,161,000 after purchasing an additional 366 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Inari Medical Trading Up 1.1 %

NARI opened at $46.99 on Friday. Inari Medical has a 1-year low of $36.73 and a 1-year high of $71.85. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of -114.61 and a beta of 1.02. The business has a 50 day moving average of $45.03 and a 200-day moving average of $50.68.

Inari Medical (NASDAQ:NARI) last issued its earnings results on Tuesday, April 30th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.15). The firm had revenue of $143.19 million during the quarter, compared to the consensus estimate of $138.32 million. Inari Medical had a negative return on equity of 1.65% and a negative net margin of 4.54%. Equities analysts predict that Inari Medical will post -0.41 EPS for the current 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.