Inari Medical (NASDAQ:NARI) Price Target Raised to $60.00 at Truist Financial

Inari Medical (NASDAQ:NARI) had its target price raised by Truist Financial from $47.00 to $60.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a hold rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Piper Sandler lowered their price objective on shares of Inari Medical from $55.00 to $50.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st. Canaccord Genuity Group reduced their target price on shares of Inari Medical from $75.00 to $55.00 and set a buy rating for the company in a report on Wednesday, May 1st. Needham & Company LLC dropped their price target on Inari Medical from $72.00 to $57.00 and set a buy rating on the stock in a report on Wednesday, May 1st. Finally, Wells Fargo & Company cut their price objective on Inari Medical from $100.00 to $84.00 and set an overweight rating for the company in a research report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $64.83.

Inari Medical Stock Up 0.3 %

Shares of NASDAQ NARI opened at $54.90 on Tuesday. Inari Medical has a 1 year low of $36.73 and a 1 year high of $71.85. The stock has a fifty day moving average price of $49.05 and a two-hundred day moving average price of $49.35.

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

Insider Transactions at Inari Medical

In related news, Director William Hoffman sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $56.74, for a total value of $3,404,400.00. Following the completion of the transaction, the director now owns 743,296 shares of the company’s stock, valued at approximately $42,174,615.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director William Hoffman sold 60,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $56.74, for a total transaction of $3,404,400.00. Following the transaction, the director now directly owns 743,296 shares of the company’s stock, valued at $42,174,615.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rebecca Chambers sold 964 shares of the 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 of the company’s stock, valued at $451,358.16. The disclosure for this sale can be found here. Insiders have sold a total of 258,293 shares of company stock valued at $12,947,868 over the last ninety days. Corporate insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

Institutional investors have recently made changes to their positions in the stock. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Inari Medical in the 1st quarter valued at approximately $30,000. GAMMA Investing LLC grew its holdings in shares of Inari Medical by 164.7% during the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after acquiring an additional 438 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Inari Medical by 83.5% during the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after acquiring an additional 435 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Inari Medical by 27.4% during the fourth 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 during the last quarter. Finally, Covestor Ltd grew its stake in Inari Medical by 30.2% in the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after purchasing an additional 376 shares in the last quarter. 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.