Brokerages Set Inari Medical, Inc. (NASDAQ:NARI) Target Price at $58.44

Shares of Inari Medical, Inc. (NASDAQ:NARI) have been assigned an average rating of “Hold” from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $58.44.

Several research analysts recently issued reports on the company. Leerink Partnrs raised Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. William Blair assumed coverage on shares of Inari Medical in a report on Thursday, July 25th. They set an “outperform” rating on the stock. Canaccord Genuity Group increased their target price on shares of Inari Medical from $55.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Stifel Nicolaus assumed coverage on shares of Inari Medical in a research report on Tuesday, September 17th. They set a “hold” rating and a $50.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a research report on Wednesday, July 31st.

Insiders Place Their Bets

In other news, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $55.23, for a total transaction of $165,690.00. Following the completion of the transaction, the chief executive officer now directly owns 455,252 shares of the company’s stock, valued at approximately $25,143,567.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.83, for a total value of $1,833,200.00. Following the completion of the sale, the director now owns 643,296 shares of the company’s stock, valued at approximately $29,482,255.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $55.23, for a total transaction of $165,690.00. Following the sale, the chief executive officer now directly owns 455,252 shares in the company, valued at $25,143,567.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 132,520 shares of company stock valued at $6,958,467. Company insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

A number of institutional investors have recently modified their holdings of NARI. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Inari Medical during the 1st quarter valued at $30,000. GAMMA Investing LLC raised its stake 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 purchasing an additional 438 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Inari Medical by 83.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after purchasing an additional 435 shares in the last quarter. Covestor Ltd boosted its stake in Inari Medical by 30.2% in the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after purchasing an additional 376 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Inari Medical by 39.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after buying an additional 522 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Inari Medical Trading Down 2.8 %

Inari Medical stock opened at $41.61 on Friday. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -101.49 and a beta of 1.00. The firm’s fifty day moving average price is $45.78 and its two-hundred day moving average price is $46.09. Inari Medical has a 1-year low of $36.73 and a 1-year high of $69.40.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.25). The business had revenue of $145.82 million during the quarter, compared to the consensus estimate of $143.96 million. Inari Medical had a negative net margin of 10.42% and a negative return on equity of 7.51%. On average, research analysts forecast that Inari Medical will post -0.7 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.