Inari Medical (NASDAQ:NARI) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Inari Medical (NASDAQ:NARI) in a research note released on Wednesday, Benzinga reports.

Other equities analysts also recently issued research reports about the company. William Blair assumed coverage on Inari Medical in a research note on Thursday, July 25th. They issued an outperform rating on the stock. Piper Sandler reduced their price target on shares of Inari Medical from $55.00 to $50.00 and set a neutral rating for the company in a research report on Wednesday, May 1st. Truist Financial raised their price objective on shares of Inari Medical from $47.00 to $60.00 and gave the stock a hold rating in a report on Tuesday, July 16th. Wells Fargo & Company dropped their target price on shares of Inari Medical from $100.00 to $84.00 and set an overweight rating on the stock in a research note on Wednesday, May 1st. Finally, Canaccord Genuity Group decreased their price target on shares of Inari Medical from $75.00 to $55.00 and set a buy rating for the company in a research note on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $63.43.

Inari Medical Price Performance

Shares of NASDAQ NARI opened at $47.31 on Wednesday. The company has a 50-day moving average price of $50.20 and a 200-day moving average price of $48.76. The stock has a market capitalization of $2.76 billion, a P/E ratio of -115.39 and a beta of 1.01. Inari Medical has a 1 year low of $36.73 and a 1 year high of $71.85.

Inari Medical (NASDAQ:NARI) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.15). The company had revenue of $143.19 million for the quarter, compared to analyst estimates of $138.32 million. Inari Medical had a negative net margin of 10.42% and a negative return on equity of 7.51%. As a group, equities research analysts anticipate that Inari Medical will post -0.62 earnings per share for the current fiscal year.

Insider Activity at Inari Medical

In other Inari Medical news, Director William Hoffman sold 60,000 shares of Inari Medical 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 completion of the transaction, the director now owns 865,359 shares of the company’s stock, valued at approximately $43,380,446.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Inari Medical news, Director William Hoffman sold 60,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $50.13, for a total value of $3,007,800.00. Following the completion of the transaction, the director now directly owns 865,359 shares of the company’s stock, valued at approximately $43,380,446.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas Tu sold 16,520 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $55.09, for a total transaction of $910,086.80. Following the transaction, the insider now owns 313,257 shares of the company’s stock, valued at $17,257,328.13. The disclosure for this sale can be found here. In the last three months, insiders have sold 222,744 shares of company stock worth $11,494,500. 10.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Inari Medical

Institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates bought a new position in shares of Inari Medical in the fourth quarter worth approximately $216,000. Pacer Advisors Inc. grew its stake in Inari Medical by 79.8% in the 4th quarter. Pacer Advisors Inc. now owns 7,688 shares of the company’s stock worth $499,000 after buying an additional 3,412 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Inari Medical by 5.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 50,075 shares of the company’s stock worth $3,261,000 after buying an additional 2,685 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of Inari Medical by 0.4% during the 4th quarter. New York State Teachers Retirement System now owns 53,924 shares of the company’s stock valued at $3,501,000 after buying an additional 233 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Inari Medical during the 4th quarter worth $935,000. 90.98% of the stock is currently owned by institutional investors.

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.