Inari Medical, Inc. (NASDAQ:NARI) Receives Average Recommendation of “Hold” from Brokerages

by · The Markets Daily

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

Several brokerages have recently issued reports on NARI. Stifel Nicolaus started coverage on Inari Medical in a research note on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price objective for the company. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a report on Wednesday, July 31st. Leerink Partners began coverage on Inari Medical in a research report on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 price target on the stock. Piper Sandler restated a “neutral” rating and issued a $50.00 target price on shares of Inari Medical in a research note on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Inari Medical in a report on Friday, August 9th. They set a “buy” rating and a $68.00 price objective on the stock.

Read Our Latest Research Report on Inari Medical

Insider Activity at Inari Medical

In other Inari Medical news, CFO Mitch C. Hill sold 3,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $45.13, for a total value of $135,390.00. Following the completion of the transaction, the chief financial officer now directly owns 179,600 shares in the company, valued at approximately $8,105,348. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Inari Medical news, CFO Mitch C. Hill sold 5,000 shares of Inari Medical stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $53.95, for a total transaction of $269,750.00. Following the transaction, the chief financial officer now directly owns 179,227 shares of the company’s stock, valued at $9,669,296.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mitch C. Hill sold 3,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $45.13, for a total transaction of $135,390.00. Following the sale, the chief financial officer now directly owns 179,600 shares of the company’s stock, valued at approximately $8,105,348. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 132,520 shares of company stock valued at $6,958,467. 10.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Inari Medical

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. raised its holdings in Inari Medical by 16.4% in the first quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock valued at $117,000 after acquiring an additional 344 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Inari Medical by 7.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock worth $234,000 after acquiring an additional 348 shares during the period. Arizona State Retirement System boosted its stake in Inari Medical by 2.5% during the second quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock valued at $703,000 after buying an additional 358 shares in the last quarter. Covestor Ltd boosted its holdings in Inari Medical by 30.2% during the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after buying an additional 376 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised 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 buying an additional 435 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

Inari Medical Price Performance

Shares of NASDAQ NARI opened at $41.92 on Friday. Inari Medical has a 1 year low of $36.73 and a 1 year high of $69.40. The company has a 50 day simple moving average of $45.27 and a 200-day simple moving average of $46.07. The company has a market capitalization of $2.44 billion, a P/E ratio of -102.24 and a beta of 1.00.

Inari Medical (NASDAQ:NARI – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.25). Inari Medical had a negative net margin of 10.42% and a negative return on equity of 7.51%. The firm had revenue of $145.82 million during the quarter, compared to analysts’ expectations of $143.96 million. As a group, research analysts expect that Inari Medical will post -0.7 EPS for the current year.

About Inari Medical

(Get Free Report

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.

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