Truist Financial Boosts Inari Medical (NASDAQ:NARI) Price Target to $50.00

Inari Medical (NASDAQ:NARI - Free Report) had its target price increased by Truist Financial from $46.00 to $50.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other equities analysts also recently issued reports on NARI. Deutsche Bank Aktiengesellschaft began coverage on shares of Inari Medical in a research note on Friday, August 9th. They issued a "buy" rating and a $68.00 price objective for the company. Robert W. Baird upped their price objective on shares of Inari Medical from $66.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday. Canaccord Genuity Group upped their price objective on shares of Inari Medical from $71.00 to $74.00 and gave the company a "buy" rating in a research note on Tuesday. Leerink Partnrs upgraded shares of Inari Medical to a "hold" rating in a research note on Tuesday, September 3rd. Finally, Piper Sandler upped their target price on shares of Inari Medical from $50.00 to $52.00 and gave the company a "neutral" rating in a report on Tuesday. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $58.89.

Inari Medical Trading Up 15.6 %

Shares of NARI stock traded up $6.62 on Tuesday, reaching $49.18. 3,682,600 shares of the stock were exchanged, compared to its average volume of 1,004,392. The business's 50 day moving average price is $43.51 and its 200 day moving average price is $45.90. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of -49.68 and a beta of 1.00. Inari Medical has a twelve month low of $36.73 and a twelve month high of $67.13.

Inari Medical (NASDAQ:NARI - Get Free Report) last issued its earnings results on Tuesday, July 30th. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.25). The firm had revenue of $145.82 million for the quarter, compared to analyst estimates of $143.96 million. Inari Medical had a negative return on equity of 7.51% and a negative net margin of 10.42%. Equities research analysts forecast that Inari Medical will post -0.75 earnings per share for the current year.

Insider Buying and Selling

In related news, Director William Hoffman sold 40,000 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the completion of the transaction, the director now directly owns 601,233 shares of the company's stock, valued at $27,067,509.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Mitch C. Hill sold 5,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $47.99, for a total transaction of $239,950.00. Following the completion of the transaction, the chief financial officer now directly owns 179,600 shares of the company's stock, valued at $8,619,004. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director William Hoffman sold 40,000 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the transaction, the director now directly owns 601,233 shares of the company's stock, valued at $27,067,509.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,000 shares of company stock valued at $4,009,340 over the last ninety days. Corporate insiders own 10.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. grew its position in Inari Medical by 16.4% during the first quarter. Bessemer Group Inc. now owns 2,439 shares of the company's stock worth $117,000 after buying an additional 344 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Inari Medical by 7.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company's stock worth $234,000 after buying an additional 348 shares during the period. Arizona State Retirement System grew its position in Inari Medical by 2.5% during the second quarter. Arizona State Retirement System now owns 14,602 shares of the company's stock worth $703,000 after buying an additional 358 shares during the period. Covestor Ltd grew its position 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 during the period. Finally, Nisa Investment Advisors LLC grew its position in 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 buying an additional 435 shares during the period. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.