Inari Medical, Inc. (NASDAQ:NARI) Given Average Recommendation of "Hold" by Analysts

Inari Medical, Inc. (NASDAQ:NARI - Get Free Report) has been given an average rating of "Hold" by the eleven brokerages that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $57.44.

Several analysts recently weighed in on NARI shares. Piper Sandler restated a "neutral" rating and issued a $50.00 price target on shares of Inari Medical in a research note on Monday, August 26th. 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 target on the stock. Robert W. Baird cut their price target on Inari Medical from $65.00 to $63.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 31st. Canaccord Genuity Group increased their target price on Inari Medical from $55.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Finally, Truist Financial cut their target price on Inari Medical from $55.00 to $46.00 and set a "hold" rating on the stock in a research note on Monday, October 14th.

Insider Buying and Selling

In related news, Director William Hoffman sold 40,000 shares of the firm's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total value of $1,800,800.00. Following the transaction, the director now directly owns 601,233 shares of the company's stock, valued at approximately $27,067,509.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Mitch C. Hill sold 5,000 shares of the firm's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $47.99, for a total value of $239,950.00. Following the transaction, the chief financial officer now directly owns 179,600 shares of the company's stock, valued at approximately $8,619,004. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Hoffman sold 40,000 shares of the firm's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total value of $1,800,800.00. Following the completion of the transaction, the director now directly owns 601,233 shares in the company, valued at approximately $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. In the last three months, insiders have sold 88,000 shares of company stock valued at $4,009,340. 10.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Inari Medical

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Inari Medical by 11.1% during the first quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company's stock valued at $268,681,000 after acquiring an additional 561,562 shares during the period. Point72 Asset Management L.P. raised its holdings in Inari Medical by 113.3% during the second quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company's stock valued at $71,324,000 after acquiring an additional 786,691 shares during the period. Armistice Capital LLC raised its holdings in Inari Medical by 353.1% during the second quarter. Armistice Capital LLC now owns 1,009,252 shares of the company's stock valued at $48,595,000 after acquiring an additional 786,501 shares during the period. American Century Companies Inc. lifted its position in shares of Inari Medical by 26.8% in the second quarter. American Century Companies Inc. now owns 980,917 shares of the company's stock worth $47,231,000 after buying an additional 207,485 shares in the last quarter. Finally, Bamco Inc. NY lifted its position in shares of Inari Medical by 27.4% in the first quarter. Bamco Inc. NY now owns 777,152 shares of the company's stock worth $37,288,000 after buying an additional 167,000 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

Inari Medical Stock Down 0.3 %

Shares of NASDAQ:NARI traded down $0.15 during trading on Thursday, hitting $43.96. The stock had a trading volume of 473,423 shares, compared to its average volume of 988,569. Inari Medical has a 12 month low of $36.73 and a 12 month high of $67.13. The company has a market capitalization of $2.56 billion, a PE ratio of -107.59 and a beta of 1.00. The firm's fifty day moving average is $43.88 and its 200 day moving average is $45.86.

Inari Medical (NASDAQ:NARI - Get Free Report) last announced its earnings results 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 return on equity of 7.51% and a negative net margin of 10.42%. The firm had revenue of $145.82 million during the quarter, compared to the consensus estimate of $143.96 million. Equities research analysts expect that Inari Medical will post -0.7 EPS for the current fiscal 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.