Inari Medical (NASDAQ:NARI) Price Target Cut to $46.00

Inari Medical (NASDAQ:NARI - Get Free Report) had its target price cut by equities research analysts at Truist Financial from $55.00 to $46.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's price objective points to a potential upside of 9.00% from the stock's current price.

NARI has been the subject of a number of other research reports. Canaccord Genuity Group raised their price objective on Inari Medical from $55.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Stifel Nicolaus assumed coverage on shares of Inari Medical in a research note on Tuesday, September 17th. They issued a "hold" rating and a $50.00 price target for the company. Robert W. Baird reduced their price objective on shares of Inari Medical from $65.00 to $63.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 31st. Piper Sandler reissued a "neutral" rating and set a $50.00 price objective on shares of Inari Medical in a report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Inari Medical in a research note on Friday, August 9th. They issued a "buy" rating and a $68.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $57.44.

Inari Medical Stock Up 1.0 %

Shares of NARI traded up $0.40 during mid-day trading on Monday, reaching $42.20. 1,047,054 shares of the stock traded hands, compared to its average volume of 1,001,033. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -102.93 and a beta of 1.00. The stock has a fifty day simple moving average of $44.40 and a 200 day simple moving average of $45.90. Inari Medical has a 12-month low of $36.73 and a 12-month high of $67.13.

Inari Medical (NASDAQ:NARI - Get Free Report) last issued its quarterly earnings data 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 during 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%. On average, equities research analysts expect that Inari Medical will post -0.7 earnings per share for the current fiscal year.

Insider Activity

In other Inari Medical news, CFO Mitch C. Hill sold 3,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $45.13, for a total value of $135,390.00. Following the sale, the chief financial officer now directly owns 179,600 shares in the company, valued at approximately $8,105,348. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Inari Medical news, CFO Mitch C. Hill sold 5,000 shares of the business's 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 sale, the chief financial officer now directly owns 179,600 shares of the company's stock, valued at $8,619,004. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mitch C. Hill sold 3,000 shares of Inari Medical stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $45.13, for a total value of $135,390.00. Following the completion of the sale, the chief financial officer now directly owns 179,600 shares in the company, valued at approximately $8,105,348. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,000 shares of company stock valued at $5,778,630. 10.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in Inari Medical by 67.2% in the third quarter. GAMMA Investing LLC now owns 1,177 shares of the company's stock valued at $49,000 after acquiring an additional 473 shares during the last quarter. Handelsbanken Fonder AB increased its position in Inari Medical by 22.1% during the third quarter. Handelsbanken Fonder AB now owns 16,000 shares of the company's stock worth $660,000 after buying an additional 2,900 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Inari Medical in the third quarter valued at approximately $625,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Inari Medical during the 2nd quarter worth approximately $104,000. Finally, Maven Securities LTD raised its stake in Inari Medical by 33.3% in the 2nd quarter. Maven Securities LTD now owns 20,000 shares of the company's stock valued at $963,000 after acquiring an additional 5,000 shares during the period. 90.98% of the stock is currently owned by institutional investors.

About Inari Medical

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.