Needham & Company LLC Reiterates Hold Rating for Inari Medical (NASDAQ:NARI)

Needham & Company LLC reaffirmed their hold rating on shares of Inari Medical (NASDAQ:NARI - Free Report) in a report issued on Tuesday morning, Benzinga reports.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company decreased their price target on Inari Medical from $84.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 31st. William Blair began coverage on Inari Medical in a research note on Thursday, July 25th. They issued an "outperform" rating on the stock. Leerink Partners started coverage on Inari Medical in a research note on Tuesday, September 3rd. They issued a "market perform" rating and a $47.00 price objective on the stock. Truist Financial decreased their target price on Inari Medical from $55.00 to $46.00 and set a "hold" rating for the company in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Inari Medical in a report on Friday, August 9th. They set a "buy" rating and a $68.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Inari Medical presently has a consensus rating of "Hold" and an average target price of $58.89.

Inari Medical Stock Up 15.2 %

Shares of NASDAQ:NARI traded up $6.49 during mid-day trading on Tuesday, reaching $49.05. 3,590,264 shares of the stock were exchanged, compared to its average volume of 1,003,951. The company has a market cap of $2.86 billion, a P/E ratio of -49.68 and a beta of 1.00. Inari Medical has a one year low of $36.73 and a one year high of $67.13. The stock's 50 day simple moving average is $43.51 and its 200-day simple moving average is $45.90.

Inari Medical (NASDAQ:NARI - Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share 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 for the quarter, compared to analyst estimates of $143.96 million. Analysts anticipate that Inari Medical will post -0.75 EPS for the current fiscal year.

Insider Transactions at Inari Medical

In related news, Director William Hoffman sold 40,000 shares of the company's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.83, for a total value of $1,833,200.00. Following the completion of the transaction, the director now owns 643,296 shares of the company's stock, valued at approximately $29,482,255.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through 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 value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William Hoffman sold 40,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.83, for a total transaction of $1,833,200.00. Following the completion of the sale, the director now directly owns 643,296 shares in the company, valued at $29,482,255.68. This trade 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 worth $4,009,340 in the last three months. Corporate insiders own 10.60% of the company's stock.

Hedge Funds Weigh In On Inari Medical

A number of hedge funds and other institutional investors have recently modified their holdings of NARI. State of Alaska Department of Revenue lifted its stake in shares of Inari Medical by 462.4% during the first quarter. State of Alaska Department of Revenue now owns 31,095 shares of the company's stock worth $1,491,000 after buying an additional 25,566 shares during the period. Maryland State Retirement & Pension System acquired a new stake in shares of Inari Medical in the first quarter valued at about $886,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Inari Medical during the first quarter worth about $30,000. Texas Permanent School Fund Corp boosted its position in Inari Medical by 1.5% during the first quarter. Texas Permanent School Fund Corp now owns 44,858 shares of the company's stock worth $2,152,000 after acquiring an additional 664 shares during the last quarter. Finally, Swiss National Bank boosted its position in Inari Medical by 0.6% during the first quarter. Swiss National Bank now owns 102,300 shares of the company's stock worth $4,908,000 after acquiring an additional 600 shares during the last quarter. 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.