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

Shares of Inari Medical, Inc. (NASDAQ:NARI) have been assigned an average recommendation of “Hold” from the eleven brokerages that are currently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $58.44.

NARI has been the topic of several research analyst reports. William Blair started coverage on shares of Inari Medical in a research report on Thursday, July 25th. They issued an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Inari Medical in a report on Friday, August 9th. They issued a “buy” rating and a $68.00 price target on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Inari Medical in a report on Monday, August 26th. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a research report on Wednesday, July 31st. Finally, Truist Financial restated a “hold” rating and set a $55.00 price target (down previously from $60.00) on shares of Inari Medical in a research report on Wednesday, July 31st.

Inari Medical Price Performance

NARI opened at $41.61 on Friday. The firm has a market capitalization of $2.42 billion, a P/E ratio of -101.49 and a beta of 1.00. Inari Medical has a one year low of $36.73 and a one year high of $69.40. The company has a fifty day moving average price of $45.78 and a 200-day moving average price of $46.09.

Inari Medical (NASDAQ:NARI) last posted its earnings results on Tuesday, July 30th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.25). The business had revenue of $145.82 million for the quarter, compared to analysts’ expectations 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, analysts expect that Inari Medical will post -0.7 earnings per share for the current year.

Insider Buying and Selling at Inari Medical

In other news, Director William Hoffman sold 60,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $56.74, for a total value of $3,404,400.00. Following the completion of the sale, the director now owns 743,296 shares of the company’s stock, valued at approximately $42,174,615.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Inari Medical news, CFO Mitch C. Hill sold 5,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 179,227 shares of the company’s stock, valued at approximately $9,669,296.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William Hoffman sold 60,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $56.74, for a total transaction of $3,404,400.00. Following the completion of the transaction, the director now owns 743,296 shares in the company, valued at approximately $42,174,615.04. The disclosure for this sale can be found here. Insiders sold a total of 132,520 shares of company stock worth $6,958,467 over the last three months. Company insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

Institutional investors have recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Inari Medical during the 1st quarter valued at about $30,000. GAMMA Investing LLC lifted its stake in Inari Medical by 164.7% in the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock worth $34,000 after acquiring an additional 438 shares during the period. Nisa Investment Advisors LLC increased its position in Inari Medical by 83.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after purchasing an additional 435 shares during the period. Covestor Ltd raised its holdings in Inari Medical by 30.2% in the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after purchasing an additional 376 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Inari Medical by 39.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after purchasing an additional 522 shares during the period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

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.