Inari Medical (NASDAQ:NARI) PT Raised to $67.00 at Robert W. Baird

Inari Medical (NASDAQ:NARI) had its price target boosted by analysts at Robert W. Baird from $66.00 to $67.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 57.42% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Leerink Partners initiated coverage on shares of Inari Medical in a research report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price objective for the company. William Blair initiated coverage on shares of Inari Medical in a report on Thursday, July 25th. They set an “outperform” rating for the company. Truist Financial reduced their price objective on Inari Medical from $55.00 to $46.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Piper Sandler reiterated a “neutral” rating and issued a $50.00 target price on shares of Inari Medical in a research report on Monday, August 26th. Finally, Wells Fargo & Company cut 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. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Inari Medical has an average rating of “Hold” and a consensus price target of $58.11.

Inari Medical Stock Performance

Shares of NARI stock opened at $42.56 on Tuesday. Inari Medical has a fifty-two week low of $36.73 and a fifty-two week high of $67.13. The company has a market cap of $2.48 billion, a PE ratio of -42.99 and a beta of 1.00. The stock’s fifty day moving average price is $43.51 and its two-hundred day moving average price is $45.90.

Inari Medical (NASDAQ:NARI) last released its earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.25). The business had revenue of $145.82 million during the quarter, compared to the consensus estimate of $143.96 million. Inari Medical had a negative net margin of 10.42% and a negative return on equity of 7.51%. On average, equities analysts predict that Inari Medical will post -0.75 EPS for the current fiscal year.

Insider Transactions at Inari Medical

In other news, CFO Mitch C. Hill sold 5,000 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 179,600 shares in the company, valued at $8,619,004. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Mitch C. Hill sold 5,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $47.99, for a total transaction of $239,950.00. Following the sale, the chief financial officer now owns 179,600 shares in the company, valued at $8,619,004. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.83, for a total value of $1,833,200.00. Following the completion of the sale, the director now owns 643,296 shares of the company’s stock, valued at approximately $29,482,255.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,000 shares of company stock worth $4,009,340. Company insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Values First Advisors Inc. acquired a new stake in shares of Inari Medical in the 3rd quarter valued at about $128,000. Everence Capital Management Inc. bought a new position in Inari Medical in the third quarter worth approximately $315,000. GAMMA Investing LLC grew 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 period. Handelsbanken Fonder AB increased its holdings in shares of Inari Medical by 22.1% during the third quarter. Handelsbanken Fonder AB now owns 16,000 shares of the company’s stock valued at $660,000 after acquiring an additional 2,900 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Inari Medical during the third quarter valued at approximately $625,000. 90.98% of the stock is 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.