Inari Medical (NASDAQ:NARI) Now Covered by William Blair

William Blair began coverage on shares of Inari Medical (NASDAQ:NARI) in a research report released on Thursday, MarketBeat reports. The brokerage issued an outperform rating on the stock.

A number of other equities research analysts also recently issued reports on NARI. Piper Sandler reduced their price target on shares of Inari Medical from $55.00 to $50.00 and set a neutral rating for the company in a research report on Wednesday, May 1st. Truist Financial lifted their price objective on Inari Medical from $47.00 to $60.00 and gave the stock a hold rating in a report on Tuesday, July 16th. Needham & Company LLC lowered Inari Medical from a buy rating to a hold rating in a report on Thursday, July 18th. Canaccord Genuity Group decreased their price objective on shares of Inari Medical from $75.00 to $55.00 and set a buy rating on the stock in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company lowered their price objective on shares of Inari Medical from $100.00 to $84.00 and set an overweight rating on the stock in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Inari Medical currently has an average rating of Moderate Buy and an average price target of $64.83.

Inari Medical Stock Performance

Inari Medical stock opened at $53.83 on Thursday. The company has a market cap of $3.13 billion, a P/E ratio of -131.29 and a beta of 1.01. Inari Medical has a one year low of $36.73 and a one year high of $71.85. The business has a fifty day moving average of $49.94 and a two-hundred day moving average of $48.86.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.15). The company had revenue of $143.19 million during the quarter, compared to analysts’ expectations of $138.32 million. Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. Sell-side analysts predict that Inari Medical will post -0.41 EPS for the current year.

Insider Transactions at Inari Medical

In other news, CEO Andrew Hykes sold 3,000 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $55.23, for a total value of $165,690.00. Following the completion of the transaction, the chief executive officer now directly owns 455,252 shares of the company’s stock, valued at $25,143,567.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director William Hoffman sold 60,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $50.13, for a total value of $3,007,800.00. Following the completion of the transaction, the director now directly owns 865,359 shares in the company, valued at $43,380,446.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $55.23, for a total value of $165,690.00. Following the completion of the transaction, the chief executive officer now owns 455,252 shares of the company’s stock, valued at $25,143,567.96. The disclosure for this sale can be found here. Insiders sold a total of 261,293 shares of company stock valued at $13,113,558 over the last three months. 10.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Inari Medical

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in Inari Medical by 7.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 596,007 shares of the company’s stock valued at $38,693,000 after purchasing an additional 41,555 shares during the last quarter. Norges Bank acquired a new position in Inari Medical in the fourth quarter valued at $29,491,000. New York State Common Retirement Fund increased its stake in Inari Medical by 10.7% in the fourth quarter. New York State Common Retirement Fund now owns 311,410 shares of the company’s stock valued at $20,217,000 after purchasing an additional 29,983 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its stake in Inari Medical by 99.7% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 45,621 shares of the company’s stock valued at $2,962,000 after purchasing an additional 22,780 shares during the last quarter. Finally, Motley Fool Asset Management LLC increased its stake in Inari Medical by 46.2% in the first quarter. Motley Fool Asset Management LLC now owns 64,677 shares of the company’s stock valued at $3,103,000 after purchasing an additional 20,438 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.