Inari Medical (NASDAQ:NARI) Given New $46.00 Price Target at Truist Financial

Inari Medical (NASDAQ:NARI) had its price target trimmed by Truist Financial from $55.00 to $46.00 in a report released on Monday, Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other research firms have also commented on NARI. Robert W. Baird decreased their price target on shares of Inari Medical from $65.00 to $63.00 and set an outperform rating for the company in a research report on Wednesday, July 31st. Leerink Partnrs raised shares of Inari Medical to a hold rating in a research report on Tuesday, September 3rd. Leerink Partners started coverage on shares of Inari Medical in a research report on Tuesday, September 3rd. They issued a market perform rating and a $47.00 price objective for the company. Stifel Nicolaus started coverage on shares of Inari Medical in a research report on Tuesday, September 17th. They issued a hold rating and a $50.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Inari Medical in a research report on Wednesday, October 9th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $57.44.

Inari Medical Stock Performance

NARI stock opened at $42.20 on Monday. 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 firm has a 50-day simple moving average of $44.40 and a two-hundred day simple moving average of $45.90. Inari Medical has a one year low of $36.73 and a one year high of $67.13.

Inari Medical (NASDAQ:NARI) last released its quarterly 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 firm had revenue of $145.82 million for the quarter, compared to analysts’ expectations of $143.96 million. Inari Medical had a negative net margin of 10.42% and a negative return on equity of 7.51%. As a group, equities analysts predict that Inari Medical will post -0.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 455,252 shares in the company, valued at approximately $25,143,567.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $55.23, for a total transaction of $165,690.00. Following the sale, the chief executive officer now owns 455,252 shares of the company’s stock, valued at $25,143,567.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mitch C. Hill sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 179,600 shares in the company, valued at $8,619,004. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,000 shares of company stock worth $2,374,230. 10.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Inari Medical

Hedge funds and other institutional investors have recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Inari Medical during the 1st quarter worth approximately $30,000. GAMMA Investing LLC lifted its position in shares of Inari Medical by 164.7% during the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after buying an additional 438 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of 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 buying an additional 435 shares in the last quarter. Covestor Ltd lifted its position in shares of Inari Medical by 30.2% during the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after buying 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% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after buying an additional 522 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

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.