Inari Medical (NASDAQ:NARI) Given New $50.00 Price Target at Truist Financial

Inari Medical (NASDAQ:NARI) had its target price boosted by Truist Financial from $46.00 to $50.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other research firms have also recently commented on NARI. Leerink Partnrs raised Inari Medical to a “hold” rating in a research note on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft began coverage on shares of Inari Medical in a report on Friday, August 9th. They set a “buy” rating and a $68.00 price objective on the stock. Canaccord Genuity Group raised their price target on shares of Inari Medical from $71.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday. Robert W. Baird boosted their price target on Inari Medical from $66.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Stifel Nicolaus started coverage on Inari Medical in a report on Tuesday, September 17th. They set a “hold” rating and a $50.00 price target for the company. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $58.89.

Inari Medical Price Performance

NASDAQ:NARI opened at $48.74 on Tuesday. Inari Medical has a one year low of $36.73 and a one year high of $67.13. The company has a fifty day moving average price of $43.56 and a 200 day moving average price of $45.99. The stock has a market cap of $2.85 billion, a P/E ratio of -36.10 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings data 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 analyst estimates of $143.96 million. Inari Medical had a negative net margin of 13.68% and a negative return on equity of 10.09%. As a group, equities research analysts anticipate that Inari Medical will post -0.74 EPS for the current year.

Insider Activity

In other news, CEO Andrew Hykes sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total transaction of $150,000.00. Following the completion of the sale, the chief executive officer now owns 445,310 shares in the company, valued at $22,265,500. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total value of $150,000.00. Following the completion of the transaction, the chief executive officer now owns 445,310 shares in the company, valued at $22,265,500. 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 through the SEC website. Also, CFO Mitch C. Hill sold 5,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $47.99, for a total value of $239,950.00. Following the sale, the chief financial officer now owns 179,600 shares in the company, valued at approximately $8,619,004. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 131,000 shares of company stock worth $6,161,340. Company insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Motley Fool Asset Management LLC lifted its stake in shares of Inari Medical by 46.2% in the 1st 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 period. Bamco Inc. NY grew its position in Inari Medical by 27.4% during the first quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock valued at $37,288,000 after buying an additional 167,000 shares during the period. Lighthouse Investment Partners LLC purchased a new position in Inari Medical during the second quarter valued at approximately $2,145,000. Integral Health Asset Management LLC raised its holdings in Inari Medical by 100.0% during the second quarter. Integral Health Asset Management LLC now owns 400,000 shares of the company’s stock valued at $19,260,000 after acquiring an additional 200,000 shares during the period. Finally, Maryland State Retirement & Pension System bought a new position in Inari Medical in the 1st quarter worth approximately $886,000. Institutional investors 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.