Inari Medical (NASDAQ:NARI) Earns Hold Rating from Analysts at Stifel Nicolaus

Stifel Nicolaus began coverage on shares of Inari Medical (NASDAQ:NARI) in a research report sent to investors on Tuesday, Marketbeat Ratings reports. The firm issued a hold rating and a $50.00 price target on the stock.

Several other analysts have also recently commented on NARI. William Blair initiated coverage on shares of Inari Medical in a research report on Thursday, July 25th. They set an outperform rating for the company. Piper Sandler reiterated a neutral rating and issued a $50.00 price objective on shares of Inari Medical in a report on Monday, August 26th. Robert W. Baird reduced their target price on Inari Medical from $65.00 to $63.00 and set an outperform rating on the stock in a report on Wednesday, July 31st. Needham & Company LLC reaffirmed a hold rating on shares of Inari Medical in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company cut their price target on shares of Inari Medical from $84.00 to $65.00 and set an overweight rating on the stock in a research report 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. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $58.44.

Inari Medical Stock Down 1.2 %

Shares of NARI stock opened at $43.84 on Tuesday. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -106.93 and a beta of 1.00. Inari Medical has a 12 month low of $36.73 and a 12 month high of $69.40. The stock has a 50-day moving average price of $48.25 and a 200 day moving average price of $46.07.

Inari Medical (NASDAQ:NARI) last issued its earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Sell-side analysts predict that Inari Medical will post -0.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $45.83, for a total value of $1,833,200.00. Following the completion of the transaction, the director now owns 643,296 shares in the company, valued at $29,482,255.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director William Hoffman sold 40,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.83, for a total value of $1,833,200.00. Following the sale, the director now directly owns 643,296 shares of the company’s stock, valued at approximately $29,482,255.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mitch C. Hill sold 3,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $45.13, for a total transaction of $135,390.00. Following the completion of the transaction, the chief financial officer now directly owns 179,600 shares of the company’s stock, valued at $8,105,348. The disclosure for this sale can be found here. In the last three months, insiders sold 155,520 shares of company stock valued at $8,111,707. 10.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Inari Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of NARI. Vanguard Group Inc. grew its stake in shares of Inari Medical by 11.1% during the 1st quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock worth $268,681,000 after acquiring an additional 561,562 shares in the last quarter. Point72 Asset Management L.P. grew its position in Inari Medical by 113.3% in the second quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock valued at $71,324,000 after purchasing an additional 786,691 shares in the last quarter. Armistice Capital LLC increased its stake in Inari Medical by 353.1% in the 2nd quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock valued at $48,595,000 after buying an additional 786,501 shares during the last quarter. American Century Companies Inc. increased its stake in Inari Medical by 26.8% in the 2nd quarter. American Century Companies Inc. now owns 980,917 shares of the company’s stock valued at $47,231,000 after buying an additional 207,485 shares during the last quarter. Finally, Bamco Inc. NY lifted its position in Inari Medical by 27.4% during the 1st quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock worth $37,288,000 after buying an additional 167,000 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

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.