Inari Medical, Inc. (NASDAQ:NARI) Receives Consensus Recommendation of “Buy” from Brokerages

Inari Medical, Inc. (NASDAQ:NARI – Get Rating) has earned a consensus rating of “Buy” from the eight analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $106.00.

Several brokerages have recently issued reports on NARI. Canaccord Genuity Group reduced their price target on shares of Inari Medical from $102.00 to $96.00 in a report on Monday, March 14th. Bank of America initiated coverage on shares of Inari Medical in a report on Wednesday, March 23rd. They issued a “buy” rating for the company. Morgan Stanley reduced their price objective on shares of Inari Medical from $119.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, February 24th. Canaccord Genuity Group reduced their price objective on shares of Inari Medical from $102.00 to $96.00 and set a “buy” rating for the company in a report on Monday, March 14th. Finally, Zacks Investment Research downgraded shares of Inari Medical from a “hold” rating to a “strong sell” rating and set a $76.00 price objective for the company. in a report on Tuesday, January 11th.

Shares of NARI opened at $87.81 on Tuesday. Inari Medical has a 1 year low of $63.37 and a 1 year high of $116.20. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 548.85 and a beta of 1.76. The firm has a fifty day moving average of $86.98 and a 200-day moving average of $84.61.

Inari Medical (NASDAQ:NARI – Get Rating) last announced its quarterly earnings results on Wednesday, February 23rd. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. Inari Medical had a net margin of 3.55% and a return on equity of 4.33%. The company had revenue of $83.20 million during the quarter, compared to the consensus estimate of $79.77 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. The company’s revenue for the quarter was up 71.2% compared to the same quarter last year. On average, equities analysts expect that Inari Medical will post -0.27 EPS for the current fiscal year.

In other Inari Medical news, insider Thomas Tu sold 2,000 shares of the business’s stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $90.00, for a total transaction of $180,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Andrew Hykes sold 6,304 shares of the business’s stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $90.05, for a total value of $567,675.20. The disclosure for this sale can be found here. Insiders sold a total of 165,641 shares of company stock valued at $14,452,248 over the last three months. 23.20% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of NARI. Lindbrook Capital LLC acquired a new stake in Inari Medical during the 4th quarter worth about $41,000. C M Bidwell & Associates Ltd. acquired a new stake in Inari Medical during the 4th quarter worth about $49,000. Carroll Financial Associates Inc. acquired a new stake in Inari Medical during the 4th quarter worth about $102,000. US Bancorp DE raised its holdings in Inari Medical by 10.7% during the 3rd quarter. US Bancorp DE now owns 1,876 shares of the company’s stock worth $152,000 after buying an additional 182 shares during the period. Finally, Advisor Group Holdings Inc. raised its holdings in Inari Medical by 43.2% during the 4th quarter. Advisor Group Holdings Inc. now owns 1,683 shares of the company’s stock worth $153,000 after buying an additional 508 shares during the period. Hedge funds and other institutional investors own 73.80% of the company’s stock.

Inari Medical Company Profile (Get Rating)

Inari Medical, Inc, a medical device company, develops, manufactures, markets, and sells devices for the interventional treatment of venous diseases in the United States. The company provides ClotTriever, a mechanical thrombectomy system, which is designed to core, capture, and remove large clots from large vessels, as well as for treatment of deep vein thrombosis; and FlowTriever, a large bore catheter-based aspiration and mechanical thrombectomy system, for treatment of pulmonary embolism.

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