Inari Medical (NASDAQ:NARI) Research Coverage Started at Piper Sandler

Research analysts at Piper Sandler assumed coverage on shares of Inari Medical (NASDAQ:NARI – Get Rating) in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage set an “overweight” rating on the stock.

Other research analysts have also recently issued research reports about the stock. Canaccord Genuity Group dropped 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. SVB Leerink increased their price objective on shares of Inari Medical from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, February 24th. Bank of America assumed coverage on shares of Inari Medical in a report on Wednesday, March 23rd. They set a “buy” rating for the company. Morgan Stanley decreased their price target 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. Finally, Canaccord Genuity Group lowered their price objective on shares of Inari Medical from $102.00 to $96.00 in a research note on Monday, March 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $106.80.

NARI stock opened at $60.91 on Tuesday. Inari Medical has a fifty-two week low of $50.50 and a fifty-two week high of $100.00. The company has a market cap of $3.24 billion, a price-to-earnings ratio of -2,030.33 and a beta of 1.73. The business’s 50-day moving average is $70.04 and its two-hundred day moving average is $78.45.

Inari Medical (NASDAQ:NARI – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $86.75 million during the quarter, compared to the consensus estimate of $83.61 million. Inari Medical had a negative net margin of 0.25% and a negative return on equity of 0.27%. Inari Medical’s revenue for the quarter was up 51.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 earnings per share. On average, sell-side analysts anticipate that Inari Medical will post -0.83 EPS for the current year.

In other news, CEO William Hoffman sold 30,000 shares of the company’s stock in a transaction dated Tuesday, April 5th. The stock was sold at an average price of $90.25, for a total value of $2,707,500.00. Following the completion of the transaction, the chief executive officer now directly owns 550,307 shares in the company, valued at approximately $49,665,206.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Tu sold 2,000 shares of Inari Medical stock in a transaction on Monday, March 28th. The stock was sold at an average price of $90.00, for a total transaction of $180,000.00. The disclosure for this sale can be found here. Insiders have sold 126,500 shares of company stock valued at $9,611,980 over the last 90 days. 11.90% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Trustcore Financial Services LLC boosted its stake in Inari Medical by 266.7% in the first quarter. Trustcore Financial Services LLC now owns 275 shares of the company’s stock valued at $25,000 after acquiring an additional 200 shares in the last quarter. Parkside Financial Bank & Trust acquired a new stake in shares of Inari Medical during the 1st quarter worth approximately $25,000. Lindbrook Capital LLC acquired a new position in shares of Inari Medical in the 4th quarter worth approximately $41,000. C M Bidwell & Associates Ltd. purchased a new stake in Inari Medical during the 4th quarter worth approximately $49,000. Finally, DB Wealth Management Group LLC purchased a new stake in shares of Inari Medical during the first quarter worth approximately $54,000. Institutional investors and hedge funds own 67.90% of the company’s stock.

About Inari Medical (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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