Inari Medical, Inc. (NASDAQ:NARI) Receives $65.71 Consensus Price Target from Analysts

Inari Medical, Inc. (NASDAQ:NARI) has earned an average rating of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $65.71.

NARI has been the subject of a number of research analyst reports. Canaccord Genuity Group decreased their price objective on shares of Inari Medical from $75.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday. Wells Fargo & Company decreased their price target on shares of Inari Medical from $100.00 to $84.00 and set an “overweight” rating for the company in a research note on Wednesday. Truist Financial dropped their price objective on Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Piper Sandler decreased their target price on Inari Medical from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Needham & Company LLC dropped their price target on Inari Medical from $72.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday.

Insider Transactions at Inari Medical

In other Inari Medical news, Director William Hoffman sold 38,549 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $42.00, for a total value of $1,619,058.00. Following the completion of the transaction, the director now directly owns 965,359 shares in the company, valued at $40,545,078. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Mitch C. Hill sold 6,000 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $40.96, for a total value of $245,760.00. Following the completion of the sale, the chief financial officer now owns 181,294 shares of the company’s stock, valued at approximately $7,425,802.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Hoffman sold 38,549 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $42.00, for a total value of $1,619,058.00. Following the transaction, the director now directly owns 965,359 shares in the company, valued at $40,545,078. The disclosure for this sale can be found here. In the last three months, insiders sold 86,000 shares of company stock valued at $3,568,058. Corporate insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

Several large investors have recently bought and sold shares of NARI. Vanguard Group Inc. lifted its position in Inari Medical by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 5,038,292 shares of the company’s stock worth $327,086,000 after acquiring an additional 325,586 shares during the period. Brown Advisory Inc. lifted its holdings in shares of Inari Medical by 17.6% during the fourth quarter. Brown Advisory Inc. now owns 1,702,113 shares of the company’s stock worth $110,501,000 after purchasing an additional 255,182 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Inari Medical by 5.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 753,968 shares of the company’s stock worth $49,310,000 after purchasing an additional 40,069 shares during the period. Dimensional Fund Advisors LP boosted its position in Inari Medical by 7.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 596,007 shares of the company’s stock valued at $38,693,000 after buying an additional 41,555 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Inari Medical by 23.4% in the 4th quarter. Principal Financial Group Inc. now owns 567,266 shares of the company’s stock worth $36,827,000 after buying an additional 107,622 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Inari Medical Price Performance

Shares of NASDAQ:NARI opened at $42.03 on Thursday. The firm has a market capitalization of $2.44 billion, a PE ratio of -102.51 and a beta of 0.93. The business has a 50 day simple moving average of $43.12 and a two-hundred day simple moving average of $53.65. Inari Medical has a 1 year low of $36.73 and a 1 year high of $71.85.

Inari Medical (NASDAQ:NARI) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. The business had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $131.82 million. During the same quarter in the previous year, the firm earned ($0.11) EPS. Inari Medical’s revenue was up 22.5% compared to the same quarter last year. Equities research analysts expect that Inari Medical will post -0.41 EPS for the current fiscal year.

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.