Needham & Company LLC Lowers Inari Medical (NASDAQ:NARI) Price Target to $57.00

Inari Medical (NASDAQ:NARI) had its price target cut by Needham & Company LLC from $72.00 to $57.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently weighed in on NARI. Canaccord Genuity Group reiterated a buy rating and issued a $75.00 price target on shares of Inari Medical in a report on Friday, April 12th. Piper Sandler lowered shares of Inari Medical from an overweight rating to a neutral rating and cut their price objective for the stock from $85.00 to $55.00 in a research note on Thursday, February 29th. Finally, Truist Financial decreased their target price on shares of Inari Medical from $61.00 to $52.00 and set a hold rating for the company in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $65.71.

Inari Medical Trading Up 0.1 %

NASDAQ:NARI opened at $42.03 on Wednesday. The company has a market capitalization of $2.44 billion, a P/E ratio of -102.51 and a beta of 0.93. Inari Medical has a 12 month low of $36.73 and a 12 month high of $71.85. The firm has a fifty day simple moving average of $43.12 and a 200-day simple moving average of $53.65.

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

Insider Activity at Inari Medical

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

Institutional Trading of Inari Medical

Several institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp increased its position in Inari Medical by 54.3% during the third quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock worth $32,000 after purchasing an additional 171 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of Inari Medical by 1.8% during the 4th quarter. D.A. Davidson & CO. now owns 10,570 shares of the company’s stock valued at $686,000 after buying an additional 188 shares during the period. New York State Teachers Retirement System raised its position in shares of Inari Medical by 0.4% during the 4th quarter. New York State Teachers Retirement System now owns 53,924 shares of the company’s stock valued at $3,501,000 after buying an additional 233 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in Inari Medical by 27.4% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock valued at $71,000 after acquiring an additional 236 shares during the last quarter. Finally, Retirement Systems of Alabama grew its position in Inari Medical by 0.6% in the fourth quarter. Retirement Systems of Alabama now owns 64,100 shares of the company’s stock worth $4,161,000 after acquiring an additional 366 shares during the period. 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.