Inari Medical (NASDAQ:NARI) Now Covered by Analysts at William Blair

William Blair initiated coverage on shares of Inari Medical (NASDAQ:NARI) in a research report released on Thursday morning, MarketBeat reports. The firm issued an outperform rating on the stock.

Several other equities analysts have also recently issued reports on NARI. Truist Financial lifted their price target on Inari Medical from $47.00 to $60.00 and gave the company a hold rating in a research report on Tuesday, July 16th. Piper Sandler lowered their target price on Inari Medical from $55.00 to $50.00 and set a neutral rating on the stock in a report on Wednesday, May 1st. Needham & Company LLC downgraded shares of Inari Medical from a buy rating to a hold rating in a report on Thursday, July 18th. Wells Fargo & Company lowered their price objective on shares of Inari Medical from $100.00 to $84.00 and set an overweight rating on the stock in a research note on Wednesday, May 1st. Finally, Canaccord Genuity Group cut their target price on shares of Inari Medical from $75.00 to $55.00 and set a buy rating for the company in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $64.83.

Inari Medical Trading Down 0.3 %

Shares of NARI opened at $55.20 on Thursday. The firm has a 50-day moving average price of $49.60 and a 200 day moving average price of $49.06. Inari Medical has a 52-week low of $36.73 and a 52-week high of $71.85.

Inari Medical (NASDAQ:NARI) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.15). Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. The company had revenue of $143.19 million during the quarter, compared to the consensus estimate of $138.32 million. As a group, sell-side analysts predict that Inari Medical will post -0.41 EPS for the current year.

Insider Buying and Selling

In other Inari Medical news, 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 transaction of $1,619,058.00. Following the completion of the sale, the director now directly owns 965,359 shares of the company’s stock, valued at $40,545,078. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Inari Medical news, Director William Hoffman sold 38,549 shares of Inari Medical stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $42.00, for a total transaction of $1,619,058.00. Following the transaction, the director now directly owns 965,359 shares in the company, valued at approximately $40,545,078. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas Tu sold 16,520 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $55.09, for a total transaction of $910,086.80. Following the sale, the insider now directly owns 313,257 shares in the company, valued at $17,257,328.13. The disclosure for this sale can be found here. In the last quarter, insiders have sold 261,293 shares of company stock valued at $13,113,558. 10.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Inari Medical

Hedge funds have recently bought and sold shares of the business. D.A. Davidson & CO. increased its holdings in shares of Inari Medical by 1.8% in the 4th quarter. D.A. Davidson & CO. now owns 10,570 shares of the company’s stock valued at $686,000 after purchasing an additional 188 shares during the period. New York State Teachers Retirement System grew its position in Inari Medical by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 53,924 shares of the company’s stock valued at $3,501,000 after purchasing an additional 233 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Inari Medical by 27.4% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock valued at $71,000 after buying an additional 236 shares during the period. Bessemer Group Inc. lifted its position in Inari Medical by 16.4% in the 1st quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock worth $117,000 after buying an additional 344 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Inari Medical by 7.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock valued at $234,000 after buying an additional 348 shares during the period. 90.98% of the stock is owned by hedge funds and other institutional investors.

About Inari Medical

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.