Inari Medical (NASDAQ:NARI) PT Lowered to $50.00 at Piper Sandler

Inari Medical (NASDAQ:NARI) had its price objective decreased by Piper Sandler from $55.00 to $50.00 in a research note published on Wednesday, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other equities research analysts also recently commented on NARI. Needham & Company LLC decreased their price objective on Inari Medical from $72.00 to $57.00 and set a buy rating for the company in a report on Wednesday. Truist Financial cut their price objective on Inari Medical from $61.00 to $52.00 and set a hold rating on the stock in a research report on Friday, March 22nd. Finally, Canaccord Genuity Group reissued a buy rating and set a $75.00 target price on shares of Inari Medical in a research report on Friday, April 12th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $65.71.

Inari Medical Stock Up 0.1 %

NARI stock opened at $42.03 on Wednesday. Inari Medical has a 52-week low of $36.73 and a 52-week high of $71.85. The company has a fifty day moving average price of $43.12 and a 200-day moving average price of $53.65.

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

Insider Transactions at Inari Medical

In other news, Director William Hoffman sold 1,451 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $40.00, for a total value of $58,040.00. Following the sale, the director now directly owns 999,782 shares of the company’s stock, valued at approximately $39,991,280. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director William Hoffman sold 1,451 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $40.00, for a total value of $58,040.00. Following the transaction, the director now directly owns 999,782 shares of the company’s stock, valued at approximately $39,991,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mitch C. Hill sold 6,000 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $40.96, for a total transaction of $245,760.00. Following the transaction, the chief financial officer now owns 181,294 shares in the company, valued at approximately $7,425,802.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,000 shares of company stock valued at $3,568,058. Corporate insiders own 10.60% of the company’s stock.

Hedge Funds Weigh In On Inari Medical

Hedge funds have recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Inari Medical during the 1st quarter worth approximately $30,000. Fifth Third Bancorp increased its position in Inari Medical by 54.3% during the 3rd quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock valued at $32,000 after purchasing an additional 171 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in Inari Medical by 27.4% during the fourth 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. Nisa Investment Advisors LLC raised its position in shares of Inari Medical by 139.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,189 shares of the company’s stock worth $78,000 after acquiring an additional 693 shares in the last quarter. Finally, Handelsinvest Investeringsforvaltning purchased a new stake in shares of Inari Medical during the fourth quarter valued at about $185,000. 90.98% of the stock is currently owned by institutional investors.

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.