Inari Medical’s (NARI) “Hold” Rating Reaffirmed at Needham & Company LLC

Inari Medical (NASDAQ:NARI)‘s stock had its “hold” rating restated by equities research analysts at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports.

A number of other research analysts also recently commented on the stock. Truist Financial reiterated a “hold” rating and set a $55.00 price objective (down from $60.00) on shares of Inari Medical in a research note on Wednesday, July 31st. Robert W. Baird decreased their price target on Inari Medical from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on Inari Medical in a report on Friday, August 9th. They issued a “buy” rating and a $68.00 price objective for the company. Wells Fargo & Company reduced their target price on Inari Medical from $84.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Leerink Partnrs upgraded Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $58.44.

Inari Medical Price Performance

Shares of NARI stock opened at $42.40 on Wednesday. The firm has a market cap of $2.47 billion, a P/E ratio of -103.41 and a beta of 1.00. The firm’s 50-day simple moving average is $44.83 and its 200-day simple moving average is $46.03. Inari Medical has a 1-year low of $36.73 and a 1-year high of $69.40.

Inari Medical (NASDAQ:NARI) last posted its earnings results on Tuesday, July 30th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.25). The firm had revenue of $145.82 million for the quarter, compared to analyst estimates of $143.96 million. Inari Medical had a negative return on equity of 7.51% and a negative net margin of 10.42%. Analysts expect that Inari Medical will post -0.7 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Mitch C. Hill sold 5,000 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $53.95, for a total value of $269,750.00. Following the sale, the chief financial officer now owns 179,227 shares of the company’s stock, valued at $9,669,296.65. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Mitch C. Hill sold 5,000 shares of Inari Medical stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $53.95, for a total transaction of $269,750.00. Following the sale, the chief financial officer now directly owns 179,227 shares in the company, valued at $9,669,296.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $55.23, for a total transaction of $165,690.00. Following the completion of the transaction, the chief executive officer now owns 455,252 shares of the company’s stock, valued at $25,143,567.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 132,520 shares of company stock valued at $6,958,467. 10.60% of the stock is currently owned by company insiders.

Institutional Trading of Inari Medical

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Motley Fool Asset Management LLC raised its stake in Inari Medical by 46.2% during the 1st quarter. Motley Fool Asset Management LLC now owns 64,677 shares of the company’s stock valued at $3,103,000 after purchasing an additional 20,438 shares during the period. Bamco Inc. NY grew its stake in shares of Inari Medical by 27.4% in the first quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock worth $37,288,000 after acquiring an additional 167,000 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Inari Medical during the 2nd quarter worth about $2,145,000. Maryland State Retirement & Pension System acquired a new position in Inari Medical in the 1st quarter valued at approximately $886,000. Finally, Vanguard Group Inc. increased its holdings in Inari Medical by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 5,038,292 shares of the company’s stock valued at $327,086,000 after buying an additional 325,586 shares during the period. Institutional investors own 90.98% of the company’s stock.

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.