Inari Medical (NASDAQ:NARI) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Inari Medical (NASDAQ:NARI) had its price objective upped by equities research analysts at Robert W. Baird from $66.00 to $67.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 42.25% from the stock’s previous close.

NARI has been the topic of a number of other reports. Canaccord Genuity Group lifted their price objective on Inari Medical from $55.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. William Blair started coverage on shares of Inari Medical in a research report on Thursday, July 25th. They set an “outperform” rating on the stock. Truist Financial decreased their price objective on shares of Inari Medical from $55.00 to $46.00 and set a “hold” rating for the company in a report on Monday, October 14th. Leerink Partners assumed coverage on shares of Inari Medical in a research note on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 target price on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research note on Wednesday, October 9th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $58.89.

Inari Medical Stock Performance

Shares of Inari Medical stock opened at $47.10 on Tuesday. Inari Medical has a 52-week low of $36.73 and a 52-week high of $67.13. The company’s 50 day moving average price is $43.51 and its 200-day moving average price is $45.96. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of -37.25 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last posted its earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.25). The business had revenue of $145.82 million during the quarter, compared to the consensus estimate of $143.96 million. Inari Medical had a negative return on equity of 7.51% and a negative net margin of 10.42%. As a group, equities research analysts forecast that Inari Medical will post -0.75 earnings per share for the current fiscal year.

Insider Transactions at Inari Medical

In related news, CFO Mitch C. Hill sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $45.13, for a total transaction of $135,390.00. Following the completion of the transaction, the chief financial officer now owns 179,600 shares of the company’s stock, valued at $8,105,348. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Mitch C. Hill sold 3,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $45.13, for a total value of $135,390.00. Following the transaction, the chief financial officer now owns 179,600 shares in the company, valued at $8,105,348. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William Hoffman sold 40,000 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the sale, the director now directly owns 601,233 shares in the company, valued at $27,067,509.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 88,000 shares of company stock valued at $4,009,340 in the last ninety days. 10.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Inari Medical

Hedge funds have recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Inari Medical in the first quarter worth $30,000. GAMMA Investing LLC lifted its stake in Inari Medical by 164.7% during the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after acquiring an additional 438 shares during the period. Nisa Investment Advisors LLC lifted its stake in Inari Medical by 83.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after acquiring an additional 435 shares during the period. Covestor Ltd boosted its holdings in shares of Inari Medical by 30.2% during the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after acquiring an additional 376 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of Inari Medical by 39.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after acquiring an additional 522 shares during the period. 90.98% of the stock is currently owned by hedge funds and other 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.