Inari Medical, Inc. (NASDAQ:NARI) Given Average Recommendation of “Hold” by Brokerages

Inari Medical, Inc. (NASDAQ:NARI) has been given a consensus recommendation of “Hold” by the eleven brokerages that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $58.44.

A number of equities research analysts recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Canaccord Genuity Group upped their price target on Inari Medical from $55.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. William Blair started coverage on Inari Medical in a research note on Thursday, July 25th. They set an “outperform” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a research note on Wednesday, July 31st. Finally, Leerink Partners started coverage on shares of Inari Medical in a research report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price target for the company.

Insider Transactions at Inari Medical

In other news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction on Monday, July 1st. The shares were sold at an average price of $50.08, for a total transaction of $150,240.00. Following the transaction, the chief executive officer now owns 462,474 shares in the company, valued at approximately $23,160,697.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $50.08, for a total value of $150,240.00. Following the transaction, the chief executive officer now owns 462,474 shares of the company’s stock, valued at $23,160,697.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mitch C. Hill sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $53.95, for a total value of $269,750.00. Following the transaction, the chief financial officer now owns 179,227 shares of the company’s stock, valued at $9,669,296.65. The disclosure for this sale can be found here. Insiders have sold 155,520 shares of company stock worth $8,111,707 in the last quarter. Company insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Inari Medical by 11.1% in the first quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock valued at $268,681,000 after purchasing an additional 561,562 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Inari Medical by 113.3% in the second quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock valued at $71,324,000 after purchasing an additional 786,691 shares during the last quarter. Armistice Capital LLC raised its stake in shares of Inari Medical by 353.1% during the 2nd quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock worth $48,595,000 after acquiring an additional 786,501 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Inari Medical by 26.8% during the 2nd quarter. American Century Companies Inc. now owns 980,917 shares of the company’s stock valued at $47,231,000 after purchasing an additional 207,485 shares during the last quarter. Finally, Bamco Inc. NY raised its stake in Inari Medical by 27.4% in the first quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock valued at $37,288,000 after buying an additional 167,000 shares during the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Inari Medical Price Performance

Shares of NASDAQ:NARI opened at $41.20 on Friday. Inari Medical has a one year low of $36.73 and a one year high of $69.40. The firm has a fifty day moving average price of $46.60 and a two-hundred day moving average price of $46.08. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -100.49 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last released 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 during the quarter, compared to the consensus estimate of $143.96 million. Inari Medical had a negative net margin of 10.42% and a negative return on equity of 7.51%. Equities research analysts expect that Inari Medical will post -0.7 EPS for the current fiscal year.

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.