Truist Financial Forecasts Strong Price Appreciation for Inari Medical (NASDAQ:NARI) Stock

Inari Medical (NASDAQ:NARI) had its price objective boosted by research analysts at Truist Financial from $46.00 to $50.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price objective suggests a potential upside of 6.16% from the stock’s previous close.

Several other brokerages also recently commented on NARI. Canaccord Genuity Group raised their price objective on shares of Inari Medical from $71.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday. Leerink Partnrs raised shares of Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research report on Tuesday. Leerink Partners started coverage on shares of Inari Medical in a report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price objective on the stock. Finally, William Blair started coverage on shares of Inari Medical in a report on Thursday, July 25th. They set an “outperform” rating on the stock. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Inari Medical has an average rating of “Hold” and a consensus price target of $58.89.

Inari Medical Stock Performance

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 firm has a 50 day moving average price of $43.51 and a two-hundred day moving average price of $45.96. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -37.25 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings data on Tuesday, July 30th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.25). The company 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%. As a group, equities research analysts predict that Inari Medical will post -0.75 EPS for the current fiscal year.

Insider Activity at Inari Medical

In related news, CFO Mitch C. Hill sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $45.13, for a total value of $135,390.00. Following the sale, the chief financial officer now directly owns 179,600 shares in the company, valued at approximately $8,105,348. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 sale, the chief financial officer now owns 179,600 shares in the company, valued at approximately $8,105,348. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,000 shares of company stock worth $4,009,340. Company insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bessemer Group Inc. grew its holdings in shares of Inari Medical by 16.4% during the first quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock worth $117,000 after purchasing an additional 344 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Inari Medical by 7.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock worth $234,000 after buying an additional 348 shares in the last quarter. Arizona State Retirement System boosted its stake in Inari Medical by 2.5% in the second quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock worth $703,000 after buying an additional 358 shares in the last quarter. Covestor Ltd boosted its stake in Inari Medical by 30.2% in the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after buying an additional 376 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Inari Medical by 83.5% in the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after buying an additional 435 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

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.