Needham & Company LLC Reiterates “Hold” Rating for Inari Medical (NASDAQ:NARI)

Inari Medical (NASDAQ:NARI)‘s stock had its “hold” rating reaffirmed by equities researchers at Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports.

A number of other brokerages also recently commented on NARI. Truist Financial reduced their price objective on shares of Inari Medical from $55.00 to $46.00 and set a “hold” rating for the company in a research report on Monday, October 14th. William Blair assumed coverage on Inari Medical in a report on Thursday, July 25th. They issued an “outperform” rating for the company. Leerink Partnrs raised Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. Leerink Partners started coverage on Inari Medical in a report on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 target price for the company. Finally, Canaccord Genuity Group upped their price target on shares of Inari Medical from $55.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $58.89.

Inari Medical Price Performance

Shares of NASDAQ:NARI opened at $47.10 on Tuesday. Inari Medical has a 12 month low of $36.73 and a 12 month high of $67.13. The firm has a market capitalization of $2.74 billion, a P/E ratio of -37.25 and a beta of 1.00. The company’s fifty day moving average price is $43.51 and its 200 day moving average price is $45.96.

Inari Medical (NASDAQ:NARI) last issued its quarterly earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.25). The business 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%. On average, sell-side analysts anticipate that Inari Medical will post -0.75 EPS for the current year.

Insider Transactions at Inari Medical

In related news, CFO Mitch C. Hill sold 5,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $47.99, for a total transaction of $239,950.00. Following the transaction, the chief financial officer now directly owns 179,600 shares of the company’s stock, valued at approximately $8,619,004. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Inari Medical news, CFO Mitch C. Hill sold 3,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $45.13, for a total transaction of $135,390.00. Following the transaction, the chief financial officer now directly owns 179,600 shares of the company’s stock, valued at $8,105,348. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mitch C. Hill sold 5,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $47.99, for a total value of $239,950.00. Following the transaction, the chief financial officer now owns 179,600 shares in the company, valued at approximately $8,619,004. This trade represents a 0.00 % decrease in their position. 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 over the last ninety days. Corporate insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

Several hedge funds and other institutional investors have recently bought and sold shares of NARI. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Inari Medical in the first quarter valued at $30,000. GAMMA Investing LLC raised its stake in shares of Inari Medical by 164.7% in the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after buying an additional 438 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Inari Medical by 83.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after acquiring an additional 435 shares during the period. Covestor Ltd boosted its position 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 in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Inari Medical by 39.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after acquiring an additional 522 shares during the period. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.