Piper Sandler Forecasts Strong Price Appreciation for Inari Medical (NASDAQ:NARI) Stock

Inari Medical (NASDAQ:NARI) had its price target upped by analysts at Piper Sandler from $50.00 to $52.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 10.40% from the company’s previous close.

Several other brokerages also recently issued reports on NARI. Canaccord Genuity Group upped their price objective on Inari Medical from $55.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a research note on Wednesday, October 9th. Leerink Partnrs upgraded shares of Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. Truist Financial reduced their price objective on shares of Inari Medical from $55.00 to $46.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Inari Medical in a research note on Friday, August 9th. They issued a “buy” rating and a $68.00 target price for the company. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $58.89.

Inari Medical Stock Down 4.2 %

Shares of Inari Medical stock opened at $47.10 on Tuesday. 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 has a 52-week low of $36.73 and a 52-week high of $67.13. The company’s 50-day simple moving average is $43.51 and its 200-day simple moving average is $45.96.

Inari Medical (NASDAQ:NARI) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 10.42% and a negative return on equity of 7.51%. Equities research analysts anticipate that Inari Medical will post -0.75 EPS for the current year.

Insider Activity

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 value of $135,390.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Mitch C. Hill sold 3,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $45.13, for a total transaction of $135,390.00. Following the completion of the sale, the chief financial officer now owns 179,600 shares in the company, valued at $8,105,348. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mitch C. Hill sold 5,000 shares of Inari Medical stock in a transaction 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 completion of the transaction, the chief financial officer now owns 179,600 shares of the company’s stock, valued at approximately $8,619,004. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 88,000 shares of company stock valued at $4,009,340. 10.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Inari Medical

Several hedge funds have recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Inari Medical in the 1st quarter valued at approximately $30,000. GAMMA Investing LLC lifted its stake in Inari Medical by 164.7% in the second 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 stake in Inari Medical by 83.5% in the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after buying an additional 435 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Inari Medical by 30.2% in the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after buying an additional 376 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Inari Medical by 39.4% during 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 in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.