Inari Medical (NARI) to Release Quarterly Earnings on Wednesday

Inari Medical (NASDAQ:NARI) is projected to issue its quarterly earnings data before the market opens on Wednesday, February 26th. Analysts expect the company to announce earnings of $0.01 per share and revenue of $160.61 million for the quarter.

Inari Medical Stock Performance

NARI opened at $79.97 on Wednesday. Inari Medical has a fifty-two week low of $36.73 and a fifty-two week high of $79.99. The company has a fifty day moving average of $69.60 and a two-hundred day moving average of $54.60. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of -59.24 and a beta of 1.02.

Insiders Place Their Bets

In related news, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $55.29, for a total value of $165,870.00. Following the sale, the chief executive officer now directly owns 439,310 shares of the company’s stock, valued at approximately $24,289,449.90. This trade represents a 0.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Hoffman sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $55.66, for a total transaction of $3,339,600.00. Following the completion of the sale, the director now directly owns 441,233 shares in the company, valued at $24,559,028.78. This represents a 11.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 263,000 shares of company stock valued at $15,599,470 in the last ninety days. Insiders own 10.60% of the company’s stock.

Wall Street Analyst Weigh In

NARI has been the topic of several research analyst reports. Robert W. Baird reiterated a “neutral” rating and issued a $80.00 target price (down previously from $81.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Canaccord Genuity Group reiterated a “hold” rating and issued a $80.00 target price (up previously from $74.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Wells Fargo & Company restated an “equal weight” rating and set a $80.00 price target (up from $65.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Oppenheimer began coverage on shares of Inari Medical in a research report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price target on the stock. Finally, Piper Sandler boosted their price target on shares of Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $68.00.

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.