Inari Medical’s (NARI) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Inari Medical (NASDAQ:NARI) in a research report report published on Tuesday, Benzinga reports.

Other equities analysts have also recently issued research reports about the company. Piper Sandler boosted their price target on Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Inari Medical in a research report on Friday, August 9th. They set a “buy” rating and a $68.00 target price on the stock. Leerink Partners started coverage on shares of Inari Medical in a research note on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 price objective for the company. William Blair initiated coverage on shares of Inari Medical in a research note on Thursday, July 25th. They issued an “outperform” rating on the stock. Finally, Robert W. Baird upped their price objective on Inari Medical from $66.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $58.89.

Inari Medical Trading Up 0.7 %

NARI stock opened at $48.74 on Tuesday. The company’s 50 day moving average is $43.56 and its two-hundred day moving average is $45.99. Inari Medical has a twelve month low of $36.73 and a twelve month high of $67.13. The stock has a market cap of $2.85 billion, a P/E ratio of -36.10 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.25). Inari Medical had a negative return on equity of 10.09% and a negative net margin of 13.68%. The firm had revenue of $145.82 million for the quarter, compared to analyst estimates of $143.96 million. On average, equities research analysts predict that Inari Medical will post -0.74 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.05, for a total transaction of $2,002,000.00. Following the sale, the director now directly owns 561,233 shares of the company’s stock, valued at $28,089,711.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Mitch C. Hill sold 3,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $45.13, for a total transaction of $135,390.00. Following the transaction, the chief financial officer now 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William Hoffman sold 40,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.05, for a total transaction of $2,002,000.00. Following the completion of the transaction, the director now owns 561,233 shares in the company, valued at $28,089,711.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 131,000 shares of company stock valued at $6,161,340 over the last three months. 10.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S bought a new position in Inari Medical in the first quarter valued at $30,000. GAMMA Investing LLC lifted its stake in Inari Medical by 164.7% during the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock worth $34,000 after purchasing an additional 438 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Inari Medical by 83.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after purchasing an additional 435 shares in the last quarter. Covestor Ltd lifted its stake in Inari Medical by 30.2% in the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after purchasing an additional 376 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position 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 buying an additional 522 shares in the last quarter. 90.98% of the stock is 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.