Inari Medical (NASDAQ:NARI) PT Lowered to $50.00 at Piper Sandler

Inari Medical (NASDAQ:NARI) had its price objective trimmed by Piper Sandler from $55.00 to $50.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other brokerages also recently weighed in on NARI. Needham & Company LLC reduced their target price on Inari Medical from $72.00 to $57.00 and set a buy rating for the company in a report on Wednesday. Canaccord Genuity Group reissued a buy rating and issued a $75.00 price objective on shares of Inari Medical in a research report on Friday, April 12th. Finally, Truist Financial decreased their target price on Inari Medical from $61.00 to $52.00 and set a hold rating for the company in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Inari Medical presently has a consensus rating of Moderate Buy and an average target price of $65.71.

Inari Medical Stock Performance

Shares of NASDAQ:NARI opened at $41.60 on Wednesday. The stock’s fifty day simple moving average is $43.72 and its two-hundred day simple moving average is $53.87. Inari Medical has a 1-year low of $36.73 and a 1-year high of $71.85.

Inari Medical (NASDAQ:NARI) last announced its earnings results on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.09). Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.64%. The firm had revenue of $132.10 million during the quarter, compared to analysts’ expectations of $131.82 million. During the same quarter in the prior year, the company earned ($0.11) EPS. The business’s revenue for the quarter was up 22.5% on a year-over-year basis. As a group, research analysts expect that Inari Medical will post -0.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director William Hoffman sold 1,451 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $40.00, for a total transaction of $58,040.00. Following the transaction, the director now owns 999,782 shares of the company’s stock, valued at approximately $39,991,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director William Hoffman sold 1,451 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $40.00, for a total value of $58,040.00. Following the sale, the director now owns 999,782 shares of the company’s stock, valued at $39,991,280. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Mitch C. Hill sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $40.96, for a total transaction of $245,760.00. Following the completion of the transaction, the chief financial officer now directly owns 181,294 shares of the company’s stock, valued at $7,425,802.24. The disclosure for this sale can be found here. Insiders sold 47,451 shares of company stock valued at $1,949,000 over the last ninety days. 10.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NARI. SG Americas Securities LLC purchased a new stake in shares of Inari Medical in the third quarter worth about $962,000. Asset Management One Co. Ltd. lifted its stake in Inari Medical by 19.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 47,390 shares of the company’s stock worth $3,099,000 after purchasing an additional 7,720 shares in the last quarter. Brown Advisory Inc. boosted its holdings in Inari Medical by 3.1% in the 3rd quarter. Brown Advisory Inc. now owns 1,446,931 shares of the company’s stock valued at $94,629,000 after purchasing an additional 43,657 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Inari Medical by 18.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,397 shares of the company’s stock valued at $745,000 after purchasing an additional 1,755 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Inari Medical by 13.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,958 shares of the company’s stock valued at $1,632,000 after purchasing an additional 3,000 shares in the last quarter. 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.