Inari Medical (NASDAQ:NARI) Given New $84.00 Price Target at Wells Fargo & Company

Inari Medical (NASDAQ:NARI) had its target price decreased by Wells Fargo & Company from $100.00 to $84.00 in a research report report published on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities analysts also recently weighed in on the company. Truist Financial cut their target price on Inari Medical from $61.00 to $52.00 and set a hold rating on the stock in a research report on Friday, March 22nd. Needham & Company LLC reduced their target price on shares of Inari Medical from $72.00 to $57.00 and set a buy rating on the stock in a research note on Wednesday. Piper Sandler lowered their target price on shares of Inari Medical from $55.00 to $50.00 and set a neutral rating for the company in a report on Wednesday. Finally, Canaccord Genuity Group reiterated a buy rating and set a $75.00 price target on shares of Inari Medical in a report on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Inari Medical currently has a consensus rating of Moderate Buy and a consensus price target of $65.71.

Inari Medical Stock Up 0.1 %

Inari Medical stock opened at $42.03 on Wednesday. Inari Medical has a 52-week low of $36.73 and a 52-week high of $71.85. The firm’s fifty day moving average is $43.12 and its 200 day moving average is $53.65.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. The business had revenue of $132.10 million during the quarter, compared to the consensus estimate of $131.82 million. During the same period in the previous year, the business posted ($0.11) EPS. The firm’s revenue was up 22.5% on a year-over-year basis. Equities research analysts expect that Inari Medical will post -0.41 EPS for the current fiscal year.

Insider Transactions at Inari Medical

In related news, Director William Hoffman sold 38,549 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $42.00, for a total value of $1,619,058.00. Following the transaction, the director now owns 965,359 shares of the company’s stock, valued at approximately $40,545,078. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Inari Medical news, CFO Mitch C. Hill sold 6,000 shares of Inari Medical stock in a transaction 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 sale, the chief financial officer now directly owns 181,294 shares of the company’s stock, valued at approximately $7,425,802.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William Hoffman sold 38,549 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $42.00, for a total value of $1,619,058.00. Following the transaction, the director now directly owns 965,359 shares in the company, valued at approximately $40,545,078. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,000 shares of company stock worth $3,568,058. Insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

Institutional investors and hedge funds have recently made changes to their positions in the company. Knights of Columbus Asset Advisors LLC raised its stake in Inari Medical by 99.7% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 45,621 shares of the company’s stock worth $2,962,000 after buying an additional 22,780 shares in the last quarter. New York State Common Retirement Fund boosted its position in Inari Medical by 10.7% during the fourth quarter. New York State Common Retirement Fund now owns 311,410 shares of the company’s stock valued at $20,217,000 after purchasing an additional 29,983 shares in the last quarter. Bamco Inc. NY raised its holdings in Inari Medical by 18.2% in the third quarter. Bamco Inc. NY now owns 557,937 shares of the company’s stock worth $36,489,000 after purchasing an additional 86,000 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Inari Medical during the third quarter valued at about $2,564,000. Finally, Strs Ohio boosted its holdings in shares of Inari Medical by 27.1% in the 4th quarter. Strs Ohio now owns 6,100 shares of the company’s stock valued at $396,000 after buying an additional 1,300 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

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.