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

Inari Medical (NASDAQ:NARI) had its price objective reduced by Piper Sandler from $55.00 to $50.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

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

Inari Medical Price Performance

Shares of NASDAQ NARI opened at $42.03 on Wednesday. The business’s 50 day moving average price is $43.12 and its two-hundred day moving average price is $53.68. Inari Medical has a twelve month low of $36.73 and a twelve month high of $71.85.

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

Insider Transactions at Inari Medical

In other news, CFO Mitch C. Hill sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were 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 owns 181,294 shares in the company, valued at approximately $7,425,802.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Inari Medical news, Director William Hoffman sold 1,451 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly 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 SEC, which can be accessed through the SEC website. Also, CFO Mitch C. Hill sold 6,000 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were 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 a total of 86,000 shares of company stock worth $3,568,058 in the last quarter. Insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in Inari Medical in the 1st quarter valued at $30,000. New York State Teachers Retirement System lifted its holdings in shares of Inari Medical by 7.7% during the 1st quarter. New York State Teachers Retirement System now owns 58,097 shares of the company’s stock worth $2,787,000 after acquiring an additional 4,173 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Inari Medical by 76.4% during the 1st quarter. Louisiana State Employees Retirement System now owns 25,400 shares of the company’s stock worth $1,219,000 after acquiring an additional 11,000 shares during the last quarter. Maryland State Retirement & Pension System bought a new stake in shares of Inari Medical during the 1st quarter worth $886,000. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Inari Medical by 462.4% during the 1st quarter. State of Alaska Department of Revenue now owns 31,095 shares of the company’s stock worth $1,491,000 after acquiring an additional 25,566 shares during the last quarter. 90.98% of the stock is 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.