Wells Fargo & Company Trims Inari Medical (NASDAQ:NARI) Target Price to $84.00

Inari Medical (NASDAQ:NARI) had its price objective lowered by Wells Fargo & Company from $100.00 to $84.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

NARI has been the subject of several other research reports. Canaccord Genuity Group reissued a buy rating and issued a $75.00 price objective on shares of Inari Medical in a research note on Friday, April 12th. Piper Sandler decreased their price objective on shares of Inari Medical from $55.00 to $50.00 and set a neutral rating for the company in a research note on Wednesday. Truist Financial decreased their price objective on shares of Inari Medical from $61.00 to $52.00 and set a hold rating for the company in a research note on Friday, March 22nd. Finally, Needham & Company LLC decreased their price objective on shares of Inari Medical from $72.00 to $57.00 and set a buy rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $65.71.

Inari Medical Stock Up 0.1 %

Shares of NASDAQ:NARI opened at $42.03 on Wednesday. Inari Medical has a 12 month low of $36.73 and a 12 month high of $71.85. The company has a 50-day moving average price of $43.12 and a 200 day moving average price of $53.68.

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. Research analysts expect that Inari Medical will post -0.41 earnings per share for the current fiscal year.

Insider Transactions at Inari Medical

In other news, Director William Hoffman sold 1,451 shares of the firm’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 transaction of $58,040.00. Following the transaction, the director now directly owns 999,782 shares of the company’s stock, valued at $39,991,280. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Mitch C. Hill sold 6,000 shares of Inari Medical 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 transaction, the chief financial officer now directly owns 181,294 shares of the company’s stock, valued at $7,425,802.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William Hoffman sold 1,451 shares of Inari Medical stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $40.00, for a total transaction of $58,040.00. Following the transaction, the director now directly owns 999,782 shares in the company, valued at $39,991,280. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,000 shares of company stock valued at $3,568,058. 10.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Inari Medical

Several institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in Inari Medical in the third quarter valued at approximately $962,000. Asset Management One Co. Ltd. boosted its stake in Inari Medical by 19.5% in the third quarter. Asset Management One Co. Ltd. now owns 47,390 shares of the company’s stock valued at $3,099,000 after acquiring an additional 7,720 shares in the last quarter. Brown Advisory Inc. boosted its stake in Inari Medical by 3.1% in the third quarter. Brown Advisory Inc. now owns 1,446,931 shares of the company’s stock valued at $94,629,000 after acquiring an additional 43,657 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Inari Medical by 18.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,397 shares of the company’s stock valued at $745,000 after acquiring an additional 1,755 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Inari Medical by 13.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,958 shares of the company’s stock valued at $1,632,000 after acquiring an additional 3,000 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other 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.