Inari Medical (NASDAQ:NARI) Now Covered by William Blair

William Blair began coverage on shares of Inari Medical (NASDAQ:NARI) in a research report released on Thursday, MarketBeat Ratings reports. The brokerage issued an outperform rating on the stock.

Several other equities research analysts also recently weighed in on NARI. Canaccord Genuity Group cut their price objective on Inari Medical from $75.00 to $55.00 and set a buy rating on the stock in a report on Wednesday, May 1st. Wells Fargo & Company cut their target price on Inari Medical from $100.00 to $84.00 and set an overweight rating on the stock in a report on Wednesday, May 1st. Truist Financial lifted their target price on Inari Medical from $47.00 to $60.00 and gave the stock a hold rating in a report on Tuesday, July 16th. Piper Sandler cut their target price on Inari Medical from $55.00 to $50.00 and set a neutral rating on the stock in a report on Wednesday, May 1st. Finally, Needham & Company LLC downgraded Inari Medical from a buy rating to a hold rating in a report on Thursday, July 18th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $64.83.

Inari Medical Stock Down 2.5 %

NASDAQ NARI opened at $53.83 on Thursday. Inari Medical has a twelve month low of $36.73 and a twelve month high of $71.85. The company has a market cap of $3.13 billion, a price-to-earnings ratio of -131.29 and a beta of 1.01. The business’s fifty day moving average is $49.94 and its 200 day moving average is $48.86.

Inari Medical (NASDAQ:NARI) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.15). Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. The firm had revenue of $143.19 million for the quarter, compared to analyst estimates of $138.32 million. On average, research analysts anticipate that Inari Medical will post -0.41 earnings per share for the current fiscal year.

Insider Transactions at Inari Medical

In other news, insider Thomas Tu sold 16,520 shares of Inari Medical stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $55.09, for a total value of $910,086.80. Following the completion of the transaction, the insider now directly owns 313,257 shares of the company’s stock, valued at approximately $17,257,328.13. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Thomas Tu sold 16,520 shares of Inari Medical stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $55.09, for a total value of $910,086.80. Following the completion of the transaction, the insider now directly owns 313,257 shares of the company’s stock, valued at approximately $17,257,328.13. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Rebecca Chambers sold 964 shares of Inari Medical stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $45.39, for a total value of $43,755.96. Following the completion of the transaction, the director now directly owns 9,944 shares of the company’s stock, valued at $451,358.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 261,293 shares of company stock valued at $13,113,558. Corporate insiders own 10.60% of the company’s stock.

Hedge Funds Weigh In On Inari Medical

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in shares of Inari Medical by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 596,007 shares of the company’s stock worth $38,693,000 after buying an additional 41,555 shares during the last quarter. Norges Bank purchased a new position in Inari Medical in the fourth quarter valued at approximately $29,491,000. New York State Common Retirement Fund lifted its stake in Inari Medical by 10.7% in 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 during the last quarter. Knights of Columbus Asset Advisors LLC lifted 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 valued at $2,962,000 after purchasing an additional 22,780 shares during the last quarter. Finally, Motley Fool Asset Management LLC lifted its stake in Inari Medical by 46.2% in the first quarter. Motley Fool Asset Management LLC now owns 64,677 shares of the company’s stock valued at $3,103,000 after purchasing an additional 20,438 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

About Inari Medical

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.