Needham & Company LLC Reaffirms Hold Rating for Inari Medical (NASDAQ:NARI)

Inari Medical (NASDAQ:NARI)‘s stock had its “hold” rating reissued by investment analysts at Needham & Company LLC in a research note issued on Wednesday, Benzinga reports.

A number of other research analysts also recently issued reports on the company. Canaccord Genuity Group reduced their price target on Inari Medical from $75.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Piper Sandler reduced their price target on Inari Medical from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. William Blair began coverage on Inari Medical in a report on Thursday, July 25th. They set an “outperform” rating on the stock. Wells Fargo & Company reduced 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. Finally, Truist Financial upped 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. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Inari Medical presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.83.

Inari Medical Trading Down 2.1 %

NASDAQ NARI opened at $52.11 on Wednesday. Inari Medical has a 1-year low of $36.73 and a 1-year high of $71.85. The stock has a 50-day moving average of $50.21 and a 200-day moving average of $48.79. The firm has a market cap of $3.03 billion, a PE ratio of -127.10 and a beta of 1.01.

Inari Medical (NASDAQ:NARI) last released its earnings results on Tuesday, April 30th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $143.19 million during the quarter, compared to the consensus estimate of $138.32 million. As a group, equities research analysts forecast that Inari Medical will post -0.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Inari Medical

In other Inari Medical news, CFO Mitch C. Hill sold 6,000 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $45.97, for a total transaction of $275,820.00. Following the sale, the chief financial officer now directly owns 181,294 shares in the company, valued at approximately $8,334,085.18. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Mitch C. Hill sold 6,000 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $45.97, for a total value of $275,820.00. Following the transaction, the chief financial officer now directly owns 181,294 shares in the company, valued at approximately $8,334,085.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Rebecca Chambers sold 964 shares of the firm’s stock in a transaction on 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 owns 9,944 shares in the company, valued at $451,358.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 222,744 shares of company stock worth $11,494,500. Insiders own 10.60% of the company’s stock.

Hedge Funds Weigh In On Inari Medical

Institutional investors and hedge funds have recently modified their holdings of the company. D.A. Davidson & CO. lifted its position in Inari Medical by 1.8% during the fourth quarter. D.A. Davidson & CO. now owns 10,570 shares of the company’s stock valued at $686,000 after purchasing an additional 188 shares in the last quarter. New York State Teachers Retirement System lifted its position in Inari Medical by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 53,924 shares of the company’s stock valued at $3,501,000 after purchasing an additional 233 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Inari Medical by 27.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock valued at $71,000 after purchasing an additional 236 shares in the last quarter. Bessemer Group Inc. lifted its position in Inari Medical by 16.4% during the first quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock valued at $117,000 after purchasing an additional 344 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Inari Medical by 7.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock valued at $234,000 after acquiring an additional 348 shares during the period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

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.