Inari Medical (NASDAQ:NARI) Receives New Coverage from Analysts at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Inari Medical (NASDAQ:NARI) in a research note issued to investors on Tuesday, Marketbeat reports. The firm issued a hold rating and a $50.00 price objective on the stock.

Other research analysts have also issued reports about the company. Needham & Company LLC reissued a hold rating on shares of Inari Medical in a report on Wednesday, July 31st. Leerink Partners assumed coverage on shares of Inari Medical in a report on Tuesday, September 3rd. They issued a market perform rating and a $47.00 price objective on the stock. Truist Financial restated a hold rating and set a $55.00 target price (down previously from $60.00) on shares of Inari Medical in a research note on Wednesday, July 31st. William Blair initiated coverage on shares of Inari Medical in a research note on Thursday, July 25th. They issued an outperform rating on the stock. Finally, Piper Sandler reissued a neutral rating and issued a $50.00 price target on shares of Inari Medical in a report on Monday, August 26th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $58.44.

Inari Medical Price Performance

Shares of NARI stock opened at $43.84 on Tuesday. The company has a fifty day moving average price of $48.25 and a two-hundred day moving average price of $46.07. Inari Medical has a one year low of $36.73 and a one year high of $69.40. The stock has a market cap of $2.55 billion, a P/E ratio of -106.93 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last issued its earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.25). The firm had revenue of $145.82 million during the quarter, compared to analyst estimates of $143.96 million. Inari Medical had a negative net margin of 10.42% and a negative return on equity of 7.51%. As a group, equities research analysts anticipate that Inari Medical will post -0.7 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $50.08, for a total transaction of $150,240.00. Following the completion of the sale, the chief executive officer now directly owns 462,474 shares in the company, valued at approximately $23,160,697.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $50.08, for a total value of $150,240.00. Following the transaction, the chief executive officer now owns 462,474 shares in the company, valued at $23,160,697.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.83, for a total transaction of $1,833,200.00. Following the sale, the director now directly owns 643,296 shares of the company’s stock, valued at approximately $29,482,255.68. The disclosure for this sale can be found here. Insiders have sold 155,520 shares of company stock valued at $8,111,707 over the last 90 days. 10.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Inari Medical in the 1st quarter valued at $30,000. GAMMA Investing LLC boosted its stake in Inari Medical by 164.7% in the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after buying an additional 438 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Inari Medical by 83.5% in the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after acquiring an additional 435 shares during the last quarter. Covestor Ltd raised its stake in Inari Medical by 30.2% during the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after acquiring an additional 376 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Inari Medical by 39.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after acquiring an additional 522 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.