Inari Medical (NASDAQ:NARI) Stock Price Up 4.4%

Inari Medical, Inc. (NASDAQ:NARI)’s share price traded up 4.4% during mid-day trading on Wednesday . The stock traded as high as $39.23 and last traded at $38.75. 561,214 shares traded hands during trading, a decline of 50% from the average session volume of 1,124,220 shares. The stock had previously closed at $37.11.

Analyst Upgrades and Downgrades

NARI has been the topic of several research analyst reports. Piper Sandler cut shares of Inari Medical from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $85.00 to $55.00 in a research note on Thursday, February 29th. Truist Financial reduced their target price on shares of Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a research report on Friday, March 22nd. Needham & Company LLC restated a “buy” rating and issued a $72.00 price objective on shares of Inari Medical in a research report on Wednesday, March 6th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $75.00 target price on shares of Inari Medical in a research note on Friday, April 12th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Inari Medical presently has a consensus rating of “Moderate Buy” and an average price target of $73.71.

Inari Medical Stock Up 2.9 %

The business’s 50 day simple moving average is $46.08 and its 200-day simple moving average is $54.77. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -1,272.67 and a beta of 0.84.

Inari Medical (NASDAQ:NARI) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.09). Inari Medical had a positive return on equity of 1.23% and a negative net margin of 0.33%. The firm had revenue of $132.10 million for the quarter, compared to the consensus estimate of $131.82 million. During the same quarter last year, the firm posted ($0.11) earnings per share. The business’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, analysts expect that Inari Medical, Inc. will post -0.39 earnings per share for the current year.

Insider Activity at Inari Medical

In related news, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $41.13, for a total value of $1,645,200.00. Following the transaction, the director now directly owns 1,003,296 shares of the company’s stock, valued at $41,265,564.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director William Hoffman sold 40,000 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $41.13, for a total transaction of $1,645,200.00. Following the transaction, the director now owns 1,003,296 shares in the company, valued at approximately $41,265,564.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mitch C. Hill sold 6,000 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was 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 of the company’s stock, valued at $7,425,802.24. The disclosure for this sale can be found here. Insiders sold 47,451 shares of company stock worth $1,949,000 over the last three months. Company insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NARI. Fifth Third Bancorp grew its holdings in Inari Medical by 54.3% during the third quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock worth $32,000 after buying an additional 171 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Inari Medical by 27.4% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock valued at $71,000 after buying an additional 236 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Inari Medical by 139.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,189 shares of the company’s stock worth $78,000 after buying an additional 693 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Inari Medical by 35.7% in the 3rd quarter. IFP Advisors Inc now owns 1,939 shares of the company’s stock worth $127,000 after buying an additional 510 shares during the last quarter. Finally, Handelsinvest Investeringsforvaltning bought a new position in shares of Inari Medical in the fourth quarter valued at approximately $185,000. 90.98% of the stock is owned by 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.