Piper Sandler Cuts Inari Medical (NASDAQ:NARI) Price Target to $50.00

Inari Medical (NASDAQ:NARI) had its price objective cut by Piper Sandler from $55.00 to $50.00 in a report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also issued reports about the company. Needham & Company LLC lowered their target price on Inari Medical from $72.00 to $57.00 and set a buy rating on the stock in a report on Wednesday. Truist Financial cut their target price 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, Canaccord Genuity Group restated a buy rating and issued a $75.00 target price on shares of Inari Medical in a report on Friday, April 12th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $65.71.

Inari Medical Stock Up 0.1 %

Shares of Inari Medical stock opened at $42.03 on Wednesday. Inari Medical has a 1-year low of $36.73 and a 1-year high of $71.85. The business’s fifty day moving average price is $43.12 and its two-hundred day moving average price is $53.65.

Inari Medical (NASDAQ:NARI) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). Inari Medical had a negative return on equity of 1.65% and a negative net margin of 4.54%. The company had revenue of $132.10 million during the quarter, compared to analyst estimates of $131.82 million. During the same period in the prior year, the company posted ($0.11) earnings per share. The company’s revenue was up 22.5% on a year-over-year basis. On average, analysts predict that Inari Medical will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Inari Medical news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $41.13, for a total value 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 document filed with the SEC, which can be accessed through this link. In other Inari Medical news, CFO Mitch C. Hill sold 6,000 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $40.96, for a total value of $245,760.00. Following the transaction, the chief financial officer now directly owns 181,294 shares of the company’s stock, valued at approximately $7,425,802.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction that occurred 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 completion of the sale, the director now owns 1,003,296 shares of the company’s stock, valued at $41,265,564.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,000 shares of company stock worth $3,568,058. 10.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in shares of Inari Medical in the 4th quarter valued at approximately $29,491,000. Vanguard Group Inc. lifted its position in shares of Inari Medical by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 5,038,292 shares of the company’s stock worth $327,086,000 after purchasing an additional 325,586 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Inari Medical by 127.3% during the 3rd quarter. Principal Financial Group Inc. now owns 459,644 shares of the company’s stock valued at $30,061,000 after purchasing an additional 257,463 shares during the period. Brown Advisory Inc. lifted its holdings in shares of Inari Medical by 17.6% during the fourth quarter. Brown Advisory Inc. now owns 1,702,113 shares of the company’s stock worth $110,501,000 after buying an additional 255,182 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of Inari Medical in the third quarter valued at approximately $14,267,000. Institutional investors own 90.98% of the company’s stock.

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.