Inari Medical (NASDAQ:NARI) Lifted to Hold at Leerink Partnrs

Leerink Partnrs upgraded shares of Inari Medical (NASDAQ:NARI) to a hold rating in a report published on Tuesday morning, Zacks.com reports. Leerink Partnrs also issued estimates for Inari Medical’s Q3 2024 earnings at ($0.08) EPS, Q4 2024 earnings at ($0.03) EPS, FY2024 earnings at ($0.41) EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.03 EPS, Q3 2025 earnings at $0.03 EPS, Q4 2025 earnings at $0.06 EPS, FY2025 earnings at $0.13 EPS, FY2026 earnings at $0.37 EPS, FY2027 earnings at $0.73 EPS and FY2028 earnings at $1.16 EPS.

Several other brokerages have also recently issued reports on NARI. Needham & Company LLC restated a hold rating on shares of Inari Medical in a report on Wednesday, July 31st. Leerink Partners began coverage on shares of Inari Medical in a research report on Tuesday. They issued a market perform rating and a $47.00 target price for the company. Piper Sandler reiterated a neutral rating and set a $50.00 target price on shares of Inari Medical in a report on Monday, August 26th. Robert W. Baird lowered their target price on Inari Medical from $65.00 to $63.00 and set an outperform rating for the company in a research note on Wednesday, July 31st. Finally, Truist Financial reaffirmed a hold rating and issued a $55.00 price target (down from $60.00) on shares of Inari Medical in a research note on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $59.50.

Inari Medical Stock Performance

Shares of Inari Medical stock opened at $45.52 on Tuesday. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -111.02 and a beta of 1.00. The company has a fifty day moving average of $49.34 and a 200-day moving average of $46.68. Inari Medical has a 52-week low of $36.73 and a 52-week high of $69.40.

Insider Activity

In related news, CFO Mitch C. Hill sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $47.60, for a total value of $238,000.00. Following the transaction, the chief financial officer now owns 181,294 shares in the company, valued at approximately $8,629,594.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Mitch C. Hill sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $47.60, for a total value of $238,000.00. Following the completion of the transaction, the chief financial officer now directly owns 181,294 shares in the company, valued at approximately $8,629,594.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $50.08, for a total value of $150,240.00. Following the sale, the chief executive officer now owns 462,474 shares in the company, valued at $23,160,697.92. The disclosure for this sale can be found here. Insiders sold 117,780 shares of company stock worth $6,393,074 over the last three months. 10.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Inari Medical

A number of hedge funds have recently bought and sold shares of the business. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Inari Medical during the first quarter valued at approximately $30,000. GAMMA Investing LLC lifted its holdings in shares of Inari Medical by 164.7% during the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after buying an additional 438 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Inari Medical by 83.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after buying an additional 435 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Inari Medical by 27.4% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock worth $71,000 after buying an additional 236 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Inari Medical by 30.2% in the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after acquiring an additional 376 shares during the period. Hedge funds and other 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.