Inari Medical (NASDAQ:NARI) Now Covered by Analysts at Stifel Nicolaus

Investment analysts at Stifel Nicolaus initiated coverage on shares of Inari Medical (NASDAQ:NARI) in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage set a “hold” rating and a $50.00 price target on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 13.38% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Truist Financial reiterated a “hold” rating and issued a $55.00 price target (down from $60.00) on shares of Inari Medical in a report on Wednesday, July 31st. Wells Fargo & Company lowered their price target on Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Leerink Partners began coverage on Inari Medical in a research note on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 target price for the company. Piper Sandler restated a “neutral” rating and set a $50.00 target price on shares of Inari Medical in a research note on Monday, August 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research note on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $58.44.

Inari Medical Stock Performance

Shares of NARI traded down $2.15 during trading hours on Tuesday, hitting $44.10. The stock had a trading volume of 993,652 shares, compared to its average volume of 1,014,457. The firm has a market cap of $2.56 billion, a P/E ratio of -107.56 and a beta of 1.00. The company’s fifty day simple moving average is $48.73 and its 200 day simple moving average is $46.11. Inari Medical has a 12-month low of $36.73 and a 12-month high of $69.40.

Inari Medical (NASDAQ:NARI) last issued its earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share 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 analysts’ expectations of $143.96 million. Inari Medical had a negative return on equity of 7.51% and a negative net margin of 10.42%. As a group, sell-side analysts predict that Inari Medical will post -0.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Inari Medical news, CFO Mitch C. Hill sold 3,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $45.13, for a total value of $135,390.00. Following the transaction, the chief financial officer now owns 179,600 shares of the company’s stock, valued at $8,105,348. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Mitch C. Hill sold 3,000 shares of Inari Medical stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $45.13, for a total transaction of $135,390.00. Following the sale, the chief financial officer now owns 179,600 shares of the company’s stock, valued at $8,105,348. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William Hoffman sold 60,000 shares of Inari Medical stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $56.74, for a total value of $3,404,400.00. Following the sale, the director now directly owns 743,296 shares in the company, valued at approximately $42,174,615.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 115,780 shares of company stock worth $6,290,464. Corporate insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Inari Medical during the second quarter valued at approximately $104,000. Maven Securities LTD grew its position in Inari Medical by 33.3% in the second quarter. Maven Securities LTD now owns 20,000 shares of the company’s stock worth $963,000 after buying an additional 5,000 shares during the last quarter. Algert Global LLC acquired a new position in Inari Medical in the second quarter worth approximately $1,537,000. Susquehanna Fundamental Investments LLC purchased a new position in Inari Medical during the 2nd quarter worth approximately $6,462,000. Finally, Lighthouse Investment Partners LLC purchased a new position in Inari Medical during the 2nd quarter worth approximately $2,145,000. Institutional investors and hedge funds 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.