Truist Financial Forecasts Strong Price Appreciation for Inari Medical (NASDAQ:NARI) Stock

Inari Medical (NASDAQ:NARI) had its target price hoisted by Truist Financial from $46.00 to $50.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a hold rating on the stock.

A number of other research firms also recently weighed in on NARI. William Blair assumed coverage on shares of Inari Medical in a research report on Thursday, July 25th. They issued an “outperform” rating for the company. Leerink Partnrs raised Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. 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. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research report on Tuesday. Finally, Canaccord Genuity Group lifted their target price on shares of Inari Medical from $71.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $58.89.

Inari Medical Stock Up 2.8 %

NASDAQ:NARI opened at $48.40 on Tuesday. The stock’s fifty day simple moving average is $43.50 and its 200-day simple moving average is $45.97. The firm has a market capitalization of $2.83 billion, a P/E ratio of -35.85 and a beta of 1.00. Inari Medical has a 12-month low of $36.73 and a 12-month high of $67.13.

Inari Medical (NASDAQ:NARI) last issued its quarterly earnings data on Tuesday, July 30th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.25). The company had revenue of $145.82 million for the quarter, compared to analyst estimates of $143.96 million. Inari Medical had a negative return on equity of 10.09% and a negative net margin of 13.68%. As a group, equities research analysts expect that Inari Medical will post -0.74 earnings per share for the current year.

Insider Activity

In other Inari Medical news, CFO Mitch C. Hill sold 5,000 shares of Inari Medical stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $47.99, for a total value of $239,950.00. Following the transaction, the chief financial officer now owns 179,600 shares in the company, valued at $8,619,004. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Mitch C. Hill sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $47.99, for a total transaction of $239,950.00. Following the completion of the transaction, the chief financial officer now directly owns 179,600 shares in the company, valued at $8,619,004. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total value of $150,000.00. Following the completion of the transaction, the chief executive officer now directly owns 445,310 shares of the company’s stock, valued at approximately $22,265,500. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 131,000 shares of company stock worth $6,161,340. Insiders own 10.60% of the company’s stock.

Hedge Funds Weigh In On Inari Medical

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Inari Medical during the 1st quarter worth approximately $30,000. GAMMA Investing LLC raised its position in shares of Inari Medical by 164.7% during the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock worth $34,000 after purchasing an additional 438 shares during the period. Nisa Investment Advisors LLC lifted its holdings 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 purchasing an additional 435 shares in the last quarter. Covestor Ltd grew its position in Inari Medical by 30.2% in the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after purchasing an additional 376 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its holdings 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 buying an additional 522 shares during the last quarter. 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.