Inari Medical (NASDAQ:NARI) Coverage Initiated at Stifel Nicolaus

Investment analysts at Stifel Nicolaus started coverage on shares of Inari Medical (NASDAQ:NARI) in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage set a “hold” rating and a $50.00 price target on the stock. Stifel Nicolaus’ target price suggests a potential upside of 12.66% from the stock’s previous close.

A number of other equities analysts also recently issued reports on NARI. William Blair started coverage on Inari Medical in a research report on Thursday, July 25th. They set an “outperform” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research note on Wednesday, July 31st. Robert W. Baird decreased their price objective 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. Leerink Partnrs upgraded Inari Medical to a “hold” rating in a research note on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Inari Medical in a research note on Friday, August 9th. They set a “buy” rating and a $68.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $58.44.

Inari Medical Stock Performance

NASDAQ NARI opened at $44.38 on Tuesday. The company has a market cap of $2.58 billion, a P/E ratio of -108.24 and a beta of 1.00. The business’s 50 day moving average price is $48.44 and its 200-day moving average price is $46.09. Inari Medical has a fifty-two week low of $36.73 and a fifty-two week high of $69.40.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings data on Tuesday, July 30th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.25). The business had revenue of $145.82 million during the quarter, compared to the consensus estimate of $143.96 million. Inari Medical had a negative net margin of 10.42% and a negative return on equity of 7.51%. As a group, equities analysts predict that Inari Medical will post -0.7 EPS for the current year.

Insider Activity

In other news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $50.08, for a total transaction of $150,240.00. Following the completion of the transaction, the chief executive officer now directly owns 462,474 shares of the company’s stock, valued at approximately $23,160,697.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Inari Medical news, Director William Hoffman sold 60,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $56.74, for a total transaction of $3,404,400.00. Following the transaction, the director now owns 743,296 shares in the company, valued at $42,174,615.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 462,474 shares in the company, valued at $23,160,697.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,780 shares of company stock valued at $8,123,664. Company insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

Several institutional investors have recently modified their holdings of NARI. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Inari Medical in the first quarter valued at approximately $30,000. GAMMA Investing LLC raised its stake in Inari Medical by 164.7% in the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after purchasing an additional 438 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Inari Medical by 83.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after purchasing an additional 435 shares in the last quarter. Covestor Ltd boosted its stake in Inari Medical by 30.2% during the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after purchasing an additional 376 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

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.