Inari Medical (NASDAQ:NARI) Trading Down 3.6%

Shares of Inari Medical, Inc. (NASDAQ:NARI) fell 3.6% during trading on Tuesday . The stock traded as low as $44.23 and last traded at $44.57. 285,406 shares were traded during mid-day trading, a decline of 72% from the average session volume of 1,010,501 shares. The stock had previously closed at $46.25.

Analysts Set New Price Targets

A number of research firms recently issued reports on NARI. Wells Fargo & Company decreased their price target on shares of Inari Medical from $84.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Leerink Partners began coverage on shares of Inari Medical in a research note on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price target on the stock. Stifel Nicolaus began coverage on shares of Inari Medical in a research note on Tuesday. They set a “hold” rating and a $50.00 price target on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Inari Medical in a research note on Friday, August 9th. They set a “buy” rating and a $68.00 price target on the stock. Finally, William Blair assumed coverage on shares of Inari Medical in a research note on Thursday, July 25th. They set an “outperform” rating on the stock. Six equities 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, the stock presently has an average rating of “Hold” and an average target price of $58.44.

Inari Medical Stock Down 1.2 %

The company’s 50 day moving average price is $48.44 and its two-hundred day moving average price is $46.09. The firm has a market cap of $2.55 billion, a PE ratio of -108.24 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $143.96 million. Inari Medical had a negative return on equity of 7.51% and a negative net margin of 10.42%. On average, analysts expect that Inari Medical, Inc. will post -0.7 earnings per share for the current fiscal year.

Insider Transactions at Inari Medical

In other news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $45.83, for a total value of $1,833,200.00. Following the transaction, the director now directly owns 643,296 shares in the company, valued at $29,482,255.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Mitch C. Hill sold 3,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $45.13, for a total value of $135,390.00. Following the completion of the transaction, the chief financial officer now directly owns 179,600 shares of the company’s stock, valued at approximately $8,105,348. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.83, for a total transaction of $1,833,200.00. Following the transaction, the director now directly owns 643,296 shares of the company’s stock, valued at $29,482,255.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 155,780 shares of company stock worth $8,123,664. Insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Inari Medical by 11.1% in the 1st quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock valued at $268,681,000 after acquiring an additional 561,562 shares during the period. Point72 Asset Management L.P. grew its position in shares of Inari Medical by 113.3% during the second quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock worth $71,324,000 after buying an additional 786,691 shares in the last quarter. Armistice Capital LLC grew its position in shares of Inari Medical by 353.1% during the second quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock worth $48,595,000 after buying an additional 786,501 shares in the last quarter. American Century Companies Inc. boosted its holdings in Inari Medical by 26.8% in the second quarter. American Century Companies Inc. now owns 980,917 shares of the company’s stock valued at $47,231,000 after purchasing an additional 207,485 shares in the last quarter. Finally, Bamco Inc. NY boosted its holdings in Inari Medical by 27.4% in the first quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock valued at $37,288,000 after purchasing an additional 167,000 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.