Truist Financial Boosts Inari Medical (NASDAQ:NARI) Price Target to $50.00

Inari Medical (NASDAQ:NARI) had its target price hoisted by equities researchers at Truist Financial from $46.00 to $50.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price would suggest a potential upside of 6.16% from the stock’s previous close.

A number of other equities analysts also recently issued reports on NARI. Leerink Partnrs upgraded Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft began coverage on Inari Medical in a research report on Friday, August 9th. They set a “buy” rating and a $68.00 price objective on the stock. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research report on Tuesday. Piper Sandler raised their target price on Inari Medical from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Wells Fargo & Company dropped their target price on Inari Medical from $84.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $58.89.

Inari Medical Stock Down 4.2 %

Shares of Inari Medical stock opened at $47.10 on Tuesday. The company has a market cap of $2.74 billion, a PE ratio of -37.25 and a beta of 1.00. The business has a 50 day moving average of $43.51 and a 200 day moving average of $45.96. Inari Medical has a 52 week low of $36.73 and a 52 week high of $67.13.

Inari Medical (NASDAQ:NARI) last announced its 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 business had revenue of $145.82 million for 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%. On average, research analysts anticipate that Inari Medical will post -0.75 earnings per share for the current year.

Insider Activity at Inari Medical

In related news, Director William Hoffman sold 40,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 643,296 shares in the company, valued at $29,482,255.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Inari Medical news, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction 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 completion of the sale, the director now directly owns 643,296 shares of the company’s stock, valued at $29,482,255.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mitch C. Hill sold 3,000 shares of Inari Medical stock in a transaction 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 sale, the chief financial officer now directly owns 179,600 shares of the company’s stock, valued at approximately $8,105,348. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,000 shares of company stock worth $4,009,340 in the last quarter. 10.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NARI. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Inari Medical during the 1st quarter valued at about $30,000. GAMMA Investing LLC grew its stake in 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 purchasing an additional 438 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Inari Medical by 83.5% during 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 during the last quarter. Covestor Ltd grew its stake in Inari Medical by 30.2% during 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 last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Inari Medical by 39.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after purchasing an additional 522 shares during the last quarter. 90.98% of the stock is owned by institutional investors.

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.