Inari Medical, Inc. (NASDAQ:NARI – Get Rating) shares fell 6.7% during trading on Thursday . The stock traded as low as $73.00 and last traded at $73.70. 38,919 shares traded hands during trading, a decline of 96% from the average session volume of 865,388 shares. The stock had previously closed at $79.02.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the company. Piper Sandler assumed coverage on Inari Medical in a research report on Tuesday, June 21st. They set an "overweight" rating and a $100.00 target price on the stock. Morgan Stanley dropped their target price on shares of Inari Medical from $108.00 to $93.00 and set an "overweight" rating on the stock in a research report on Friday, July 15th. BTIG Research decreased their price target on shares of Inari Medical from $130.00 to $100.00 and set a "buy" rating for the company in a report on Friday, June 24th. Canaccord Genuity Group upped their target price on Inari Medical from $92.00 to $94.00 and gave the company a "buy" rating in a research report on Friday. Finally, Canaccord Genuity Group boosted their price target on Inari Medical from $92.00 to $94.00 and gave the company a "buy" rating in a research note on Friday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $94.71.
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Inari Medical Stock Down 5.6 %
The business has a 50 day moving average price of $75.43 and a 200 day moving average price of $75.70.
Inari Medical (NASDAQ:NARI – Get Rating) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.04. The business had revenue of $92.74 million for the quarter, compared to analyst estimates of $88.04 million. Inari Medical had a negative return on equity of 4.60% and a negative net
margin of 4.47%. As a group, research analysts expect that Inari Medical, Inc. will post -0.67 EPS for the current fiscal year.
Insider Activity at Inari Medical
In other Inari Medical news, CEO William Hoffman sold 30,000 shares of the company's stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $71.99, for a total value of $2,159,700.00. Following the completion of the transaction, the chief executive officer now owns 548,899 shares in the company, valued at $39,515,239.01. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Inari Medical news, CEO William Hoffman sold 30,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $71.99, for a total value of $2,159,700.00. Following the sale, the chief executive officer now directly owns 548,899 shares of the company's stock, valued at $39,515,239.01. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Andrew Hykes sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the transaction, the chief operating officer now owns 130,991 shares in the company, valued at approximately $9,169,370. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,204 shares of company stock worth $11,677,586. 11.90% of the stock is owned by company insiders.
Institutional Trading of Inari Medical
A number of institutional investors and hedge funds have recently modified their holdings of NARI. Advisor Group Holdings Inc. boosted its holdings in Inari Medical by 43.2% in the 4th quarter. Advisor Group Holdings Inc. now owns 1,683 shares of the company's stock worth $153,000 after buying an additional 508 shares during the last quarter. Bank of America Corp DE increased its position in shares of Inari Medical by 4.0% during the fourth quarter. Bank of America Corp DE now owns 101,868 shares of the company's stock worth $9,297,000 after purchasing an additional 3,918 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Inari Medical by 88.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 222,218 shares of the company's stock worth $20,282,000 after purchasing an additional 104,266 shares in the last quarter. Teacher Retirement System of Texas raised its stake in Inari Medical by 22.8% in the 4th quarter. Teacher Retirement System of Texas now owns 3,851 shares of the company's stock valued at $351,000 after purchasing an additional 715 shares during the last quarter. Finally, TD Asset Management Inc. lifted its holdings in Inari Medical by 87.7% in the 4th quarter. TD Asset Management Inc. now owns 50,603 shares of the company's stock valued at $4,619,000 after purchasing an additional 23,640 shares in the last quarter. Hedge funds and other institutional investors own 84.11% of the company's stock.
Inari Medical Company Profile
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Inari Medical, Inc, a medical device company, develops, manufactures, markets, and sells devices for the interventional treatment of venous diseases in the United States. The company provides ClotTriever, a mechanical thrombectomy system, which is designed to core, capture, and remove large clots from large vessels, as well as for treatment of deep vein thrombosis; and FlowTriever, a large bore catheter-based aspiration and mechanical thrombectomy system, for treatment of pulmonary embolism.
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