Inari Medical (NASDAQ:NARI – Get Rating) had its price objective upped by Canaccord Genuity Group from $92.00 to $94.00 in a report released on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's price target would indicate a potential upside of 35.06% from the company's previous close.
Several other equities analysts have also recently issued reports on the stock. BTIG Research decreased their target price on shares of Inari Medical from $130.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, June 24th. Truist Financial assumed coverage on shares of Inari Medical in a research note on Monday, September 12th. They issued a "hold" rating and a $87.00 target price for the company. Morgan Stanley decreased their target price on shares of Inari Medical from $108.00 to $93.00 and set an "overweight" rating for the company in a research note on Friday, July 15th. Finally, Piper Sandler assumed coverage on shares of Inari Medical in a research note on Tuesday, June 21st. They issued an "overweight" rating and a $100.00 target price for the company. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Inari Medical presently has an average rating of "Moderate Buy" and an average price target of $94.71.
Get Inari Medical alerts:Inari Medical Price Performance
NARI stock opened at $69.60 on Friday. The firm's fifty day simple moving average is $75.43 and its 200-day simple moving average is $75.56. The company has a market capitalization of $3.72 billion, a P/E ratio of -240.00 and a beta of 1.49. Inari Medical has a 12 month low of $50.50 and a 12 month high of $100.00.
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, beating the consensus estimate of ($0.23) by $0.04. The business had revenue of $92.74 million for the quarter, compared to the consensus estimate of $88.04 million. Inari Medical had a negative net margin of 4.47% and a negative return on equity of 4.60%. As a group, sell-side analysts forecast that Inari Medical will post -0.67 earnings per share for the current year.Insiders Place Their Bets
In other news, Director Donald B. Milder sold 21,000 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $80.44, for a total value of $1,689,240.00. Following the completion of the sale, the director now directly owns 3,423,614 shares in the company, valued at $275,395,510.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Donald B. Milder sold 7,000 shares of the company's stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $80.78, for a total value of $565,460.00. Following the completion of the sale, the director now owns 3,206,614 shares of the company's stock, valued at $259,030,278.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donald B. Milder sold 21,000 shares of the company's stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $80.44, for a total transaction of $1,689,240.00. Following the completion of the sale, the director now directly owns 3,423,614 shares of the company's stock, valued at approximately $275,395,510.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,204 shares of company stock worth $11,677,586. Company insiders own 11.90% of the company's stock.
Institutional Investors Weigh In On Inari Medical
A number of hedge funds have recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Inari Medical by 46.8% during the first quarter. Wellington Management Group LLP now owns 4,626,607 shares of the company's stock valued at $419,355,000 after acquiring an additional 1,475,313 shares during the last quarter. Vanguard Group Inc. raised its position in Inari Medical by 13.4% in the first quarter. Vanguard Group Inc. now owns 3,518,646 shares of the company's stock valued at $318,930,000 after purchasing an additional 416,425 shares during the period. Capital International Investors raised its position in Inari Medical by 0.8% in the first quarter. Capital International Investors now owns 2,838,045 shares of the company's stock valued at $257,240,000 after purchasing an additional 22,159 shares during the period. Alliancebernstein L.P. raised its position in Inari Medical by 17.2% in the fourth quarter. Alliancebernstein L.P. now owns 2,777,274 shares of the company's stock valued at $253,482,000 after purchasing an additional 407,400 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Inari Medical by 22.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,966,302 shares of the company's stock valued at $133,689,000 after purchasing an additional 356,309 shares during the period. 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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