Inari Medical (NASDAQ:NARI) Research Coverage Started at William Blair

Posted by Defense World Staff on Jul 25th, 2024

Equities researchers at William Blair initiated coverage on shares of Inari Medical (NASDAQ:NARI – Get Free Report) in a report issued on Thursday, Briefing.com reports. The firm set an “outperform” rating on the stock.

Several other research analysts have also recently weighed in on NARI. Canaccord Genuity Group reduced their price target on shares of Inari Medical from $75.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Wells Fargo & Company reduced their price target on shares of Inari Medical from $100.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Truist Financial upped their price target on shares of Inari Medical from $47.00 to $60.00 and gave the company a “hold” rating in a report on Tuesday, July 16th. Piper Sandler reduced their price target on shares of Inari Medical from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Finally, Needham & Company LLC cut shares of Inari Medical from a “buy” rating to a “hold” rating in a report on Thursday, July 18th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $64.83.

Read Our Latest Stock Report on NARI

Inari Medical Price Performance

NARI opened at $55.39 on Thursday. The company has a market cap of $3.22 billion, a price-to-earnings ratio of -135.10 and a beta of 1.01. The firm has a 50 day simple moving average of $49.43 and a 200 day simple moving average of $49.01. Inari Medical has a fifty-two week low of $36.73 and a fifty-two week high of $71.85.

Inari Medical (NASDAQ:NARI – Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.15). The business had revenue of $143.19 million for the quarter, compared to the consensus estimate of $138.32 million. Inari Medical had a negative return on equity of 1.65% and a negative net margin of 4.54%. As a group, analysts expect that Inari Medical will post -0.41 EPS for the current year.

Insider Transactions at Inari Medical

In other news, Director Rebecca Chambers sold 964 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $45.39, for a total value of $43,755.96. Following the sale, the director now owns 9,944 shares of the company’s stock, valued at $451,358.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Inari Medical news, Director Rebecca Chambers sold 964 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $45.39, for a total transaction of $43,755.96. Following the sale, the director now directly owns 9,944 shares of the company’s stock, valued at $451,358.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $55.23, for a total transaction of $165,690.00. Following the sale, the chief executive officer now directly owns 455,252 shares in the company, valued at $25,143,567.96. The disclosure for this sale can be found here. Insiders have sold a total of 261,293 shares of company stock valued at $13,113,558 over the last 90 days. 10.60% of the stock is owned by corporate insiders.

Institutional Trading of Inari Medical

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Inari Medical by 11.1% during the first quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock worth $268,681,000 after acquiring an additional 561,562 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Inari Medical by 17.6% in the fourth quarter. Brown Advisory Inc. now owns 1,702,113 shares of the company’s stock valued at $110,501,000 after purchasing an additional 255,182 shares during the period. Bamco Inc. NY raised its position in shares of 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 during the period. Dimensional Fund Advisors LP raised its position in shares of Inari Medical by 7.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 596,007 shares of the company’s stock valued at $38,693,000 after purchasing an additional 41,555 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Inari Medical by 23.4% in the fourth quarter. Principal Financial Group Inc. now owns 567,266 shares of the company’s stock valued at $36,827,000 after purchasing an additional 107,622 shares during the period. 90.98% of the stock is owned by institutional investors.

About Inari Medical

(Get Free Report)

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.