Inari Medical, Inc. (NASDAQ:NARI – Get Free Report) fell 4.3% on Monday after Truist Financial lowered their price target on the stock from $61.00 to $52.00. Truist Financial currently has a hold rating on the stock. Inari Medical traded as low as $42.32 and last traded at $42.43. 422,255 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 950,161 shares. The stock had previously closed at $44.32.
A number of other analysts also recently commented on the stock. Canaccord Genuity Group dropped their target price on shares of Inari Medical from $79.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Piper Sandler downgraded shares of Inari Medical from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $85.00 to $55.00 in a research report on Thursday, February 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $72.00 target price on shares of Inari Medical in a research report on Wednesday, March 6th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $73.71.
Insider Buying and Selling at Inari Medical
In other Inari Medical news, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $41.13, for a total transaction of $1,645,200.00. Following the sale, the director now directly owns 1,003,296 shares of the company’s stock, valued at $41,265,564.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.60% of the company’s stock.
Institutional Investors Weigh In On Inari Medical
A number of large investors have recently bought and sold shares of NARI. Pinebridge Investments L.P. acquired a new stake in Inari Medical during the 2nd quarter worth $31,000. Bamco Inc. NY raised its position in Inari Medical by 18.2% in the 3rd quarter. Bamco Inc. NY now owns 557,937 shares of the company’s stock valued at $36,489,000 after buying an additional 86,000 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Inari Medical in the 3rd quarter valued at approximately $2,564,000. Fiera Capital Corp increased its position in shares of Inari Medical by 63.4% during the 3rd quarter. Fiera Capital Corp now owns 560,756 shares of the company’s stock worth $36,673,000 after purchasing an additional 217,606 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of Inari Medical by 19.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 47,390 shares of the company’s stock worth $3,099,000 after purchasing an additional 7,720 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors.
Inari Medical Stock Performance
The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -1,426.67 and a beta of 0.84. The company has a 50-day simple moving average of $52.66 and a two-hundred day simple moving average of $58.43.
Inari Medical (NASDAQ:NARI – Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.09). The firm had revenue of $132.10 million during the quarter, compared to the consensus estimate of $131.82 million. Inari Medical had a negative net margin of 0.33% and a positive return on equity of 1.23%. The business’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.11) earnings per share. As a group, sell-side analysts predict that Inari Medical, Inc. will post -0.39 earnings per share for the current fiscal year.
Inari Medical Company Profile
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.