Inari Medical (NASDAQ:NARI) Stock Price Up 4.4%

Inari Medical, Inc. (NASDAQ:NARI)’s stock price rose 4.4% during trading on Wednesday . The company traded as high as $39.23 and last traded at $38.75. Approximately 561,214 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 1,124,220 shares. The stock had previously closed at $37.11.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Piper Sandler downgraded Inari Medical from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $85.00 to $55.00 in a research report on Thursday, February 29th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $75.00 target price on shares of Inari Medical in a research note on Friday, April 12th. Truist Financial dropped their price objective on Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $72.00 price objective on shares of Inari Medical in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.71.

Inari Medical Stock Performance

The firm has a fifty day moving average price of $45.26 and a 200 day moving average price of $54.54. The stock has a market cap of $2.23 billion, a PE ratio of -1,280.67 and a beta of 0.84.

Inari Medical (NASDAQ:NARI) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.09). The business had revenue of $132.10 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.11) EPS. On average, equities research analysts forecast that Inari Medical, Inc. will post -0.39 earnings per share for the current year.

Insider Buying and Selling

In related news, Director William Hoffman sold 1,451 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $40.00, for a total value of $58,040.00. Following the completion of the transaction, the director now owns 999,782 shares in the company, valued at approximately $39,991,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Inari Medical news, CFO Mitch C. Hill sold 6,000 shares of Inari Medical stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $40.96, for a total transaction of $245,760.00. Following the completion of the transaction, the chief financial officer now owns 181,294 shares in the company, valued at approximately $7,425,802.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Hoffman sold 1,451 shares of Inari Medical stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.00, for a total value of $58,040.00. Following the transaction, the director now owns 999,782 shares of the company’s stock, valued at approximately $39,991,280. The disclosure for this sale can be found here. Insiders sold 47,451 shares of company stock worth $1,949,000 in the last 90 days. Insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

A number of institutional investors have recently modified their holdings of NARI. Norges Bank acquired a new stake in shares of Inari Medical during the 4th quarter valued at about $29,491,000. Vanguard Group Inc. grew its position in shares of Inari Medical by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 5,038,292 shares of the company’s stock valued at $327,086,000 after acquiring an additional 325,586 shares during the period. Principal Financial Group Inc. grew its position in shares of Inari Medical by 127.3% during the 3rd quarter. Principal Financial Group Inc. now owns 459,644 shares of the company’s stock valued at $30,061,000 after acquiring an additional 257,463 shares during the period. Brown Advisory Inc. grew its position in shares of Inari Medical by 17.6% during the 4th quarter. Brown Advisory Inc. now owns 1,702,113 shares of the company’s stock valued at $110,501,000 after acquiring an additional 255,182 shares during the period. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Inari Medical during the 3rd quarter valued at about $14,267,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.