Piper Sandler Trims Inari Medical (NASDAQ:NARI) Target Price to $50.00

Inari Medical (NASDAQ:NARI) had its price objective dropped by research analysts at Piper Sandler from $55.00 to $50.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 19.08% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. Truist Financial dropped their price target on shares of Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a research report on Friday, March 22nd. Needham & Company LLC dropped their target price on Inari Medical from $72.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $75.00 price target on shares of Inari Medical in a research note on Friday, April 12th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Inari Medical presently has a consensus rating of “Moderate Buy” and an average price target of $65.71.

Inari Medical Trading Up 0.9 %

Inari Medical stock opened at $41.99 on Wednesday. Inari Medical has a 52 week low of $36.73 and a 52 week high of $71.85. The business’s 50-day simple moving average is $43.42 and its 200-day simple moving average is $53.79.

Inari Medical (NASDAQ:NARI) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). Inari Medical had a negative return on equity of 1.65% and a negative net margin of 4.54%. The business had revenue of $132.10 million for the quarter, compared to analyst estimates of $131.82 million. During the same quarter in the prior year, the firm earned ($0.11) EPS. The firm’s quarterly revenue was up 22.5% on a year-over-year basis. As a group, research analysts predict that Inari Medical will post -0.25 earnings per share for the current year.

Insider Transactions at Inari Medical

In other Inari Medical news, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction on Monday, March 18th. The stock was sold at an average price of $41.13, for a total value of $1,645,200.00. Following the completion of the transaction, the director now owns 1,003,296 shares in the company, valued at approximately $41,265,564.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Inari Medical news, CFO Mitch C. Hill sold 6,000 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $40.96, for a total value of $245,760.00. Following the completion of the transaction, the chief financial officer now directly owns 181,294 shares of the company’s stock, valued at $7,425,802.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William Hoffman sold 40,000 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were 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 in the company, valued at $41,265,564.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,451 shares of company stock valued at $1,949,000. Corporate insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NARI. Fifth Third Bancorp increased its stake in shares of Inari Medical by 54.3% in the 3rd quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock valued at $32,000 after buying an additional 171 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in Inari Medical by 27.4% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock valued at $71,000 after acquiring an additional 236 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Inari Medical by 139.7% in the third quarter. Nisa Investment Advisors LLC now owns 1,189 shares of the company’s stock valued at $78,000 after acquiring an additional 693 shares during the last quarter. Handelsinvest Investeringsforvaltning acquired a new stake in Inari Medical in the fourth quarter worth about $185,000. Finally, Clear Street Markets LLC bought a new stake in Inari Medical during the 4th quarter worth about $198,000. Institutional investors own 90.98% of the company’s stock.

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.