Inari Medical (NASDAQ:NARI) Now Covered by Analysts at Piper Sandler

Piper Sandler initiated coverage on shares of Inari Medical (NASDAQ:NARIGet Rating) in a report released on Tuesday morning, Marketbeat reports. The brokerage issued an overweight rating and a $100.00 price target on the stock.

Several other analysts also recently commented on NARI. SVB Leerink lifted their target price on shares of Inari Medical from $85.00 to $95.00 and gave the stock an outperform rating in a report on Thursday, February 24th. Bank of America began coverage on shares of Inari Medical in a report on Wednesday, March 23rd. They set a buy rating for the company. Morgan Stanley reduced their target price on shares of Inari Medical from $119.00 to $108.00 and set an overweight rating for the company in a report on Thursday, February 24th. Canaccord Genuity Group reduced their target price on shares of Inari Medical from $102.00 to $96.00 in a report on Monday, March 14th. Finally, Canaccord Genuity Group reduced their target price on shares of Inari Medical from $102.00 to $96.00 and set a buy rating for the company in a report on Monday, March 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $105.67.

Shares of NARI opened at $69.24 on Tuesday. The firm has a 50-day moving average of $68.63 and a 200-day moving average of $78.17. Inari Medical has a one year low of $50.50 and a one year high of $100.00. The company has a market cap of $3.68 billion, a PE ratio of -2,308.00 and a beta of 1.73.

Inari Medical (NASDAQ:NARIGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Inari Medical had a negative net margin of 0.25% and a negative return on equity of 0.27%. The company had revenue of $86.75 million during the quarter, compared to the consensus estimate of $83.61 million. During the same quarter last year, the firm posted $0.13 EPS. The company’s quarterly revenue was up 51.1% on a year-over-year basis. As a group, analysts expect that Inari Medical will post -0.83 earnings per share for the current year.

In other news, CEO William Hoffman sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 5th. The shares were sold at an average price of $90.25, for a total value of $2,707,500.00. Following the completion of the transaction, the chief executive officer now directly owns 550,307 shares in the company, valued at approximately $49,665,206.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas Tu sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 28th. The shares were sold at an average price of $90.00, for a total transaction of $180,000.00. The disclosure for this sale can be found here. Insiders sold a total of 126,500 shares of company stock valued at $9,611,980 in the last quarter. Corporate insiders own 11.90% of the company’s stock.

Several large investors have recently modified their holdings of NARI. Dimensional Fund Advisors LP raised its position in shares of Inari Medical by 3,635.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 117,952 shares of the company’s stock valued at $9,566,000 after buying an additional 114,794 shares in the last quarter. Dark Forest Capital Management LP grew its holdings in shares of Inari Medical by 50.1% during the 3rd quarter. Dark Forest Capital Management LP now owns 3,566 shares of the company’s stock valued at $289,000 after purchasing an additional 1,191 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Inari Medical by 14.0% during the 3rd quarter. Royal Bank of Canada now owns 21,186 shares of the company’s stock valued at $1,718,000 after purchasing an additional 2,606 shares during the last quarter. MML Investors Services LLC grew its holdings in shares of Inari Medical by 31.8% during the 3rd quarter. MML Investors Services LLC now owns 6,852 shares of the company’s stock valued at $556,000 after purchasing an additional 1,654 shares during the last quarter. Finally, Squarepoint Ops LLC grew its holdings in shares of Inari Medical by 74.0% during the 3rd quarter. Squarepoint Ops LLC now owns 22,512 shares of the company’s stock valued at $1,826,000 after purchasing an additional 9,574 shares during the last quarter. Institutional investors own 67.90% of the company’s stock.

Inari Medical Company Profile (Get Rating)

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.

Further Reading

Analyst Recommendations for Inari Medical (NASDAQ:NARI)

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