Inari Medical (NASDAQ:NARI) Price Target Lowered to $84.00 at Wells Fargo & Company

Inari Medical (NASDAQ:NARI) had its price objective lowered by Wells Fargo & Company from $100.00 to $84.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts also recently issued reports on the company. Piper Sandler reduced their price objective on Inari Medical from $55.00 to $50.00 and set a neutral rating for the company in a research report on Wednesday. Truist Financial reduced their price target on 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 lowered their price target on Inari Medical from $72.00 to $57.00 and set a buy rating on the stock in a report on Wednesday. Finally, Canaccord Genuity Group reiterated a buy rating and issued a $75.00 target price on shares of Inari Medical in a research report on Friday, April 12th. Two investment analysts have rated the stock with a hold rating and five have given 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 $65.71.

Inari Medical Stock Performance

Shares of NARI opened at $42.03 on Wednesday. Inari Medical has a 12 month low of $36.73 and a 12 month high of $71.85. The stock has a fifty day moving average price of $43.12 and a 200 day moving average price of $53.65.

Inari Medical (NASDAQ:NARI) last announced 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). Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. The firm had revenue of $132.10 million for the quarter, compared to analyst estimates of $131.82 million. During the same period last year, the firm posted ($0.11) EPS. The business’s revenue was up 22.5% compared to the same quarter last year. On average, equities analysts forecast that Inari Medical will post -0.41 EPS for the current fiscal year.

Insider Transactions at Inari Medical

In other news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 1,003,296 shares of the company’s stock, valued at $41,265,564.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Inari Medical news, Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were 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 directly owns 1,003,296 shares in the company, valued at $41,265,564.48. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mitch C. Hill sold 6,000 shares of Inari Medical stock in a transaction on Friday, April 12th. The shares were sold at an average price of $40.96, for a total transaction of $245,760.00. Following the sale, the chief financial officer now directly owns 181,294 shares of the company’s stock, valued at approximately $7,425,802.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,000 shares of company stock valued at $3,568,058. Corporate insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

Institutional investors have recently added to or reduced their stakes in the business. Knights of Columbus Asset Advisors LLC increased its stake in shares of Inari Medical by 99.7% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 45,621 shares of the company’s stock worth $2,962,000 after purchasing an additional 22,780 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of Inari Medical by 10.7% in the 4th quarter. New York State Common Retirement Fund now owns 311,410 shares of the company’s stock valued at $20,217,000 after purchasing an additional 29,983 shares during the last quarter. Bamco Inc. NY boosted its holdings in Inari Medical by 18.2% in the third quarter. Bamco Inc. NY now owns 557,937 shares of the company’s stock worth $36,489,000 after purchasing an additional 86,000 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Inari Medical during the third quarter worth $2,564,000. Finally, Strs Ohio raised its holdings in Inari Medical by 27.1% during the fourth quarter. Strs Ohio now owns 6,100 shares of the company’s stock valued at $396,000 after buying an additional 1,300 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.