Robert W. Baird Cuts Inari Medical (NASDAQ:NARI) Price Target to $63.00

Inari Medical (NASDAQ:NARI) had its price objective decreased by investment analysts at Robert W. Baird from $65.00 to $63.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 20.90% from the stock’s previous close.

Several other research analysts also recently commented on the company. Piper Sandler decreased their target price on shares of Inari Medical from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Wells Fargo & Company dropped their target price on shares of Inari Medical from $100.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. William Blair initiated coverage on shares of Inari Medical in a research report on Thursday, July 25th. They set an “outperform” rating on the stock. Truist Financial increased their price objective on Inari Medical from $47.00 to $60.00 and gave the stock a “hold” rating in a report on Tuesday, July 16th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Inari Medical currently has an average rating of “Moderate Buy” and a consensus target price of $64.57.

Inari Medical Price Performance

NARI stock opened at $52.11 on Wednesday. Inari Medical has a one year low of $36.73 and a one year high of $71.85. The stock has a market cap of $3.03 billion, a PE ratio of -127.10 and a beta of 1.01. The firm has a 50 day simple moving average of $50.21 and a two-hundred day simple moving average of $48.79.

Inari Medical (NASDAQ:NARI) last released its earnings results on Tuesday, April 30th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.15). Inari Medical had a negative return on equity of 1.65% and a negative net margin of 4.54%. The firm had revenue of $143.19 million during the quarter, compared to the consensus estimate of $138.32 million. On average, research analysts expect that Inari Medical will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Mitch C. Hill sold 6,000 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $45.97, for a total transaction of $275,820.00. Following the transaction, the chief financial officer now directly owns 181,294 shares of the company’s stock, valued at approximately $8,334,085.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Mitch C. Hill sold 6,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $45.97, for a total transaction of $275,820.00. Following the completion of the sale, the chief financial officer now owns 181,294 shares of the company’s stock, valued at approximately $8,334,085.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $46.60, for a total transaction of $1,864,000.00. Following the completion of the transaction, the director now directly owns 925,359 shares in the company, valued at approximately $43,121,729.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 222,744 shares of company stock worth $11,494,500. 10.60% of the stock is owned by insiders.

Institutional Trading of Inari Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Inari Medical by 11.1% during the 1st quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock valued at $268,681,000 after purchasing an additional 561,562 shares during the period. Brown Advisory Inc. increased its holdings in Inari Medical by 17.6% in 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 last quarter. Bamco Inc. NY boosted its holdings in shares of Inari Medical by 27.4% during the 1st quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock valued at $37,288,000 after purchasing an additional 167,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Inari Medical by 7.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 596,007 shares of the company’s stock valued at $38,693,000 after purchasing an additional 41,555 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Inari Medical by 23.4% during the fourth quarter. Principal Financial Group Inc. now owns 567,266 shares of the company’s stock valued at $36,827,000 after purchasing an additional 107,622 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

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.