Needham & Company LLC Reaffirms Hold Rating for Inari Medical (NASDAQ:NARI)

Needham & Company LLC reiterated their hold rating on shares of Inari Medical (NASDAQ:NARI) in a report issued on Tuesday, Benzinga reports.

A number of other research analysts have also recently commented on the company. Robert W. Baird upped their price target on Inari Medical from $66.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday. Canaccord Genuity Group increased their target price on shares of Inari Medical from $55.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Leerink Partnrs upgraded shares of Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. Leerink Partners started coverage on Inari Medical in a research report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price objective on the stock. Finally, William Blair began coverage on Inari Medical in a research report on Thursday, July 25th. They set an “outperform” rating for the company. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Inari Medical has an average rating of “Hold” and an average price target of $58.89.

Inari Medical Price Performance

Shares of Inari Medical stock opened at $48.74 on Tuesday. The company’s 50 day moving average price is $43.56 and its two-hundred day moving average price is $45.99. Inari Medical has a fifty-two week low of $36.73 and a fifty-two week high of $67.13. The firm has a market capitalization of $2.85 billion, a P/E ratio of -36.10 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.25). Inari Medical had a negative return on equity of 10.09% and a negative net margin of 13.68%. The firm had revenue of $145.82 million for the quarter, compared to analyst estimates of $143.96 million. On average, analysts expect that Inari Medical will post -0.74 earnings per share for the current year.

Insider Transactions at Inari Medical

In related news, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total value of $150,000.00. Following the completion of the transaction, the chief executive officer now directly owns 445,310 shares of the company’s stock, valued at $22,265,500. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the completion of the transaction, the chief executive officer now directly owns 445,310 shares of the company’s stock, valued at $22,265,500. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Hoffman sold 40,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $45.83, for a total transaction of $1,833,200.00. Following the sale, the director now directly owns 643,296 shares in the company, valued at $29,482,255.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 131,000 shares of company stock valued at $6,161,340 in the last 90 days. Insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

Large investors have recently bought and sold shares of the company. Motley Fool Asset Management LLC boosted its stake in shares of Inari Medical by 46.2% in the first quarter. Motley Fool Asset Management LLC now owns 64,677 shares of the company’s stock worth $3,103,000 after acquiring an additional 20,438 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 worth $37,288,000 after purchasing an additional 167,000 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new stake in shares of Inari Medical in the second quarter valued at approximately $2,145,000. Integral Health Asset Management LLC increased its holdings in shares of Inari Medical by 100.0% during the 2nd quarter. Integral Health Asset Management LLC now owns 400,000 shares of the company’s stock worth $19,260,000 after buying an additional 200,000 shares during the last quarter. Finally, Maryland State Retirement & Pension System purchased a new stake in Inari Medical in the first quarter valued at $886,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

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.