Inari Medical (NASDAQ:NARI) Shares Gap Up to $37.34

Inari Medical, Inc. (NASDAQ:NARI)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $37.34, but opened at $42.00. Inari Medical shares last traded at $44.26, with a volume of 768,503 shares trading hands.

Analysts Set New Price Targets

Several research analysts have commented on NARI shares. Canaccord Genuity Group restated a “buy” rating and set a $75.00 price objective on shares of Inari Medical in a report on Friday, April 12th. Truist Financial cut their price target on Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Piper Sandler lowered their price objective on shares of Inari Medical from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Needham & Company LLC lowered their price target on shares of Inari Medical from $72.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Inari Medical currently has an average rating of “Moderate Buy” and an average price target of $70.86.

Inari Medical Price Performance

The company has a market cap of $2.48 billion, a PE ratio of -1,473.67 and a beta of 0.84. The stock’s 50-day moving average is $44.03 and its 200 day moving average is $53.96.

Inari Medical (NASDAQ:NARI) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). The business had revenue of $132.10 million for the quarter, compared to analyst estimates of $131.82 million. Inari Medical had a positive return on equity of 1.23% and a negative net margin of 0.33%. The business’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.11) earnings per share. On average, analysts expect that Inari Medical, Inc. will post -0.25 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Mitch C. Hill sold 6,000 shares of the stock in a transaction that occurred on 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 approximately $7,425,802.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Mitch C. Hill sold 6,000 shares of the company’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $40.96, for a total value of $245,760.00. Following the transaction, the chief financial officer now directly owns 181,294 shares of the company’s stock, valued at approximately $7,425,802.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William Hoffman sold 1,451 shares of Inari Medical stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $40.00, for a total value of $58,040.00. Following the sale, the director now directly owns 999,782 shares of the company’s stock, valued at approximately $39,991,280. 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. 10.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Inari Medical

A number of large investors have recently bought and sold shares of NARI. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Inari Medical by 99.7% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 45,621 shares of the company’s stock valued at $2,962,000 after acquiring an additional 22,780 shares during the last quarter. New York State Common Retirement Fund lifted its holdings 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 buying an additional 29,983 shares during the period. Bamco Inc. NY boosted its stake in shares of 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 buying an additional 86,000 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Inari Medical during the third quarter worth about $2,564,000. Finally, Strs Ohio grew its holdings in Inari Medical by 27.1% during the fourth quarter. Strs Ohio now owns 6,100 shares of the company’s stock worth $396,000 after acquiring an additional 1,300 shares during the period. 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.