Inari Medical, Inc. (NASDAQ:NARI - Get Free Report)'s share price hit a new 52-week low during trading on Monday . The company traded as low as $39.14 and last traded at $39.27, with a volume of 169261 shares changing hands. The stock had previously closed at $40.78.
Analyst Ratings Changes
A number of brokerages have recently commented on NARI. Truist Financial cut their target price on shares of Inari Medical from $61.00 to $52.00 and set a "hold" rating on the stock in a report on Friday, March 22nd. Piper Sandler cut shares of Inari Medical from an "overweight" rating to a "neutral" rating and cut their target price for the company from $85.00 to $55.00 in a report on Thursday, February 29th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $75.00 target price on shares of Inari Medical in a report on Friday. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 target price on shares of Inari Medical in a report on Wednesday, March 6th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.71.
Check Out Our Latest Stock Report on Inari Medical
Inari Medical Trading Down 3.2 %
The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of -1,316.33 and a beta of 0.84. The firm's 50 day simple moving average is $48.39 and its 200-day simple moving average is $55.94.
Inari Medical (NASDAQ:NARI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.09). Inari Medical had a positive return on equity of 1.23% and a negative net margin of 0.33%. The company had revenue of $132.10 million for the quarter, compared to analyst estimates of $131.82 million. During the same period last year, the company earned ($0.11) earnings per share. The business's revenue for the quarter was up 22.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Inari Medical, Inc. will post -0.39 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 shares were sold at an average price of $41.13, for a total transaction of $1,645,200.00. Following the transaction, the director now directly owns 1,003,296 shares of the company's stock, valued at approximately $41,265,564.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 10.60% of the company's stock.
Institutional Investors Weigh In On Inari Medical
Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Inari Medical by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 5,038,292 shares of the company's stock worth $327,086,000 after buying an additional 325,586 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Inari Medical by 55.8% in the 4th quarter. Voya Investment Management LLC now owns 773,306 shares of the company's stock worth $50,203,000 after buying an additional 276,835 shares in the last quarter. Weiss Multi Strategy Advisers LLC boosted its position in shares of Inari Medical by 8.3% in the 4th quarter. Weiss Multi Strategy Advisers LLC now owns 35,585 shares of the company's stock worth $2,310,000 after buying an additional 2,713 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Inari Medical by 4.1% in the 4th quarter. Nuveen Asset Management LLC now owns 604,177 shares of the company's stock worth $39,223,000 after buying an additional 23,604 shares in the last quarter. Finally, Penn Capital Management Company LLC purchased a new stake in shares of Inari Medical in the 4th quarter worth about $5,535,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.
Inari Medical Company Profile
(
Get Free Report)
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.
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