Inari Medical (NASDAQ:NARI) Sets New 12-Month Low at $36.73

Inari Medical, Inc. (NASDAQ:NARI - Get Free Report)'s share price hit a new 52-week low during trading on Monday . The stock traded as low as $36.73 and last traded at $37.61, with a volume of 280794 shares changing hands. The stock had previously closed at $38.59.

Analysts Set New Price Targets

Several equities analysts recently commented on NARI shares. Truist Financial decreased their price objective on shares of 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 reiterated a "buy" rating and issued a $72.00 price target on shares of Inari Medical in a report on Wednesday, March 6th. Canaccord Genuity Group reiterated a "buy" rating and issued a $75.00 price target on shares of Inari Medical in a report on Friday, April 12th. Finally, Piper Sandler downgraded shares of Inari Medical from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $85.00 to $55.00 in a report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Inari Medical currently has a consensus rating of "Moderate Buy" and an average price target of $73.71.

Inari Medical Stock Performance

The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -1,264.33 and a beta of 0.84. The business's 50 day moving average price is $46.48 and its 200 day moving average price is $54.98.

Inari Medical (NASDAQ:NARI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.09). The firm 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%. Inari Medical's revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.11) EPS. Sell-side analysts anticipate that Inari Medical, Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Mitch C. Hill sold 6,000 shares of the business's stock in a transaction 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 sale, the chief financial officer now 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 SEC, which is available through this hyperlink. In related news, CFO Mitch C. Hill sold 6,000 shares of the business's stock in a transaction 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 sale, the chief financial officer now 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 SEC, which is available through this hyperlink. Also, Director William Hoffman sold 1,451 shares of the business's stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $40.00, for a total transaction of $58,040.00. Following the completion of 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. In the last quarter, insiders sold 47,451 shares of company stock valued at $1,949,000. 10.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Inari Medical

Several institutional investors and hedge funds have recently added to or reduced their stakes in NARI. Fifth Third Bancorp boosted its stake in Inari Medical by 54.3% during the 3rd quarter. Fifth Third Bancorp now owns 486 shares of the company's stock worth $32,000 after purchasing an additional 171 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Inari Medical by 27.4% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company's stock valued at $71,000 after acquiring an additional 236 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Inari Medical by 139.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,189 shares of the company's stock valued at $78,000 after acquiring an additional 693 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Inari Medical by 35.7% during the 3rd quarter. IFP Advisors Inc now owns 1,939 shares of the company's stock valued at $127,000 after acquiring an additional 510 shares during the last quarter. Finally, Handelsinvest Investeringsforvaltning acquired a new position in shares of Inari Medical during the 4th quarter valued at about $185,000. Institutional investors and hedge funds 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.