Inari Medical (NASDAQ:NARI) Trading Down 4.3%

Inari Medical, Inc. (NASDAQ:NARI - Get Free Report)'s share price dropped 4.3% on Wednesday . The company traded as low as $44.16 and last traded at $44.21. Approximately 91,152 shares traded hands during trading, a decline of 92% from the average daily volume of 1,140,167 shares. The stock had previously closed at $46.18.

Analysts Set New Price Targets

Several research firms have weighed in on NARI. Piper Sandler cut Inari Medical from an "overweight" rating to a "neutral" rating and cut their price target for the company from $85.00 to $55.00 in a report on Thursday, February 29th. Canaccord Genuity Group lowered their price target on shares of Inari Medical from $79.00 to $75.00 and set a "buy" rating for the company in a report on Thursday, February 29th. Needham & Company LLC reissued a "buy" rating and set a $72.00 price objective on shares of Inari Medical in a research note on Wednesday, March 6th. Finally, Truist Financial lowered their price objective on Inari Medical from $61.00 to $52.00 and set a "hold" rating for the company in a research note on Friday, March 22nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Inari Medical presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.71.

Inari Medical Stock Performance

The company has a market capitalization of $2.51 billion, a P/E ratio of -1,441.00 and a beta of 0.84. The firm's fifty day moving average is $50.80 and its 200 day moving average is $57.33.

Inari Medical (NASDAQ:NARI - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.09). Inari Medical had a negative net margin of 0.33% and a positive return on equity of 1.23%. The firm had revenue of $132.10 million for the quarter, compared to analysts' expectations of $131.82 million. During the same period in the previous year, the company posted ($0.11) earnings per share. The business's quarterly revenue was up 22.5% compared to the same quarter last year. On average, analysts forecast that Inari Medical, Inc. will post -0.39 EPS for the current year.

Insiders Place Their Bets

In other news, Director William Hoffman sold 40,000 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $41.13, for a total transaction of $1,645,200.00. Following the completion of the sale, the director now owns 1,003,296 shares in the company, valued at approximately $41,265,564.48. The sale was disclosed in a document filed 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 stock. Pinebridge Investments L.P. acquired a new stake in shares of Inari Medical during the second quarter worth about $31,000. Bamco Inc. NY boosted its holdings in shares of Inari Medical by 18.2% in the 3rd quarter. Bamco Inc. NY now owns 557,937 shares of the company's stock valued at $36,489,000 after acquiring an additional 86,000 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Inari Medical in the third quarter worth $2,564,000. Fiera Capital Corp raised its holdings in shares of Inari Medical by 63.4% during the third quarter. Fiera Capital Corp now owns 560,756 shares of the company's stock worth $36,673,000 after purchasing an additional 217,606 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in Inari Medical by 19.5% during the third quarter. Asset Management One Co. Ltd. now owns 47,390 shares of the company's stock valued at $3,099,000 after purchasing an additional 7,720 shares during the period. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.