Inari Medical (NARI) Expected to Announce Quarterly Earnings on Wednesday

Inari Medical (NASDAQ:NARI) is expected to be releasing its earnings data before the market opens on Wednesday, February 26th. Analysts expect the company to announce earnings of ($0.01) per share and revenue of $160.70 million for the quarter.

Inari Medical Price Performance

Inari Medical stock opened at $79.97 on Tuesday. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of -59.24 and a beta of 1.02. The firm has a 50-day moving average of $71.96 and a two-hundred day moving average of $55.76. Inari Medical has a 1 year low of $36.73 and a 1 year high of $79.99.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NARI. Truist Financial lifted their target price on Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $80.00 price objective (up from $74.00) on shares of Inari Medical in a research note on Tuesday, January 7th. Piper Sandler raised their target price on shares of Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 price target (down previously from $81.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Finally, Baird R W lowered shares of Inari Medical from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $68.00.

Insider Activity at Inari Medical

In other news, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $55.29, for a total value of $165,870.00. Following the completion of the transaction, the chief executive officer now directly owns 439,310 shares in the company, valued at $24,289,449.90. This trade represents a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William Hoffman sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $55.66, for a total value of $3,339,600.00. Following the completion of the sale, the director now owns 441,233 shares in the company, valued at approximately $24,559,028.78. This represents a 11.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 263,000 shares of company stock valued at $15,599,470 in the last three months. 10.60% of the stock is owned by insiders.

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.