On Jan. 04, Hoffman William divested U.S. $8,435,005 in shares of Inari Medical Inc.. The Pres, CEO sold 100,000 shares at a price per share of $84.35. The transaction decreased this specific insider’s holdings to 1,191,916 shares worth around $94.65 million at present.
Wells Fargo took its Inari Medical Inc. [NARI] rating to the equivalent of an Overweight from an Equal weight, and the price target to $79, in a research note dated December 15, 2020. That figure represents around a -0.52% premium from where the company’s shares closed on Wednesday. Other analysts also revised their coverage, with Wells Fargo’s analysts upgrading the shares from “an Equal weight” rating to “an Overweight” rating in a research note to investors issued in mid December. Meanwhile, BTIG Research had launched its coverage on NARI with “Buy”, in a research note produced for clients November 18, 2020. In addition, there was an upgrade from Morgan Stanley on October 29, 2020. The rater changed NARI from “an Equal-weight” to “an Overweight”.
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Inari Medical Inc. [NARI] Valuation Measures
Notably, Inari Medical Inc. [NARI] stock can be helpful for investors to consider historical price-sales ratio, more specifically, a 34.69 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 5.26.
NARI Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 77.53 level, and in case of violation of this particular level, it will cause more drop to 75.65 level. On the upper level, 82.85 is still the key resistance. The stock may increase to the subsequent resistance at 81.13. The Relative Strength Index (RSI) pinned on the 14-day chart is 56.73, implying a neutral technical stance while the MACD stands at 1.32, meaning price will increase in the next trading period. Percent R indicator moved to 45.26%, implying low price movement. Stochastic %K at 62.85% suggest holding the stock.
What is the short interest in Inari Medical Inc.?
Short interest in the Inari Medical Inc. stock has surged, increasing by 0.66 million shares to total 0.82 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 1.48 million, data from Yahoo Finance shows. The decrease of -79.73% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 4.58% of the overall float for the stock.
Inari Medical Inc.’s Biggest Shareholders: Who Owns Inari Medical Inc. [NARI]?
Filings by Longview Asset Management LLC showed that the firm now holds a total of 2,941,665 shares or roughly 6.04% of the outstanding NARI shares. This means their shares have reduced by -500,000 from the 2,941,665 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, AllianceBernstein LP updated stake is worth $92,420,357. Details in the latest 13F filings reveal that Perceptive Advisors LLC acquired their 21.91% stake valued at $58,605,895 while The Vanguard Group, Inc. added theirs at $55,916,655. During the last quarter, Perceptive Advisors LLC raised 152,500 of its shares in Inari Medical Inc. while The Vanguard Group, Inc. bought 300,192 shares. The Franklin Advisers, Inc.’s holdings currently number 763,088 shares at $60596818.08. According to the firm’s last 13F report, T. Rowe Price Associates, Inc. shares in the company at filing stood at 588,859 shares, roughly $40,672,491.
NARI Earnings Forecast For The Current Quarter
Inari Medical Inc. [NARI] is expected to report earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $38.5M and an earnings per share of $0 for Dec 2020. Looking further ahead, the company is expected to report revenue of $39.4M at an EPS of -$0.03 for Mar 2021. The estimates represent 35.00% and -157.10% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
What are analyst thoughts on Inari Medical Inc.?
Looking forward to the Inari Medical Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Inari Medical Inc. stock at $91.00 within the next 12 months, which represents almost 12.74 per cent growth from its previous closing price of $79.41. The highest analysts’ target for Inari Medical Inc. stock projections is $94.00 and the lowest one is $79.00. Still, 6 analysts sharing their consensus rating for NARI stock in 2021 agree that it is a Buy.