Inari Medical Inc (NASDAQ: NARI) stock fell -1.71% on Friday to $57.98 against a previous-day closing price of $58.99. With 0.72 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.73 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $60.05 whereas the lowest price it dropped to was $57.69. The 52-week range on NARI shows that it touched its highest point at $81.23 and its lowest point at $47.81 during that stretch. It currently has a 1-year price target of $79.80. Beta for the stock currently stands at 0.94.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NARI was up-trending over the past week, with a rise of 8.84%, but this was up by 3.54% over a month. Three-month performance dropped to -10.41% while six-month performance fell -6.74%. The stock lost -29.88% in the past year, while it has lost -8.78% so far this year. A look at the trailing 12-month EPS for NARI yields -0.06 with Next year EPS estimates of 0.02. For the next quarter, that number is 0.04. This implies an EPS growth rate of 113.55% for this year and -70.18% for next year.
Float and Shares Shorts:
At present, 54.02 million NARI shares are outstanding with a float of 48.95 million shares on hand for trading. On Oct 30, 2023, short shares totaled 4.95 million, which was 8.60% higher than short shares on Sep 28, 2023. In addition to Mr. Andrew J. Hykes as the firm’s CEO, President & Director, Mr. Mitchell C. Hill serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 94.13% of NARI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 54.15% of NARI, in contrast to 34.67% held by mutual funds. Shares owned by individuals account for 32.68%. As the largest shareholder in NARI with 10.14% of the stake, BlackRock Fund Advisors holds 5,818,097 shares worth 5,818,097. A second-largest stockholder of NARI, Wellington Management Co. LLP, holds 5,096,136 shares, controlling over 8.89% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in NARI, holding 4,564,113 shares or 7.96% stake. With a 3.25% stake in NARI, the Hartford Mid Cap Fund is the largest stakeholder. A total of 1,863,709 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 2.75% of NARI stock, is the second-largest Mutual Fund holder. It holds 1,576,315 shares valued at 95.7 million. Vanguard Total Stock Market ETF holds 2.52% of the stake in NARI, owning 1,445,388 shares worth 87.75 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NARI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NARI analysts setting a high price target of $100.00 and a low target of $65.00, the average target price over the next 12 months is $79.80. Based on these targets, NARI could surge 72.47% to reach the target high and rise by 12.11% to reach the target low. Reaching the average price target will result in a growth of 37.63% from current levels.
Summary of Insider Activity:
Insiders traded NARI stock several times over the past three months with 1 Buys and 19 Sells. In these transactions, 6,500 shares were bought while 39,571 shares were sold. The number of buy transactions has increased to 35 while that of sell transactions has risen to 204 over the past year. The total number of shares bought during that period was 2,269,871 while 774,601 shares were sold.
