Inari Medical Inc [NASDAQ: NARI] stock went on a downward path that fall over -20.84% on Thursday, amounting to a one-week price decrease of less than -19.23%. The company report on February 28, 2024 at 4:05 PM that Inari Medical Reports Fourth Quarter 2023 Financial Results.
Over the last 12 months, NARI stock dropped by -18.02%. The one-year Inari Medical Inc stock forecast points to a potential upside of 39.39. The average equity rating for NARI stock is currently 1.45, trading closer to a bullish pattern in the stock market.
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The market cap for the stock reached $2.66 billion, with 57.76 million shares outstanding and 49.16 million shares in the current float. Compared to the average trading volume of 643.96K shares, NARI stock reached a trading volume of 6327233 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Inari Medical Inc [NARI]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NARI shares is $76.09 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NARI stock is a recommendation set at 1.45. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Piper Sandler have made an estimate for Inari Medical Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on Mar-01-24. While these analysts kept the previous recommendation, Needham raised their target price to Buy. The new note on the price target was released on January 23, 2024, representing the official price target for Inari Medical Inc stock. Previously, the target price had yet another raise to $79, while Robert W. Baird analysts kept a Outperform rating on NARI stock.
The Average True Range (ATR) for Inari Medical Inc is set at 2.68, with the Price to Sales ratio for NARI stock in the period of the last 12 months amounting to 5.38. The Price to Book ratio for the last quarter was 5.73, with the Price to Cash per share for the same quarter was set at 2.02. Price to Free Cash Flow for NARI in the course of the last twelve months was 90.46 with Quick ratio for the last quarter at 2.52.
NARI Stock Performance Analysis:
Inari Medical Inc [NARI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.23. With this latest performance, NARI shares dropped by -19.10% in over the last four-week period, additionally sinking by -31.15% over the last 6 months – not to mention a drop of -18.02% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NARI stock in for the last two-week period is set at 23.05, with the RSI for the last a single of trading hit 17.12, and the three-weeks RSI is set at 28.26 for Inari Medical Inc [NARI]. The present Moving Average for the last 50 days of trading for this stock 59.45, while it was recorded at 55.22 for the last single week of trading, and 60.76 for the last 200 days.
Insight into Inari Medical Inc Fundamentals:
Inari Medical Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.52 and a Current Ratio set at 3.09.
NARI Stock EPS
With the latest financial reports released by the company, Inari Medical Inc posted -0.11/share EPS, while the average EPS was predicted by analysts to be reported at -0.17/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 35.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NARI.
Inari Medical Inc [NARI] Institutonal Ownership Details
The top three institutional holders of NARI stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NARI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NARI stock with ownership which is approximately 5.8325%.
