why Inari Medical Inc [NARI] is a Good Choice for Investors After New Price Target of $74.27

Inari Medical Inc [NASDAQ: NARI] closed the trading session at $47.98. The company report on March 25, 2024 at 6:15 PM that AppFolio Set to Join S&P MidCap 400; Inari Medical to Join S&P SmallCap 600.

AppFolio Inc. (NASD:APPF) will replace Inari Medical Inc. (NASD:NARI) in the S&P MidCap 400, and Inari Medical will replace Callon Petroleum Co. (NYSE:CPE) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, April 1. S&P 500 constituent APA Corp. (NASD:APA) is acquiring Callon Petroleum in a transaction expected to be completed on or about that date pending final conditions.

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Following is a summary of the changes that will take place prior to the open of trading on the effective date:.

The stocks have a year to date performance of -26.09 percent and weekly performance of 6.10 percent. The stock has been moved at -27.49 percent over the last six months. The stock has performed -17.65 percent around the most recent 30 days and changed -27.08 percent over the most recent 3-months.

If compared to the average trading volume of 994.22K shares, NARI reached to a volume of 10160382 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $74.27 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 February 29, 2024. 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 2.46, with the Price to Sales ratio for NARI stock in the period of the last 12 months amounting to 5.63. The Price to Book ratio for the last quarter was 5.96, with the Price to Cash per share for the same quarter was set at 2.00. Price to Free Cash Flow for NARI in the course of the last twelve months was 89.07 with Quick ratio for the last quarter at 2.52.

NARI stock trade performance evaluation

Inari Medical Inc [NARI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.10. With this latest performance, NARI shares dropped by -17.65% in over the last four-week period, additionally sinking by -27.49% over the last 6 months – not to mention a drop of -23.17% 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 52.44, with the RSI for the last a single of trading hit 60.38, and the three-weeks RSI is set at 48.11 for Inari Medical Inc [NARI]. The present Moving Average for the last 50 days of trading for this stock 51.67, while it was recorded at 45.64 for the last single week of trading, and 58.85 for the last 200 days.

Inari Medical Inc [NARI]: An insightful look at the core 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.

Earnings per share (EPS) analysis for Inari Medical Inc [NARI] stock

With the latest financial reports released by the company, Inari Medical Inc posted -0.04/share EPS, while the average EPS was predicted by analysts to be reported at -0.23/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 82.60%. 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]: Institutional Ownership

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%.