Inari Medical (NASDAQ:NARI) Earns Market Perform Rating from William Blair

Inari Medical (NASDAQ:NARI)‘s stock had its “market perform” rating reissued by William Blair in a report issued on Tuesday, Marketbeat.com reports.

Several other equities analysts have also recently weighed in on NARI. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a research report on Tuesday, October 29th. Stifel Nicolaus initiated coverage on Inari Medical in a research report on Tuesday, September 17th. They set a “hold” rating and a $50.00 price target on the stock. Piper Sandler increased their price target on shares of Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday. Robert W. Baird reaffirmed a “neutral” rating and set a $80.00 price objective (down previously from $81.00) on shares of Inari Medical in a research note on Tuesday. Finally, Truist Financial increased their target price on shares of Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $68.00.

Inari Medical Trading Down 0.2 %

NARI opened at $79.30 on Tuesday. Inari Medical has a 12 month low of $36.73 and a 12 month high of $79.69. The company has a market cap of $4.64 billion, a PE ratio of -58.74 and a beta of 0.97. The company has a 50 day moving average of $52.85 and a 200 day moving average of $48.92.

Insiders Place Their Bets

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the transaction, the chief executive officer now directly owns 445,310 shares of the company’s stock, valued at approximately $22,265,500. This trade represents a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William Hoffman sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the completion of the sale, the director now owns 601,233 shares of the company’s stock, valued at approximately $27,067,509.66. The trade was a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 406,000 shares of company stock valued at $22,621,870 over the last 90 days. Insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NARI. Commonwealth Equity Services LLC purchased a new stake in Inari Medical during the 2nd quarter valued at about $421,000. Arizona State Retirement System boosted its stake in shares of Inari Medical by 2.5% during the second quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock valued at $703,000 after purchasing an additional 358 shares during the period. Quest Partners LLC boosted its stake in shares of Inari Medical by 31,257.1% during the second quarter. Quest Partners LLC now owns 2,195 shares of the company’s stock valued at $106,000 after purchasing an additional 2,188 shares during the period. American Century Companies Inc. grew its holdings in shares of Inari Medical by 26.8% in the second quarter. American Century Companies Inc. now owns 980,917 shares of the company’s stock worth $47,231,000 after purchasing an additional 207,485 shares during the last quarter. Finally, Sofinnova Investments Inc. increased its stake in shares of Inari Medical by 1,425.4% in the second quarter. Sofinnova Investments Inc. now owns 155,838 shares of the company’s stock worth $7,504,000 after buying an additional 145,622 shares during the period. 90.98% of the stock is owned by institutional investors.

About Inari Medical

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.