Inari Medical, Inc. (NASDAQ:NARI) Given Consensus Rating of “Hold” by Analysts

Inari Medical, Inc. (NASDAQ:NARI) has earned an average recommendation of “Hold” from the fourteen research firms that are covering the stock, MarketBeat reports. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $68.00.

Several brokerages recently commented on NARI. BTIG Research reissued a “neutral” rating on shares of Inari Medical in a research report on Wednesday, January 8th. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Wells Fargo & Company restated an “equal weight” rating and set a $80.00 price objective (up previously from $65.00) on shares of Inari Medical in a research note on Tuesday, January 7th. Truist Financial raised their price objective on Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Finally, Piper Sandler raised their price objective on Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th.

Inari Medical Price Performance

NARI stock opened at $79.89 on Friday. The stock has a market capitalization of $4.68 billion, a P/E ratio of -59.18 and a beta of 1.02. The business has a 50-day moving average of $65.11 and a 200-day moving average of $53.07. Inari Medical has a fifty-two week low of $36.73 and a fifty-two week high of $79.93.

Insider Buying and Selling

In related news, Director William Hoffman sold 60,000 shares of Inari Medical stock in a transaction on Monday, December 16th. The shares were sold at an average price of $55.66, for a total value of $3,339,600.00. Following the transaction, the director now owns 441,233 shares in the company, valued at $24,559,028.78. This trade represents a 11.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $55.29, for a total transaction of $165,870.00. Following the completion of the transaction, the chief executive officer now owns 439,310 shares in the company, valued at $24,289,449.90. The trade was a 0.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 323,000 shares of company stock worth $18,669,070. Corporate insiders own 10.60% of the company’s stock.

Hedge Funds Weigh In On Inari Medical

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its stake in shares of Inari Medical by 128.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 634 shares of the company’s stock worth $33,000 after buying an additional 356 shares in the last quarter. R Squared Ltd bought a new position in Inari Medical during the fourth quarter valued at approximately $45,000. GAMMA Investing LLC lifted its position in Inari Medical by 67.2% during the third quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock valued at $49,000 after purchasing an additional 473 shares during the period. KBC Group NV lifted its position in Inari Medical by 39.0% during the third quarter. KBC Group NV now owns 1,774 shares of the company’s stock valued at $73,000 after purchasing an additional 498 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Inari Medical during the second quarter valued at approximately $104,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

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.