Inari Medical, Inc. (NASDAQ:NARI) Given Average Recommendation of “Hold” by Brokerages

Inari Medical, Inc. (NASDAQ:NARI) has been assigned a consensus rating of “Hold” from the fourteen analysts that are currently covering the company, Marketbeat Ratings reports. Twelve research 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 analysts that have issued ratings on the stock in the last year is $68.00.

A number of equities research analysts have recently weighed in on NARI shares. Piper Sandler raised their price target on Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $80.00 price objective (up previously from $74.00) on shares of Inari Medical in a research report on Tuesday, January 7th. William Blair reissued a “market perform” rating on shares of Inari Medical in a research report on Tuesday, January 7th. Oppenheimer began coverage on shares of Inari Medical in a research note on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price target on the stock. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 price objective (down previously from $81.00) on shares of Inari Medical in a research note on Tuesday, January 7th.

Inari Medical Stock Performance

Shares of NASDAQ:NARI opened at $79.97 on Wednesday. Inari Medical has a 1 year low of $36.73 and a 1 year high of $79.99. The business has a fifty day simple moving average of $74.47 and a 200 day simple moving average of $56.87. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of -59.24 and a beta of 1.02.

Insider Buying and Selling

In other Inari Medical news, Director William Hoffman sold 60,000 shares of Inari Medical stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $55.66, for a total value of $3,339,600.00. Following the transaction, the director now directly owns 441,233 shares of the company’s stock, valued at $24,559,028.78. The trade was a 11.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $55.29, for a total value of $165,870.00. Following the completion of the sale, the chief executive officer now directly owns 439,310 shares of the company’s stock, valued at $24,289,449.90. This represents a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 263,000 shares of company stock valued at $15,599,470. Insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

Several hedge funds and other institutional investors have recently bought and sold shares 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 valued at $33,000 after buying an additional 356 shares during the period. R Squared Ltd acquired a new position in Inari Medical in the 4th quarter valued at approximately $45,000. Quarry LP bought a new stake in shares of Inari Medical in the 4th quarter worth approximately $57,000. Quadrant Capital Group LLC grew its holdings in shares of Inari Medical by 12.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,301 shares of the company’s stock worth $66,000 after purchasing an additional 143 shares in the last quarter. Finally, KBC Group NV increased its position in shares of 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. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.