Inari Medical, Inc. (NASDAQ:NARI) Receives $61.80 Average Target Price from Brokerages

Shares of Inari Medical, Inc. (NASDAQ:NARI) have received an average rating of “Hold” from the fourteen ratings firms that are currently covering the company, MarketBeat reports. Twelve research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $68.00.

NARI has been the subject of a number of recent analyst reports. Piper Sandler lifted their target price on shares of Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday. Canaccord Genuity Group reiterated a “hold” rating and set a $80.00 price objective (up from $74.00) on shares of Inari Medical in a research note on Tuesday. Stifel Nicolaus began coverage on Inari Medical in a research report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 target price on the stock. Oppenheimer assumed coverage on Inari Medical in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 target price for the company. Finally, BTIG Research reiterated a “neutral” rating on shares of Inari Medical in a research note on Wednesday.

Insider Transactions at Inari Medical

In related news, Director William Hoffman sold 40,000 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the sale, the director now directly owns 601,233 shares of the company’s stock, valued at approximately $27,067,509.66. This represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $55.29, for a total transaction of $165,870.00. Following the sale, the chief executive officer now owns 439,310 shares in the company, valued at approximately $24,289,449.90. This represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 406,000 shares of company stock worth $22,621,870 over the last quarter. 10.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Inari Medical

A number of hedge funds have recently bought and sold shares of NARI. GAMMA Investing LLC increased its position in shares of Inari Medical by 67.2% in the third quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock valued at $49,000 after buying an additional 473 shares in the last quarter. KBC Group NV increased its holdings in Inari Medical by 39.0% in the 3rd quarter. KBC Group NV now owns 1,774 shares of the company’s stock worth $73,000 after acquiring an additional 498 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Inari Medical by 39.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after acquiring an additional 522 shares in the last quarter. Covestor Ltd raised its position in Inari Medical by 63.5% during the third quarter. Covestor Ltd now owns 2,384 shares of the company’s stock worth $99,000 after acquiring an additional 926 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Inari Medical during the second quarter valued at $104,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Inari Medical Stock Performance

Shares of NASDAQ NARI opened at $79.30 on Tuesday. Inari Medical has a fifty-two week low of $36.73 and a fifty-two week 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 business has a 50-day simple moving average of $53.49 and a two-hundred day simple moving average of $49.14.

Inari Medical Company Profile

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.