Inari Medical’s (NARI) Neutral Rating Reaffirmed at BTIG Research

BTIG Research reissued their neutral rating on shares of Inari Medical (NASDAQ:NARI) in a research note published on Wednesday morning, Marketbeat reports.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus initiated coverage on shares of Inari Medical in a research report on Tuesday, September 17th. They set a “hold” rating and a $50.00 target price on the stock. Oppenheimer began coverage on Inari Medical in a report on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 price target on the stock. Canaccord Genuity Group reissued a “hold” rating and set a $80.00 price objective (up from $74.00) on shares of Inari Medical in a report on Tuesday. William Blair reiterated a “market perform” rating on shares of Inari Medical in a research report on Tuesday. Finally, Baird R W lowered shares of Inari Medical from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $68.00.

Inari Medical Price Performance

Shares of NARI opened at $79.29 on Wednesday. The business’s 50 day simple moving average is $54.11 and its 200-day simple moving average is $49.35. The company has a market capitalization of $4.64 billion, a P/E ratio of -58.73 and a beta of 0.97. Inari Medical has a one year low of $36.73 and a one year high of $79.69.

Insider Buying and Selling at Inari Medical

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

Institutional Investors Weigh In On Inari Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in NARI. GAMMA Investing LLC increased its holdings in Inari Medical by 67.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock worth $49,000 after purchasing an additional 473 shares in the last quarter. KBC Group NV grew its holdings 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 worth $73,000 after buying an additional 498 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake 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 valued at $89,000 after acquiring an additional 522 shares in the last quarter. Covestor Ltd boosted its position in Inari Medical by 63.5% during the 3rd quarter. Covestor Ltd now owns 2,384 shares of the company’s stock worth $99,000 after acquiring an additional 926 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Inari Medical during the 2nd quarter worth approximately $104,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.