Analysts Set Inari Medical, Inc. (NASDAQ:NARI) Target Price at $58.89

Shares of Inari Medical, Inc. (NASDAQ:NARI) have been given a consensus rating of “Hold” by the eleven research firms that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $58.89.

Several brokerages have weighed in on NARI. Canaccord Genuity Group lifted their target price on Inari Medical from $71.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Stifel Nicolaus assumed coverage on shares of Inari Medical in a research report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price objective on the stock. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research report on Tuesday, October 29th. Leerink Partnrs upgraded shares of Inari Medical to a “hold” rating in a research note on Tuesday, September 3rd. Finally, Robert W. Baird boosted their price target on shares of Inari Medical from $66.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th.

Inari Medical Trading Down 1.3 %

Shares of NASDAQ NARI opened at $55.59 on Friday. The stock has a market cap of $3.25 billion, a P/E ratio of -41.18 and a beta of 0.97. Inari Medical has a twelve month low of $36.73 and a twelve month high of $67.13. The stock has a 50 day moving average of $48.70 and a two-hundred day moving average of $47.95.

Insider Transactions at Inari Medical

In related news, 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 transaction of $150,000.00. Following the sale, the chief executive officer now directly owns 445,310 shares in the company, valued at $22,265,500. The trade was a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Hoffman sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $51.16, for a total transaction of $3,069,600.00. Following the completion of the sale, the director now directly owns 501,233 shares of the company’s stock, valued at approximately $25,643,080.28. This represents a 10.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,000 shares of company stock worth $7,022,400. 10.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Inari Medical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in Inari Medical by 83.5% in the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after acquiring an additional 435 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Inari Medical by 67.2% in 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 during the last quarter. KBC Group NV raised its holdings in shares of 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 purchasing an additional 498 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Inari Medical by 39.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after purchasing an additional 522 shares during the last quarter. Finally, Covestor Ltd boosted its holdings 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 buying an additional 926 shares in the last quarter. 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.