Inari Medical (NASDAQ:NARI) Stock Price Down 4.2% – Should You Sell?

Shares of Inari Medical, Inc. (NASDAQ:NARI) fell 4.2% during trading on Friday . The stock traded as low as $49.40 and last traded at $49.60. 412,108 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 614,661 shares. The stock had previously closed at $51.80.

Analyst Ratings Changes

NARI has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Oppenheimer started coverage on shares of Inari Medical in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 price objective for the company. Robert W. Baird raised their target price on Inari Medical from $66.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Truist Financial upped their price target on Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Finally, Stifel Nicolaus assumed coverage on Inari Medical in a report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price objective on the stock. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Inari Medical currently has a consensus rating of “Moderate Buy” and an average target price of $61.80.

Inari Medical Trading Down 3.9 %

The company has a fifty day moving average price of $51.80 and a two-hundred day moving average price of $48.53. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of -36.87 and a beta of 0.97.

Insiders Place Their Bets

In other Inari Medical news, Director William Hoffman sold 40,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total value of $1,800,800.00. Following the transaction, the director now directly owns 601,233 shares in the company, valued at $27,067,509.66. The trade was a 6.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through 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 transaction 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 approximately $24,289,449.90. This trade represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 206,000 shares of company stock valued at $10,527,870. Insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NARI. Jennison Associates LLC grew its holdings in shares of Inari Medical by 63.2% during the 3rd quarter. Jennison Associates LLC now owns 1,576,641 shares of the company’s stock worth $65,021,000 after purchasing an additional 610,468 shares during the period. Vestal Point Capital LP lifted its position in Inari Medical by 342.9% in the third quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock valued at $63,922,000 after buying an additional 1,200,000 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in Inari Medical by 113.3% during the second quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock worth $71,324,000 after buying an additional 786,691 shares during the period. Armistice Capital LLC increased its position in shares of Inari Medical by 353.1% during the second quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock valued at $48,595,000 after acquiring an additional 786,501 shares during the last quarter. Finally, Bamco Inc. NY raised its stake in shares of Inari Medical by 29.5% in the 3rd quarter. Bamco Inc. NY now owns 1,006,129 shares of the company’s stock valued at $41,493,000 after acquiring an additional 228,977 shares during the period. 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.