Inari Medical (NASDAQ:NARI) Receives “Hold” Rating from Canaccord Genuity Group

Canaccord Genuity Group reiterated their hold rating on shares of Inari Medical (NASDAQ:NARI) in a report published on Tuesday,Benzinga reports. Canaccord Genuity Group currently has a $80.00 price objective on the stock, up from their previous price objective of $74.00.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Truist Financial raised their price target on shares of Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Piper Sandler increased their price objective on shares of Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Robert W. Baird increased their price objective on shares of Inari Medical from $66.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, Oppenheimer started coverage on Inari Medical in a research report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price target for the company. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Inari Medical has a consensus rating of “Hold” and a consensus price target of $68.00.

Inari Medical Stock Up 22.2 %

Shares of Inari Medical stock opened at $79.45 on Tuesday. Inari Medical has a 52 week low of $36.73 and a 52 week high of $79.50. The business has a 50 day moving average price of $52.85 and a 200-day moving average price of $48.92. The company has a market cap of $4.65 billion, a PE ratio of -58.85 and a beta of 0.97.

Insider Buying and Selling

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total value 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. This represents a 0.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William Hoffman sold 60,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $55.66, for a total transaction of $3,339,600.00. Following the completion of the transaction, the director now directly owns 441,233 shares of the company’s stock, valued at approximately $24,559,028.78. The trade was a 11.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 206,000 shares of company stock valued at $10,527,870. Corporate 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 NARI. GAMMA Investing LLC lifted its holdings in 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 buying an additional 473 shares during the period. KBC Group NV raised 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 valued at $73,000 after acquiring an additional 498 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Inari Medical by 39.4% in the second 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 during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Inari Medical in the second quarter valued at $104,000. Finally, Quest Partners LLC increased its position in Inari Medical by 31,257.1% during the 2nd quarter. Quest Partners LLC now owns 2,195 shares of the company’s stock valued at $106,000 after purchasing an additional 2,188 shares during the period. Institutional investors own 90.98% of the company’s stock.

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.