Inari Medical (NASDAQ:NARI) Sets New 12-Month High – Here’s What Happened

Inari Medical, Inc. (NASDAQ:NARI) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $79.99 and last traded at $79.98, with a volume of 1372 shares changing hands. The stock had previously closed at $79.93.

Analysts Set New Price Targets

Several brokerages have commented on NARI. William Blair reaffirmed a “market perform” rating on shares of Inari Medical in a research note on Tuesday, January 7th. Oppenheimer began coverage on Inari Medical in a report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 target price on the stock. BTIG Research restated a “neutral” rating on shares of Inari Medical in a report on Wednesday, January 8th. Truist Financial raised their price target on Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Finally, Baird R W lowered Inari Medical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $68.00.

Inari Medical Price Performance

The firm has a market cap of $4.68 billion, a P/E ratio of -59.24 and a beta of 1.02. The stock’s 50-day moving average price is $69.60 and its 200 day moving average price is $54.60.

Insiders Place Their Bets

In related news, CEO Andrew Hykes sold 3,000 shares of the business’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 transaction, the chief executive officer now directly owns 439,310 shares in the company, valued at approximately $24,289,449.90. The trade was a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Hoffman sold 60,000 shares of the 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 sale, the director now owns 441,233 shares of the company’s stock, valued at approximately $24,559,028.78. This represents a 11.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 263,000 shares of company stock valued at $15,599,470 in the last three months. 10.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Inari Medical

A number of large investors have recently added to or reduced their stakes in the business. Everence Capital Management Inc. acquired a new position in shares of Inari Medical in the third quarter valued at approximately $315,000. Values First Advisors Inc. bought a new stake in shares of Inari Medical during the 3rd quarter valued at $128,000. Asset Management One Co. Ltd. grew its holdings in shares of Inari Medical by 1.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 61,354 shares of the company’s stock worth $2,530,000 after purchasing an additional 962 shares in the last quarter. Financial Enhancement Group LLC acquired a new position in Inari Medical in the third quarter valued at about $1,155,000. Finally, Assetmark Inc. lifted its position in Inari Medical by 5.9% during the third quarter. Assetmark Inc. now owns 19,382 shares of the company’s stock worth $799,000 after purchasing an additional 1,076 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.