Inari Medical (NASDAQ:NARI) Price Target Cut to $63.00

Inari Medical (NASDAQ:NARI) had its price objective reduced by Robert W. Baird from $65.00 to $63.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also commented on NARI. Wells Fargo & Company cut their price target on shares of Inari Medical from $100.00 to $84.00 and set an overweight rating on the stock in a research note on Wednesday, May 1st. Piper Sandler cut their price target on shares of Inari Medical from $55.00 to $50.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st. Canaccord Genuity Group dropped their price objective on shares of Inari Medical from $75.00 to $55.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. William Blair assumed coverage on shares of Inari Medical in a research note on Thursday, July 25th. They issued an outperform rating on the stock. Finally, Truist Financial lifted their price objective on shares of Inari Medical from $47.00 to $60.00 and gave the company a hold rating in a research note on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $60.17.

Inari Medical Trading Down 1.2 %

Inari Medical stock opened at $47.31 on Wednesday. The stock has a market cap of $2.75 billion, a P/E ratio of -115.39 and a beta of 1.01. The company has a fifty day simple moving average of $50.14 and a 200-day simple moving average of $48.69. Inari Medical has a 12-month low of $36.73 and a 12-month high of $71.85.

Insider Buying and Selling

In other Inari Medical news, Director William Hoffman sold 60,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $50.13, for a total value of $3,007,800.00. Following the sale, the director now owns 865,359 shares of the company’s stock, valued at $43,380,446.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Inari Medical news, Director William Hoffman sold 60,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $50.13, for a total value of $3,007,800.00. Following the sale, the director now owns 865,359 shares of the company’s stock, valued at $43,380,446.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $55.23, for a total transaction of $165,690.00. Following the completion of the sale, the chief executive officer now directly owns 455,252 shares in the company, valued at approximately $25,143,567.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 222,744 shares of company stock valued at $11,494,500. Corporate insiders own 10.60% of the company’s stock.

Hedge Funds Weigh In On Inari Medical

Institutional investors have recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Inari Medical in the first quarter valued at approximately $30,000. GAMMA Investing LLC raised its position in shares of Inari Medical by 164.7% in the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after buying an additional 438 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Inari Medical by 83.5% during the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after purchasing an additional 435 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Inari Medical by 27.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock worth $71,000 after purchasing an additional 236 shares during the last quarter. Finally, Covestor Ltd increased its position in Inari Medical by 30.2% during the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after purchasing an additional 376 shares during the last quarter. Institutional investors and hedge funds 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.