Inari Medical (NASDAQ:NARI) Trading 4.3% Higher – Should You Buy?

Inari Medical, Inc. (NASDAQ:NARI) was up 4.3% during mid-day trading on Friday . The company traded as high as $51.42 and last traded at $51.38. Approximately 174,198 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 988,941 shares. The stock had previously closed at $49.24.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Robert W. Baird raised their price target on Inari Medical from $66.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Truist Financial raised their target price on Inari Medical from $46.00 to $50.00 and gave the company a “hold” rating in a report on Tuesday, October 29th. Stifel Nicolaus initiated coverage on shares of Inari Medical in a research note on Tuesday, September 17th. They set a “hold” rating and a $50.00 price target on the stock. William Blair started coverage on shares of Inari Medical in a research report on Thursday, July 25th. They set an “outperform” rating on the stock. Finally, Leerink Partnrs upgraded shares of Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Inari Medical currently has a consensus rating of “Hold” and an average price target of $58.89.

Inari Medical Price Performance

The stock has a market cap of $2.95 billion, a price-to-earnings ratio of -36.47 and a beta of 0.96. The business’s 50 day moving average is $45.09 and its 200 day moving average is $46.85.

Insider Transactions at Inari Medical

In related news, Director William Hoffman sold 40,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.83, for a total value of $1,833,200.00. Following the completion of the sale, the director now directly owns 643,296 shares of the company’s stock, valued at $29,482,255.68. The trade was a 5.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total value of $150,000.00. Following the transaction, the chief executive officer now directly owns 445,310 shares in the company, valued at approximately $22,265,500. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 126,000 shares of company stock valued at $5,921,390. 10.60% of the stock is currently owned by corporate insiders.

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. Swiss National Bank increased its holdings in shares of Inari Medical by 0.6% in the 1st quarter. Swiss National Bank now owns 102,300 shares of the company’s stock valued at $4,908,000 after acquiring an additional 600 shares during the period. ProShare Advisors LLC increased its stake in Inari Medical by 4.7% in the first quarter. ProShare Advisors LLC now owns 12,319 shares of the company’s stock valued at $591,000 after purchasing an additional 553 shares during the period. Nwam LLC raised its holdings in shares of Inari Medical by 44.0% in the first quarter. Nwam LLC now owns 31,935 shares of the company’s stock valued at $1,532,000 after buying an additional 9,755 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Inari Medical by 11.1% during the first quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock worth $268,681,000 after buying an additional 561,562 shares during the period. Finally, Ontario Teachers Pension Plan Board increased its position in Inari Medical by 80.7% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 80,180 shares of the company’s stock valued at $3,847,000 after acquiring an additional 35,807 shares during the period. Hedge funds and other 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.