Inari Medical, Inc. (NASDAQ:NARI) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Inari Medical, Inc. (NASDAQ:NARI) have earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $61.80.

A number of research analysts recently commented on the company. Leerink Partnrs upgraded Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. Leerink Partners started coverage on Inari Medical in a report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price target for the company. Canaccord Genuity Group boosted their price objective on shares of Inari Medical from $71.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Robert W. Baird increased their target price on shares of Inari Medical from $66.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, Oppenheimer initiated coverage on shares of Inari Medical in a research note on Tuesday. They issued an “outperform” rating and a $75.00 price target on the stock.

Insider Activity

In other Inari Medical news, Director William Hoffman sold 40,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.05, for a total value of $2,002,000.00. Following the sale, the director now directly owns 561,233 shares of the company’s stock, valued at approximately $28,089,711.65. This represents a 6.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total transaction of $150,000.00. Following the sale, the chief executive officer now directly owns 445,310 shares of the company’s stock, valued at approximately $22,265,500. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 203,000 shares of company stock worth $10,362,000. Corporate insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of NARI. Aigen Investment Management LP purchased a new position in shares of Inari Medical in the 3rd quarter valued at about $428,000. Vestal Point Capital LP increased its stake 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 purchasing an additional 1,200,000 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new position in Inari Medical in the second quarter valued at approximately $2,145,000. Dynamic Technology Lab Private Ltd acquired a new stake in Inari Medical during the third quarter worth approximately $1,397,000. Finally, Integral Health Asset Management LLC lifted its position in shares of Inari Medical by 100.0% during the 2nd quarter. Integral Health Asset Management LLC now owns 400,000 shares of the company’s stock worth $19,260,000 after buying an additional 200,000 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Inari Medical Price Performance

Shares of NARI stock opened at $54.41 on Friday. The company has a market capitalization of $3.19 billion, a PE ratio of -40.30 and a beta of 0.97. The firm’s 50-day moving average is $49.84 and its two-hundred day moving average is $48.13. Inari Medical has a 12 month low of $36.73 and a 12 month high of $66.61.

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.