Robert W. Baird Reaffirms Neutral Rating for Inari Medical (NASDAQ:NARI)

Inari Medical (NASDAQ:NARI)‘s stock had its “neutral” rating reissued by Robert W. Baird in a report issued on Tuesday,Benzinga reports. They currently have a $80.00 target price on the stock, down from their prior target price of $81.00. Robert W. Baird’s price objective would suggest a potential upside of 23.08% from the company’s previous close.

Other research analysts also recently issued reports about the company. Truist Financial upped their target price on Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Oppenheimer started coverage on shares of Inari Medical in a report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price objective on the stock. Piper Sandler lifted their target price on shares of Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Stifel Nicolaus initiated coverage on shares of Inari Medical in a research report on Tuesday, September 17th. They set a “hold” rating and a $50.00 price target for the company. Finally, Canaccord Genuity Group reiterated a “hold” rating and issued a $80.00 price objective (up from $74.00) on shares of Inari Medical in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Inari Medical currently has a consensus rating of “Hold” and an average target price of $63.70.

Inari Medical Stock Up 30.6 %

NASDAQ:NARI opened at $65.00 on Tuesday. Inari Medical has a 52 week low of $36.73 and a 52 week high of $65.94. The stock’s 50-day moving average price is $52.24 and its 200-day moving average price is $48.69. The stock has a market capitalization of $3.81 billion, a PE ratio of -48.15 and a beta of 0.97.

Insider Transactions at Inari Medical

In related news, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the transaction, the director now owns 601,233 shares in the company, valued at approximately $27,067,509.66. This trade represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $55.29, for a total value of $165,870.00. Following the completion of the sale, the chief executive officer now owns 439,310 shares of the company’s stock, valued at approximately $24,289,449.90. The trade was a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,000 shares of company stock worth $10,527,870 in the last ninety days. Insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

Several institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Inari Medical by 67.2% during the third quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock worth $49,000 after acquiring an additional 473 shares during the last quarter. KBC Group NV increased its position 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 during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Inari Medical by 39.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after acquiring an additional 522 shares during the period. Covestor Ltd lifted its holdings in shares of Inari Medical by 63.5% in the 3rd quarter. Covestor Ltd now owns 2,384 shares of the company’s stock worth $99,000 after acquiring an additional 926 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Inari Medical in the 2nd quarter worth approximately $104,000. 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.