Inari Medical (NASDAQ:NARI) Earns “Neutral” Rating from BTIG Research

BTIG Research reissued their neutral rating on shares of Inari Medical (NASDAQ:NARI) in a research note published on Wednesday morning,Benzinga reports.

Several other equities research analysts have also weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Stifel Nicolaus started coverage on Inari Medical in a research note on Tuesday, September 17th. They set a “hold” rating and a $50.00 price objective for the company. Oppenheimer assumed coverage on shares of Inari Medical in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 target price on the stock. Piper Sandler increased their target price on shares of Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $80.00 price target (up from $65.00) on shares of Inari Medical in a research report on Tuesday. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $68.00.

Inari Medical Stock Down 0.2 %

NASDAQ NARI opened at $79.30 on Wednesday. Inari Medical has a twelve month low of $36.73 and a twelve month high of $79.69. The stock has a market cap of $4.64 billion, a P/E ratio of -58.74 and a beta of 0.97. The company’s 50-day simple moving average is $52.85 and its 200 day simple moving average is $48.92.

Insider Activity

In related news, CEO Andrew Hykes sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the completion of the sale, the chief executive officer now directly owns 445,310 shares of the company’s stock, valued at $22,265,500. The trade was a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the completion of the transaction, the director now directly owns 601,233 shares in the company, valued at approximately $27,067,509.66. The trade was a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 406,000 shares of company stock valued at $22,621,870 over the last three months. 10.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NARI. GAMMA Investing LLC increased its holdings in Inari Medical by 67.2% in the third quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock valued at $49,000 after purchasing an additional 473 shares during the last quarter. KBC Group NV increased its stake in shares of Inari Medical by 39.0% in the 3rd 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 position 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. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Inari Medical in the 2nd quarter valued at approximately $104,000. Finally, Quest Partners LLC boosted its stake in Inari Medical by 31,257.1% during the 2nd quarter. Quest Partners LLC now owns 2,195 shares of the company’s stock worth $106,000 after acquiring an additional 2,188 shares during the last quarter. Institutional investors and hedge funds 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.