Inari Medical (NASDAQ:NARI) Reaches New 12-Month High – Here’s What Happened

Inari Medical, Inc. (NASDAQ:NARI) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $79.76 and last traded at $79.74, with a volume of 1661192 shares traded. The stock had previously closed at $79.46.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NARI. William Blair reiterated a “market perform” rating on shares of Inari Medical in a research note on Tuesday, January 7th. Truist Financial lifted their price target on Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Baird R W lowered Inari Medical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Wells Fargo & Company restated an “equal weight” rating and set a $80.00 price objective (up from $65.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $68.00.

Inari Medical Stock Up 0.4 %

The firm has a market capitalization of $4.67 billion, a P/E ratio of -59.07 and a beta of 0.97. The business has a 50-day moving average price of $59.21 and a 200-day moving average price of $51.30.

Insider Activity at Inari Medical

In other news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.05, for a total transaction of $2,002,000.00. Following the transaction, the director now owns 561,233 shares of the company’s stock, valued at $28,089,711.65. This represents a 6.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were 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 $22,265,500. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 366,000 shares of company stock valued at $20,821,070 in the last 90 days. 10.60% of the stock is 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 the stock. Jennison Associates LLC boosted its position in shares of Inari Medical by 11.8% during the fourth quarter. Jennison Associates LLC now owns 1,763,258 shares of the company’s stock worth $90,014,000 after buying an additional 186,617 shares during the period. Vestal Point Capital LP boosted its position in Inari Medical by 342.9% during 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. Point72 Asset Management L.P. boosted its position in Inari Medical by 113.3% during the second quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock valued at $71,324,000 after purchasing an additional 786,691 shares during the last quarter. Armistice Capital LLC boosted its position in Inari Medical by 353.1% during the second quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock valued at $48,595,000 after purchasing an additional 786,501 shares during the last quarter. Finally, Bamco Inc. NY boosted its position in Inari Medical by 29.5% during the third quarter. Bamco Inc. NY now owns 1,006,129 shares of the company’s stock valued at $41,493,000 after purchasing an additional 228,977 shares during the last quarter. Institutional investors 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.