Oppenheimer Begins Coverage on Inari Medical (NASDAQ:NARI)

Research analysts at Oppenheimer initiated coverage on shares of Inari Medical (NASDAQ:NARI) in a report released on Tuesday, MarketBeat reports. The brokerage set an “outperform” rating and a $75.00 price target on the stock. Oppenheimer’s price objective suggests a potential upside of 36.29% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Piper Sandler boosted their target price on Inari Medical from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Leerink Partnrs upgraded shares of Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. Leerink Partners started coverage on shares of Inari Medical in a report on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Finally, Truist Financial raised their price objective on Inari Medical from $46.00 to $50.00 and gave the stock a “hold” rating in a research note on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $61.80.

Inari Medical Stock Down 2.0 %

Shares of Inari Medical stock opened at $55.03 on Tuesday. The business has a fifty day simple moving average of $49.30 and a 200 day simple moving average of $48.04. The stock has a market cap of $3.22 billion, a PE ratio of -40.76 and a beta of 0.97. Inari Medical has a 12 month low of $36.73 and a 12 month high of $67.10.

Insider Buying and Selling

In other news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction that occurred 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Hoffman sold 40,000 shares of the stock in a transaction 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 of the company’s stock, valued at $27,067,509.66. The trade was a 6.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 203,000 shares of company stock worth $10,362,000. 10.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Inari Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its stake in shares of Inari Medical by 83.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after buying an additional 435 shares during the last quarter. GAMMA Investing LLC raised its holdings 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 in the last quarter. KBC Group NV boosted its position in 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 purchasing an additional 498 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Inari Medical by 39.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after purchasing an additional 522 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Inari Medical during the 2nd quarter worth approximately $104,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.