Truist Financial Boosts Inari Medical (NASDAQ:NARI) Price Target to $63.00

Inari Medical (NASDAQ:NARI) had its target price boosted by analysts at Truist Financial from $50.00 to $63.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective suggests a potential upside of 15.79% from the company’s current price.

Other analysts have also recently issued research reports about the company. Robert W. Baird raised their target price on Inari Medical from $66.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Canaccord Genuity Group raised their price objective on Inari Medical from $71.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Leerink Partners assumed coverage on shares of Inari Medical in a research report on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 price target for the company. Finally, Leerink Partnrs raised shares of Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. 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 a consensus rating of “Moderate Buy” and a consensus price target of $61.80.

Inari Medical Stock Performance

Inari Medical stock opened at $54.41 on Wednesday. Inari Medical has a 52 week low of $36.73 and a 52 week high of $66.61. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of -40.30 and a beta of 0.97. The company has a 50 day moving average price of $49.57 and a 200 day moving average price of $48.08.

Insider Transactions at Inari Medical

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 445,310 shares of the company’s stock, valued at $22,265,500. This represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Hoffman sold 40,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total value 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 203,000 shares of company stock worth $10,362,000 in the last 90 days. 10.60% of the stock is owned by insiders.

Institutional Trading of Inari Medical

Large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its position in 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 acquiring an additional 435 shares during the last quarter. GAMMA Investing LLC grew its position in shares of 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 lifted its position in shares of Inari Medical by 39.0% during the 3rd quarter. KBC Group NV now owns 1,774 shares of the company’s stock worth $73,000 after purchasing an additional 498 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Inari Medical by 39.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after purchasing an additional 522 shares during the last quarter. Finally, Covestor Ltd boosted its stake in Inari Medical by 63.5% during the 3rd quarter. Covestor Ltd now owns 2,384 shares of the company’s stock valued at $99,000 after purchasing an additional 926 shares during the period. 90.98% of the stock is owned by institutional investors.

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.