Inari Medical (NASDAQ:NARI) Downgraded by Baird R W to “Hold”

Baird R W lowered shares of Inari Medical (NASDAQ:NARI) from a strong-buy rating to a hold rating in a report released on Tuesday,Zacks.com reports.

NARI has been the topic of a number of other research reports. Piper Sandler boosted their target price on Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday. Truist Financial boosted their price objective on shares of Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Stifel Nicolaus initiated coverage on shares of Inari Medical in a research note on Tuesday, September 17th. They issued a “hold” rating and a $50.00 target price for the company. Robert W. Baird reiterated a “neutral” rating and set a $80.00 price target (down from $81.00) on shares of Inari Medical in a research note on Tuesday. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $80.00 price objective (up previously from $65.00) on shares of Inari Medical in a research report on Tuesday. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Inari Medical currently has a consensus rating of “Hold” and an average target price of $68.00.

Inari Medical Stock Performance

Shares of NARI opened at $79.45 on Tuesday. Inari Medical has a fifty-two week low of $36.73 and a fifty-two week high of $79.50. The firm has a 50-day simple moving average of $52.85 and a 200-day simple moving average of $48.92. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of -58.85 and a beta of 0.97.

Insider Transactions at Inari Medical

In related news, Director William Hoffman sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $51.16, for a total value of $3,069,600.00. Following the completion of the sale, the director now directly owns 501,233 shares in the company, valued at approximately $25,643,080.28. The trade was a 10.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $55.29, for a total transaction of $165,870.00. Following the transaction, the chief executive officer now directly owns 439,310 shares of the company’s stock, valued at $24,289,449.90. This trade represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,000 shares of company stock valued at $10,527,870 over the last three months. 10.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Inari Medical

A number of institutional investors and hedge funds have recently bought and sold shares of NARI. Vestal Point Capital LP lifted its position in shares of Inari Medical by 342.9% during the third quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock worth $63,922,000 after purchasing an additional 1,200,000 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Inari Medical by 113.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock worth $71,324,000 after buying an additional 786,691 shares during the period. Armistice Capital LLC lifted its holdings in Inari Medical by 353.1% in the 2nd quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock worth $48,595,000 after buying an additional 786,501 shares in the last quarter. Jennison Associates LLC boosted its position in Inari Medical by 63.2% in the 3rd quarter. Jennison Associates LLC now owns 1,576,641 shares of the company’s stock valued at $65,021,000 after buying an additional 610,468 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Inari Medical by 101.3% during the third quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company’s stock valued at $32,790,000 after acquiring an additional 400,198 shares in the last quarter. Hedge funds and other 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.