Inari Medical, Inc. (NASDAQ:NARI) Receives Consensus Recommendation of “Hold” from Brokerages

Inari Medical, Inc. (NASDAQ:NARI) has earned a consensus rating of “Hold” from the fourteen brokerages that are currently covering the firm, Marketbeat.com reports. Twelve investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $68.00.

A number of equities research analysts have weighed in on NARI shares. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Piper Sandler upped their price target on Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. BTIG Research reiterated a “neutral” rating on shares of Inari Medical in a research note on Wednesday. Canaccord Genuity Group reissued a “hold” rating and issued a $80.00 target price (up from $74.00) on shares of Inari Medical in a research note on Tuesday, January 7th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 price target (down previously from $81.00) on shares of Inari Medical in a research report on Tuesday, January 7th.

Inari Medical Trading Down 0.0 %

Shares of NARI stock opened at $79.29 on Tuesday. The company’s fifty day moving average price is $54.72 and its 200-day moving average price is $49.60. The stock has a market cap of $4.64 billion, a PE ratio of -58.73 and a beta of 0.97. Inari Medical has a 12 month low of $36.73 and a 12 month high of $79.69.

Insiders Place Their Bets

In other news, CEO Andrew Hykes sold 3,000 shares of the business’s stock in a transaction 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 approximately $22,265,500. The trade was a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 601,233 shares in the company, valued at $27,067,509.66. This represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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 company insiders.

Institutional Investors Weigh In On Inari Medical

Several hedge funds have recently made changes to their positions in the company. Vestal Point Capital LP raised its holdings in shares of Inari Medical by 342.9% in the 3rd 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 in the last quarter. Point72 Asset Management L.P. grew its stake in Inari Medical by 113.3% in 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 raised its holdings in Inari Medical by 353.1% in the second quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock worth $48,595,000 after purchasing an additional 786,501 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Inari Medical by 63.2% during the third 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 increased its position in Inari Medical by 101.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company’s stock valued at $32,790,000 after buying an additional 400,198 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

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.