Inari Medical, Inc. (NASDAQ:NARI) Receives $58.89 Consensus Target Price from Analysts

Inari Medical, Inc. (NASDAQ:NARI) has earned a consensus recommendation of “Hold” from the eleven brokerages that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $58.89.

Several brokerages have recently weighed in on NARI. Piper Sandler boosted their price objective on shares of Inari Medical from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research report on Tuesday, October 29th. Stifel Nicolaus began coverage on shares of Inari Medical in a research report on Tuesday, September 17th. They set a “hold” rating and a $50.00 price objective for the company. Truist Financial boosted their price objective on shares of Inari Medical from $46.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday, October 29th. Finally, Canaccord Genuity Group lifted their target price on shares of Inari Medical from $71.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, October 29th.

Inari Medical Stock Down 3.9 %

Shares of Inari Medical stock opened at $49.00 on Monday. Inari Medical has a 52-week low of $36.73 and a 52-week high of $67.13. The company has a 50 day moving average of $45.52 and a 200 day moving average of $47.19. The company has a market capitalization of $2.87 billion, a P/E ratio of -36.30 and a beta of 0.96.

Insider Buying and Selling at Inari Medical

In other news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.83, for a total transaction of $1,833,200.00. Following the transaction, the director now directly owns 643,296 shares of the company’s stock, valued at $29,482,255.68. This represents a 5.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 445,310 shares in the company, valued at approximately $22,265,500. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 186,000 shares of company stock valued at $8,990,990. 10.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Inari Medical

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Swiss National Bank boosted its position in shares of Inari Medical by 0.6% in the 1st quarter. Swiss National Bank now owns 102,300 shares of the company’s stock worth $4,908,000 after buying an additional 600 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Inari Medical by 4.7% in the 1st quarter. ProShare Advisors LLC now owns 12,319 shares of the company’s stock worth $591,000 after buying an additional 553 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Inari Medical by 11.1% in the 1st quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock worth $268,681,000 after buying an additional 561,562 shares in the last quarter. Covestor Ltd boosted its position in shares of Inari Medical by 30.2% in the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after buying an additional 376 shares in the last quarter. Finally, Seven Eight Capital LP purchased a new stake in shares of Inari Medical in the 1st quarter worth about $499,000. 90.98% of the stock is owned by institutional investors and hedge funds.

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.