Inari Medical, Inc. (NASDAQ:NARI) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Inari Medical, Inc. (NASDAQ:NARI) have received an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $61.80.

A number of brokerages recently issued reports on NARI. Robert W. Baird raised their price objective on Inari Medical from $66.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Stifel Nicolaus assumed coverage on shares of Inari Medical in a research report on Tuesday, September 17th. They set a “hold” rating and a $50.00 price target for the company. Piper Sandler upped their price objective on shares of Inari Medical from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. 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. Finally, Truist Financial upped their price target on Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th.

Insider Buying and Selling at Inari Medical

In related news, 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 value of $165,870.00. Following the completion of the transaction, the chief executive officer now directly owns 439,310 shares of the company’s stock, valued at $24,289,449.90. This represents a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 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 have sold 206,000 shares of company stock valued at $10,527,870 in the last quarter. Corporate insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Arizona State Retirement System boosted its stake in Inari Medical by 2.5% in the second quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock valued at $703,000 after acquiring an additional 358 shares in the last quarter. GAMMA Investing LLC increased its position 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 buying an additional 473 shares during the period. KBC Group NV lifted its stake in Inari Medical by 39.0% in the third quarter. KBC Group NV now owns 1,774 shares of the company’s stock valued at $73,000 after buying an additional 498 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of 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 acquiring an additional 522 shares during the period. Finally, Cerity Partners LLC boosted its stake in Inari Medical by 2.8% during the 3rd quarter. Cerity Partners LLC now owns 24,056 shares of the company’s stock worth $992,000 after purchasing an additional 652 shares during the period. 90.98% of the stock is owned by hedge funds and other institutional investors.

Inari Medical Stock Performance

NARI opened at $65.00 on Tuesday. The business’s 50 day moving average price is $52.24 and its 200 day moving average price is $48.69. The stock has a market capitalization of $3.81 billion, a PE ratio of -48.15 and a beta of 0.97. Inari Medical has a one year low of $36.73 and a one year high of $65.94.

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.