Inari Medical’s (NARI) “Equal Weight” Rating Reaffirmed at Wells Fargo & Company

Wells Fargo & Company reaffirmed their equal weight rating on shares of Inari Medical (NASDAQ:NARIFree Report) in a report issued on Tuesday,Benzinga reports. The firm currently has a $80.00 price objective on the stock, up from their previous price objective of $65.00.

A number of other equities research analysts also recently issued reports on NARI. Truist Financial upped their price objective on shares of Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. William Blair reaffirmed a “market perform” rating on shares of Inari Medical in a report on Tuesday. Piper Sandler lifted their price target on Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday. Canaccord Genuity Group restated a “hold” rating and issued a $80.00 price objective (up previously from $74.00) on shares of Inari Medical in a research note on Tuesday. Finally, Robert W. Baird reiterated a “neutral” rating and set a $80.00 target price (down from $81.00) on shares of Inari Medical in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $68.00.

Check Out Our Latest Analysis on NARI

Inari Medical Price Performance

NARI opened at $79.45 on Tuesday. Inari Medical has a 1 year low of $36.73 and a 1 year high of $79.50. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of -58.85 and a beta of 0.97. The firm’s fifty day moving average price is $52.85 and its two-hundred day moving average price is $48.92.

Insider Activity

In other news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction 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 in the company, valued at approximately $24,289,449.90. The trade was a 0.68 % 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 the SEC website. Also, Director William Hoffman sold 40,000 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total value of $1,800,800.00. Following the sale, the director now directly owns 601,233 shares in the company, valued at $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 206,000 shares of company stock valued at $10,527,870 over the last quarter. Company insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

A number of institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth Equity Services LLC bought a new stake in Inari Medical during the 2nd quarter worth approximately $421,000. Arizona State Retirement System boosted its stake in Inari Medical by 2.5% during the second quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock valued at $703,000 after buying an additional 358 shares during the period. Quest Partners LLC boosted its stake in Inari Medical by 31,257.1% during the second quarter. Quest Partners LLC now owns 2,195 shares of the company’s stock valued at $106,000 after buying an additional 2,188 shares during the period. American Century Companies Inc. grew its position in Inari Medical by 26.8% during the second quarter. American Century Companies Inc. now owns 980,917 shares of the company’s stock worth $47,231,000 after buying an additional 207,485 shares in the last quarter. Finally, Sofinnova Investments Inc. increased its stake in Inari Medical by 1,425.4% in the 2nd quarter. Sofinnova Investments Inc. now owns 155,838 shares of the company’s stock worth $7,504,000 after acquiring an additional 145,622 shares during the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

About Inari Medical

(Get Free Report)

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.

Featured Articles

Analyst Recommendations for Inari Medical (NASDAQ:NARI)

Receive News & Ratings for Inari Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inari Medical and related companies with MarketBeat.com's FREE daily email newsletter.