Robert W. Baird Reaffirms “Neutral” Rating for Inari Medical (NASDAQ:NARI)

Inari Medical (NASDAQ:NARI)‘s stock had its “neutral” rating reaffirmed by Robert W. Baird in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $80.00 price target on the stock, down from their prior price target of $81.00. Robert W. Baird’s price target suggests a potential upside of 0.88% from the company’s current price.

Several other brokerages also recently commented on NARI. Stifel Nicolaus began coverage on Inari Medical in a research note on Tuesday, September 17th. They set a “hold” rating and a $50.00 target price for the company. Oppenheimer initiated coverage on shares of Inari Medical in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 price objective for the company. Canaccord Genuity Group reaffirmed a “hold” rating and set a $80.00 target price (up previously from $74.00) on shares of Inari Medical in a research note on Tuesday. Truist Financial upped their price target on shares of Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $68.00.

Inari Medical Stock Performance

Inari Medical stock opened at $79.30 on Tuesday. Inari Medical has a 52 week low of $36.73 and a 52 week high of $79.69. The stock has a market capitalization of $4.64 billion, a P/E ratio of -58.74 and a beta of 0.97. The stock has a fifty day moving average of $52.85 and a 200-day moving average of $48.92.

Insider Activity

In related news, CEO Andrew Hykes sold 3,000 shares of the 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 transaction, the chief executive officer now directly owns 445,310 shares of the company’s stock, valued at $22,265,500. This represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.05, for a total transaction of $2,002,000.00. Following the transaction, the director now owns 561,233 shares in the company, valued at $28,089,711.65. This represents a 6.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 406,000 shares of company stock valued at $22,621,870 in the last ninety days. 10.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Inari Medical

Several institutional investors have recently bought and sold shares of NARI. GAMMA Investing LLC raised its position in Inari Medical by 67.2% in the third quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock worth $49,000 after acquiring an additional 473 shares during the period. KBC Group NV increased its stake in shares of Inari Medical by 39.0% during the 3rd quarter. KBC Group NV now owns 1,774 shares of the company’s stock worth $73,000 after purchasing an additional 498 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Inari Medical by 39.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after purchasing an additional 522 shares during the period. Covestor Ltd lifted its stake in Inari Medical by 63.5% in the third quarter. Covestor Ltd now owns 2,384 shares of the company’s stock valued at $99,000 after purchasing an additional 926 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Inari Medical during the second quarter valued at $104,000. 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.