Inari Medical’s (NARI) “Neutral” Rating Reiterated at BTIG Research

BTIG Research reissued their neutral rating on shares of Inari Medical (NASDAQ:NARI) in a research note issued to investors on Wednesday, MarketBeat reports.

Several other research firms have also recently commented on NARI. Wells Fargo & Company restated an “equal weight” rating and set a $80.00 price target (up from $65.00) on shares of Inari Medical in a report on Tuesday. Baird R W downgraded Inari Medical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. William Blair reaffirmed a “market perform” rating on shares of Inari Medical in a research note on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Finally, Robert W. Baird restated a “neutral” rating and issued a $80.00 price objective (down previously from $81.00) on shares of Inari Medical in a report on Tuesday. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $68.00.

Inari Medical Stock Performance

Shares of NARI opened at $79.29 on Wednesday. The company has a market capitalization of $4.64 billion, a PE ratio of -58.73 and a beta of 0.97. The company’s 50 day moving average price is $54.11 and its 200 day moving average price is $49.35. Inari Medical has a 52 week low of $36.73 and a 52 week high of $79.69.

Insider Buying and Selling

In other Inari Medical news, Director William Hoffman sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $60.47, for a total value of $12,094,000.00. Following the sale, the director now owns 238,987 shares of the company’s stock, valued at $14,451,543.89. This trade represents a 45.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew Hykes sold 3,000 shares of Inari Medical 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 in the company, valued at approximately $24,289,449.90. This represents a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 406,000 shares of company stock valued at $22,621,870. Company insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

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