Inari Medical (NASDAQ:NARI) Now Covered by Leerink Partners

Analysts at Leerink Partners assumed coverage on shares of Inari Medical (NASDAQ:NARI) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage set a “market perform” rating and a $47.00 price target on the stock. Leerink Partners’ target price would indicate a potential upside of 9.10% from the stock’s current price.

A number of other analysts have also commented on the company. Wells Fargo & Company cut their price target on Inari Medical from $84.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft started coverage on Inari Medical in a report on Friday, August 9th. They issued a “buy” rating and a $68.00 price objective for the company. Canaccord Genuity Group increased their price target on shares of Inari Medical from $55.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a report on Wednesday, July 31st. Finally, Robert W. Baird reduced their price objective on shares of Inari Medical from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Inari Medical presently has an average rating of “Moderate Buy” and an average price target of $59.50.

Inari Medical Stock Performance

Shares of NASDAQ NARI opened at $43.08 on Tuesday. Inari Medical has a 52-week low of $36.73 and a 52-week high of $69.40. The stock has a market cap of $2.51 billion, a P/E ratio of -105.07 and a beta of 1.01. The firm has a 50 day moving average price of $49.49 and a 200 day moving average price of $46.81.

Insider Transactions at Inari Medical

In related news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $50.08, for a total value of $150,240.00. Following the transaction, the chief executive officer now directly owns 462,474 shares of the company’s stock, valued at $23,160,697.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Inari Medical news, Director William Hoffman sold 60,000 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $56.74, for a total value of $3,404,400.00. Following the completion of the transaction, the director now directly owns 743,296 shares in the company, valued at $42,174,615.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $50.08, for a total value of $150,240.00. Following the completion of the transaction, the chief executive officer now directly owns 462,474 shares of the company’s stock, valued at approximately $23,160,697.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 117,780 shares of company stock valued at $6,393,074. Company insiders own 10.60% of the company’s stock.

Hedge Funds Weigh In On Inari Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in NARI. Maven Securities LTD increased its holdings in Inari Medical by 33.3% in the second quarter. Maven Securities LTD now owns 20,000 shares of the company’s stock worth $963,000 after purchasing an additional 5,000 shares in the last quarter. Algert Global LLC acquired a new position in shares of Inari Medical during the second quarter valued at about $1,537,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Inari Medical in the 2nd quarter valued at about $6,462,000. Lighthouse Investment Partners LLC acquired a new position in Inari Medical during the 2nd quarter worth approximately $2,145,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Inari Medical by 1,219.9% during the second quarter. The Manufacturers Life Insurance Company now owns 394,901 shares of the company’s stock valued at $19,014,000 after acquiring an additional 364,983 shares in the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

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.