Inari Medical (NASDAQ:NARI) Research Coverage Started at Oppenheimer

Oppenheimer initiated coverage on shares of Inari Medical (NASDAQ:NARI) in a report released on Tuesday, Marketbeat reports. The brokerage issued an outperform rating and a $75.00 price target on the stock.

A number of other brokerages have also issued reports on NARI. Truist Financial upped their target price on Inari Medical from $46.00 to $50.00 and gave the company a “hold” rating in a research report on Tuesday, October 29th. Leerink Partnrs upgraded shares of Inari Medical to a “hold” rating in a research note on Tuesday, September 3rd. Piper Sandler boosted their target price on shares of Inari Medical from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a research report on Tuesday, October 29th. Finally, Robert W. Baird boosted their price objective on Inari Medical from $66.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $61.80.

Inari Medical Stock Performance

NASDAQ:NARI opened at $54.41 on Tuesday. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of -40.30 and a beta of 0.97. Inari Medical has a one year low of $36.73 and a one year high of $66.61. The business’s 50-day simple moving average is $49.57 and its 200 day simple moving average is $48.08.

Insider Buying and Selling

In related news, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total value of $150,000.00. Following the sale, the chief executive officer now owns 445,310 shares of the company’s stock, valued at $22,265,500. This trade represents a 0.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Hoffman sold 40,000 shares of Inari Medical 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 completion of the sale, the director now owns 561,233 shares in the company, valued at approximately $28,089,711.65. This represents a 6.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 203,000 shares of company stock valued at $10,362,000. Insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

Several large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its position in Inari Medical by 83.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after acquiring an additional 435 shares during the period. GAMMA Investing LLC raised its stake in shares of Inari Medical by 67.2% during the third quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock valued at $49,000 after purchasing an additional 473 shares in the last quarter. KBC Group NV lifted its holdings in Inari Medical by 39.0% in the third 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 period. Benjamin F. Edwards & Company Inc. grew its position in Inari Medical by 39.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after buying an additional 522 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Inari Medical during the 2nd quarter valued at about $104,000. 90.98% of the stock is currently 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.