Inari Medical (NASDAQ:NARI) Cut to “Hold” at Baird R W

Baird R W cut shares of Inari Medical (NASDAQ:NARI) from a strong-buy rating to a hold rating in a research note released on Tuesday morning,Zacks.com reports.

Several other equities analysts have also weighed in on the stock. Piper Sandler upped their price objective on shares of Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday. Canaccord Genuity Group reiterated a “hold” rating and set a $80.00 price objective (up previously from $74.00) on shares of Inari Medical in a report on Tuesday. William Blair reiterated a “market perform” rating on shares of Inari Medical in a report on Tuesday. Wells Fargo & Company reiterated an “equal weight” rating and set a $80.00 price objective (up previously from $65.00) on shares of Inari Medical in a report on Tuesday. Finally, Oppenheimer assumed coverage on shares of Inari Medical in a report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price objective on the stock. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $68.00.

Inari Medical Trading Down 0.2 %

Shares of NARI opened at $79.30 on Tuesday. The stock has a market capitalization of $4.64 billion, a P/E ratio of -58.74 and a beta of 0.97. The firm’s fifty day simple moving average is $53.49 and its two-hundred day simple moving average is $49.14. Inari Medical has a 12 month low of $36.73 and a 12 month high of $79.69.

Insider Buying and Selling at Inari Medical

In other Inari Medical 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 completion of the sale, the chief executive officer now owns 445,310 shares in the company, valued at approximately $22,265,500. This trade represents a 0.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William Hoffman sold 200,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $60.47, for a total transaction of $12,094,000.00. Following the completion of the sale, the director now owns 238,987 shares of the company’s stock, valued at approximately $14,451,543.89. This trade represents a 45.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 406,000 shares of company stock worth $22,621,870. Insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in shares of Inari Medical by 66.8% during the 4th quarter. GAMMA Investing LLC now owns 1,963 shares of the company’s stock valued at $100,000 after acquiring an additional 786 shares during the period. Franklin Resources Inc. grew its position in shares of Inari Medical by 2.2% during the 3rd quarter. Franklin Resources Inc. now owns 223,810 shares of the company’s stock valued at $9,445,000 after acquiring an additional 4,899 shares during the period. Barclays PLC grew its position in shares of Inari Medical by 9.7% during the 3rd quarter. Barclays PLC now owns 288,079 shares of the company’s stock valued at $11,881,000 after acquiring an additional 25,365 shares during the period. Y Intercept Hong Kong Ltd grew its position in shares of Inari Medical by 316.7% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 44,318 shares of the company’s stock valued at $1,828,000 after acquiring an additional 33,682 shares during the period. Finally, Jane Street Group LLC grew its position in shares of Inari Medical by 32.4% during the 3rd quarter. Jane Street Group LLC now owns 95,223 shares of the company’s stock valued at $3,927,000 after acquiring an additional 23,286 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.