Inari Medical (NASDAQ:NARI) Price Target Raised to $80.00

Inari Medical (NASDAQ:NARI) had its price target increased by Piper Sandler from $52.00 to $80.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

NARI has been the subject of a number of other reports. Stifel Nicolaus began coverage on shares of Inari Medical in a research note on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price target for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. 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 research note on Wednesday, December 18th. Canaccord Genuity Group reissued a “hold” rating and set a $80.00 target price (up from $74.00) on shares of Inari Medical in a research note on Tuesday. Finally, Oppenheimer assumed coverage on shares of Inari Medical in a research note on Tuesday, December 17th. They set an “outperform” rating and a $75.00 target price for the company. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $68.00.

Inari Medical Trading Down 0.2 %

Shares of NASDAQ:NARI opened at $79.30 on Tuesday. The company has a 50 day moving average of $53.49 and a 200-day moving average of $49.14. The firm has a market cap of $4.64 billion, a P/E ratio of -58.74 and a beta of 0.97. Inari Medical has a twelve month low of $36.73 and a twelve month high of $79.69.

Insider Activity

In other Inari Medical news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total value of $1,800,800.00. Following the transaction, the director now owns 601,233 shares in the company, valued at approximately $27,067,509.66. This represents a 6.24 % decrease in their position. 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 Friday, December 20th. The shares were sold at an average price of $55.29, for a total transaction of $165,870.00. Following the completion of the transaction, the chief executive officer now owns 439,310 shares in the company, valued at approximately $24,289,449.90. This represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 406,000 shares of company stock worth $22,621,870 over the last 90 days. 10.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NARI. Commonwealth Equity Services LLC acquired a new position in Inari Medical in the 2nd quarter valued at approximately $421,000. Arizona State Retirement System increased its stake 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 worth $703,000 after purchasing an additional 358 shares during the last quarter. Quest Partners LLC increased its stake in shares of Inari Medical by 31,257.1% during the 2nd quarter. Quest Partners LLC now owns 2,195 shares of the company’s stock worth $106,000 after purchasing an additional 2,188 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Inari Medical by 26.8% during the 2nd 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 during the last quarter. Finally, Sofinnova Investments Inc. increased its stake in shares of Inari Medical by 1,425.4% during the 2nd 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 last quarter. Institutional investors and hedge funds 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.