Brokerages Set Inari Medical, Inc. (NASDAQ:NARI) Target Price at $68.00

Inari Medical, Inc. (NASDAQ:NARI) has been assigned a consensus rating of “Hold” from the fourteen ratings firms that are covering the stock, MarketBeat.com reports. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $68.00.

NARI has been the topic of several analyst reports. Piper Sandler raised their target price on Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Robert W. Baird reaffirmed a “neutral” rating and set a $80.00 price objective (down previously from $81.00) on shares of Inari Medical in a research note on Tuesday, January 7th. Truist Financial boosted their target price on shares of Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Baird R W lowered shares of Inari Medical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, BTIG Research reiterated a “neutral” rating on shares of Inari Medical in a research report on Wednesday, January 8th.

Inari Medical Stock Performance

Shares of NARI opened at $79.76 on Friday. The business’s 50-day moving average is $65.69 and its two-hundred day moving average is $53.26. The company has a market capitalization of $4.67 billion, a P/E ratio of -59.08 and a beta of 1.02. Inari Medical has a fifty-two week low of $36.73 and a fifty-two week high of $79.93.

Insider Activity at Inari Medical

In other Inari Medical news, Director William Hoffman sold 60,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $51.16, for a total transaction of $3,069,600.00. Following the completion of the transaction, the director now owns 501,233 shares of the company’s stock, valued at $25,643,080.28. This represents a 10.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the chief executive officer now directly owns 439,310 shares in the company, valued at $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 have sold 323,000 shares of company stock valued at $18,669,070. 10.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Inari Medical

A number of hedge funds have recently modified their holdings of the business. Aigen Investment Management LP purchased a new stake in Inari Medical during the 3rd quarter valued at about $428,000. Vestal Point Capital LP grew its position in shares of Inari Medical by 342.9% in the third quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock valued at $63,922,000 after purchasing an additional 1,200,000 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Inari Medical in the third quarter valued at approximately $1,397,000. Verition Fund Management LLC purchased a new position in Inari Medical during the third quarter worth approximately $1,235,000. Finally, Jane Street Group LLC boosted its stake in Inari Medical by 32.4% during the third quarter. Jane Street Group LLC now owns 95,223 shares of the company’s stock worth $3,927,000 after buying an additional 23,286 shares during the last quarter. 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.