Brokerages Set Inari Medical, Inc. (NASDAQ:NARI) PT at $58.89

Inari Medical, Inc. (NASDAQ:NARI) has received a consensus recommendation of “Moderate Buy” from the twelve analysts that are presently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $60.50.

A number of brokerages have weighed in on NARI. Leerink Partners began coverage on shares of Inari Medical in a research note on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 price target on the stock. Stifel Nicolaus assumed coverage on Inari Medical in a report on Tuesday, September 17th. They set a “hold” rating and a $50.00 target price for the company. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Canaccord Genuity Group increased their price objective on Inari Medical from $71.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, Piper Sandler lifted their price target on shares of Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th.

Inari Medical Trading Down 1.0 %

NARI stock opened at $56.16 on Friday. Inari Medical has a 1-year low of $36.73 and a 1-year high of $67.10. The firm has a market cap of $3.29 billion, a PE ratio of -41.60 and a beta of 0.97. The business’s 50-day moving average price is $49.03 and its two-hundred day moving average price is $47.99.

Insider Buying and Selling at Inari Medical

In other news, Director William Hoffman sold 60,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $51.16, for a total value of $3,069,600.00. Following the transaction, the director now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total transaction of $150,000.00. Following the sale, the chief executive officer now owns 445,310 shares of the company’s stock, valued at approximately $22,265,500. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 143,000 shares of company stock worth $7,022,400 over the last 90 days. Company insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

Several hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position in Inari Medical by 7.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock worth $234,000 after acquiring an additional 348 shares during the period. Arizona State Retirement System grew its holdings 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 in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Inari Medical by 83.5% in the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after purchasing an additional 435 shares during the period. GAMMA Investing LLC lifted its position in Inari Medical by 67.2% during the third quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock worth $49,000 after purchasing an additional 473 shares during the period. Finally, KBC Group NV increased its holdings in Inari Medical by 39.0% in the 3rd quarter. KBC Group NV now owns 1,774 shares of the company’s stock valued at $73,000 after buying an additional 498 shares during the period. 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.