Inari Medical’s (NARI) Hold Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their hold rating on shares of Inari Medical (NASDAQ:NARI) in a research note released on Tuesday, MarketBeat.com reports. Canaccord Genuity Group currently has a $80.00 price target on the stock, up from their prior price target of $74.00.

A number of other research analysts have also issued reports on NARI. Piper Sandler upped 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. Oppenheimer initiated coverage on Inari Medical in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 target price for the company. Robert W. Baird boosted their price target on Inari Medical from $66.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Truist Financial raised their price objective on Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Finally, Stifel Nicolaus began coverage on Inari Medical in a research report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 target price on the stock. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Inari Medical presently has a consensus rating of “Hold” and an average price target of $68.00.

Inari Medical Stock Down 0.2 %

NARI opened at $79.30 on Tuesday. The company has a market cap of $4.64 billion, a P/E ratio of -58.74 and a beta of 0.97. The firm’s 50-day moving average price is $53.49 and its 200-day moving average price is $49.14. Inari Medical has a 52-week low of $36.73 and a 52-week high of $79.69.

Insider Buying and Selling

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total value of $150,000.00. Following the sale, the chief executive officer now directly owns 445,310 shares of the company’s stock, valued at approximately $22,265,500. This trade represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Hoffman sold 200,000 shares of Inari Medical stock in a transaction on 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 directly owns 238,987 shares in the company, valued at $14,451,543.89. This represents a 45.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 406,000 shares of company stock valued at $22,621,870. Corporate insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in Inari Medical by 66.8% during the 4th quarter. GAMMA Investing LLC now owns 1,963 shares of the company’s stock worth $100,000 after buying an additional 786 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Inari Medical by 2.2% in the third quarter. Franklin Resources Inc. now owns 223,810 shares of the company’s stock worth $9,445,000 after acquiring an additional 4,899 shares during the last quarter. Barclays PLC increased its position in shares of Inari Medical by 9.7% during the third quarter. Barclays PLC now owns 288,079 shares of the company’s stock worth $11,881,000 after purchasing an additional 25,365 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in Inari Medical by 316.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 44,318 shares of the company’s stock valued at $1,828,000 after purchasing an additional 33,682 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in Inari Medical by 32.4% in the 3rd quarter. Jane Street Group LLC now owns 95,223 shares of the company’s stock valued at $3,927,000 after purchasing an additional 23,286 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

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.