Brokerages Set Inari Medical, Inc. (NASDAQ:NARI) Price Target at $61.80

Inari Medical, Inc. (NASDAQ:NARI) has been assigned a consensus rating of “Hold” from the fourteen ratings firms that are presently covering the firm, MarketBeat.com reports. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $68.00.

Several research analysts have issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research report on Tuesday, October 29th. Robert W. Baird reissued a “neutral” rating and issued a $80.00 price target (down from $81.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Piper Sandler boosted their price objective on shares of Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Baird R W downgraded shares of Inari Medical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, William Blair restated a “market perform” rating on shares of Inari Medical in a report on Tuesday, January 7th.

Inari Medical Stock Performance

Shares of NASDAQ NARI opened at $79.34 on Tuesday. The stock has a fifty day moving average price of $54.72 and a two-hundred day moving average price of $49.63. The firm has a market cap of $4.64 billion, a P/E ratio of -58.77 and a beta of 0.97. Inari Medical has a 1 year low of $36.73 and a 1 year high of $79.69.

Insiders Place Their Bets

In related news, CEO Andrew Hykes sold 3,000 shares of the business’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 completion of the sale, the chief executive officer now directly owns 445,310 shares in the company, valued at approximately $22,265,500. The trade was a 0.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William Hoffman sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $60.47, for a total value of $12,094,000.00. Following the sale, the director now directly owns 238,987 shares of the company’s stock, valued at $14,451,543.89. The trade was a 45.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 406,000 shares of company stock valued at $22,621,870 over the last three months. 10.60% of the stock is currently owned by insiders.

Institutional Trading of Inari Medical

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its stake in Inari Medical by 66.8% in the 4th quarter. GAMMA Investing LLC now owns 1,963 shares of the company’s stock valued at $100,000 after buying an additional 786 shares during the last quarter. Franklin Resources Inc. grew its position 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 valued at $9,445,000 after purchasing an additional 4,899 shares during the last quarter. Barclays PLC increased its stake in shares of Inari Medical by 9.7% in 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 during the period. Y Intercept Hong Kong Ltd lifted 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 worth $1,828,000 after purchasing an additional 33,682 shares during the last quarter. Finally, Jane Street Group LLC lifted 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 worth $3,927,000 after purchasing 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.