William Blair Reaffirms Market Perform Rating for Inari Medical (NASDAQ:NARI)

Inari Medical (NASDAQ:NARI)‘s stock had its “market perform” rating reaffirmed by research analysts at William Blair in a research note issued on Tuesday, MarketBeat.com reports.

Several other analysts also recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Piper Sandler raised their price objective on Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday. Robert W. Baird reaffirmed a “neutral” rating and set a $80.00 target price (down from $81.00) on shares of Inari Medical in a research report on Tuesday. Truist Financial lifted their price target on shares of Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Finally, Canaccord Genuity Group restated a “hold” rating and set a $80.00 price objective (up previously from $74.00) on shares of Inari Medical in a report on Tuesday. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $68.00.

Inari Medical Stock Down 0.2 %

Shares of NASDAQ NARI opened at $79.30 on Tuesday. Inari Medical has a 12-month low of $36.73 and a 12-month high of $79.69. The firm has a market cap of $4.64 billion, a PE ratio of -58.74 and a beta of 0.97. The company’s fifty day simple moving average is $52.85 and its 200 day simple moving average is $48.92.

Insider Activity at Inari Medical

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 439,310 shares in the company, valued at $24,289,449.90. This represents a 0.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Hoffman sold 200,000 shares of Inari Medical stock in a transaction 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 owns 238,987 shares in the company, valued at $14,451,543.89. The trade was a 45.56 % decrease in their ownership of the stock. 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 ninety days. Corporate insiders own 10.60% of the company’s stock.

Hedge Funds Weigh In On Inari Medical

Institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its stake in Inari Medical by 63.2% in the third quarter. Jennison Associates LLC now owns 1,576,641 shares of the company’s stock valued at $65,021,000 after acquiring an additional 610,468 shares during the last quarter. Vestal Point Capital LP raised its holdings in shares of Inari Medical by 342.9% in the 3rd quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock worth $63,922,000 after purchasing an additional 1,200,000 shares during the period. Point72 Asset Management L.P. lifted its stake in Inari Medical by 113.3% in the second quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock valued at $71,324,000 after purchasing an additional 786,691 shares during the last quarter. Armistice Capital LLC lifted its stake in Inari Medical by 353.1% in the second quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock valued at $48,595,000 after purchasing an additional 786,501 shares during the last quarter. Finally, Bamco Inc. NY grew its holdings in Inari Medical by 29.5% during the third quarter. Bamco Inc. NY now owns 1,006,129 shares of the company’s stock valued at $41,493,000 after purchasing an additional 228,977 shares during the period. Institutional investors 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.