Inari Medical (NASDAQ:NARI) Earns Neutral Rating from Robert W. Baird

Inari Medical (NASDAQ:NARI)‘s stock had its “neutral” rating reaffirmed by investment analysts at Robert W. Baird in a note issued to investors on Tuesday,Benzinga reports. They currently have a $80.00 price target on the stock, down from their prior price target of $81.00. Robert W. Baird’s price objective would suggest a potential upside of 0.88% from the stock’s previous close.

NARI has been the subject of several other reports. Stifel Nicolaus assumed coverage on shares of Inari Medical in a research note on Tuesday, September 17th. They set a “hold” rating and a $50.00 target price for the company. Oppenheimer began coverage on shares of Inari Medical in a research report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Truist Financial increased 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, Canaccord Genuity Group restated a “hold” rating and issued a $80.00 price target (up from $74.00) on shares of Inari Medical in a research report on Tuesday. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Inari Medical has a consensus rating of “Hold” and a consensus price target of $68.00.

Inari Medical Stock Down 0.2 %

NARI opened at $79.30 on Tuesday. The stock’s 50 day moving average price is $52.85 and its two-hundred day moving average price is $48.92. The firm has a market capitalization of $4.64 billion, a P/E ratio of -58.74 and a beta of 0.97. Inari Medical has a 12-month low of $36.73 and a 12-month high of $79.69.

Insider Transactions at Inari Medical

In other news, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $55.29, for a total transaction of $165,870.00. Following the sale, 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 SEC, which is available at this link. Also, Director William Hoffman sold 40,000 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the completion of the sale, the director now owns 601,233 shares of the company’s stock, valued at approximately $27,067,509.66. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 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 corporate insiders.

Hedge Funds Weigh In On Inari Medical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aigen Investment Management LP acquired a new position in shares of Inari Medical during the 3rd quarter worth approximately $428,000. Vestal Point Capital LP boosted its stake 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 buying an additional 1,200,000 shares during the period. Lighthouse Investment Partners LLC acquired a new stake in Inari Medical during the second quarter worth approximately $2,145,000. Dynamic Technology Lab Private Ltd bought a new position in Inari Medical during the 3rd quarter worth $1,397,000. Finally, Verition Fund Management LLC acquired a new position in Inari Medical in the 3rd quarter valued at $1,235,000. 90.98% of the stock is owned by institutional investors.

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.