Inari Medical, Inc. (NASDAQ:NARI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Inari Medical, Inc. (NASDAQ:NARI) have earned a consensus rating of “Hold” from the fourteen research firms that are covering the firm, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $68.00.

NARI has been the topic of a number of recent research reports. BTIG Research reissued a “neutral” rating on shares of Inari Medical in a report on Wednesday, January 8th. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research report on Tuesday, October 29th. William Blair reaffirmed a “market perform” rating on shares of Inari Medical in a report on Tuesday, January 7th. Piper Sandler boosted their price target 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. Finally, Oppenheimer initiated coverage on shares of Inari Medical in a report on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 price target on the stock.

Inari Medical Price Performance

NASDAQ:NARI opened at $79.67 on Friday. The company has a market cap of $4.66 billion, a P/E ratio of -59.01 and a beta of 0.97. The stock’s fifty day moving average price is $63.35 and its two-hundred day moving average price is $52.61. Inari Medical has a 1 year low of $36.73 and a 1 year high of $79.76.

Insider Buying and Selling

In other news, CEO Andrew Hykes sold 3,000 shares of the 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 completion of the sale, the chief executive officer now owns 439,310 shares of the company’s stock, valued at approximately $24,289,449.90. This represents a 0.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William Hoffman sold 200,000 shares of the firm’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 transaction of $12,094,000.00. Following the completion of the transaction, the director now 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. Insiders sold 323,000 shares of company stock worth $18,669,070 in the last quarter. 10.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Inari Medical

Several institutional investors have recently added to or reduced their stakes in NARI. Aigen Investment Management LP bought a new position in shares of Inari Medical during the third quarter valued at about $428,000. Vestal Point Capital LP increased its holdings in Inari Medical by 342.9% during the 3rd quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock valued at $63,922,000 after purchasing an additional 1,200,000 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Inari Medical during the 3rd quarter valued at approximately $1,397,000. Verition Fund Management LLC purchased a new stake in Inari Medical in the 3rd quarter worth approximately $1,235,000. Finally, Jane Street Group LLC increased its stake in shares of Inari Medical by 32.4% during the third quarter. Jane Street Group LLC now owns 95,223 shares of the company’s stock valued at $3,927,000 after buying an additional 23,286 shares during the period. Hedge funds and other 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.