Inari Medical, Inc. (NASDAQ:NARI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Inari Medical, Inc. (NASDAQ:NARI) has earned an average rating of “Moderate Buy” from the twelve research firms that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $61.80.

A number of analysts have weighed in on the stock. Truist Financial raised their price objective on shares of Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Stifel Nicolaus initiated coverage on Inari Medical in a research report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price objective on the stock. Oppenheimer began coverage on Inari Medical in a report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price target on the stock. Canaccord Genuity Group increased their price objective on Inari Medical from $71.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research report on Tuesday, October 29th.

Inari Medical Trading Up 30.6 %

Shares of Inari Medical stock opened at $65.00 on Tuesday. Inari Medical has a 12 month low of $36.73 and a 12 month high of $65.94. The firm has a market capitalization of $3.81 billion, a P/E ratio of -48.15 and a beta of 0.97. The business has a fifty day simple moving average of $52.24 and a two-hundred day simple moving average of $48.69.

Insider Activity at Inari Medical

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were 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 directly owns 439,310 shares in the company, valued at approximately $24,289,449.90. The trade was a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William Hoffman sold 60,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $55.66, for a total value of $3,339,600.00. Following the completion of the sale, the director now directly owns 441,233 shares of the company’s stock, valued at approximately $24,559,028.78. This represents a 11.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 206,000 shares of company stock valued at $10,527,870. 10.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC purchased a new position in shares of Inari Medical during the 2nd quarter valued at approximately $421,000. Arizona State Retirement System boosted its holdings in Inari Medical by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock worth $703,000 after buying an additional 358 shares during the last quarter. Quest Partners LLC boosted its holdings in Inari Medical by 31,257.1% in the 2nd quarter. Quest Partners LLC now owns 2,195 shares of the company’s stock worth $106,000 after buying an additional 2,188 shares during the last quarter. American Century Companies Inc. increased its stake in Inari Medical by 26.8% during the 2nd quarter. American Century Companies Inc. now owns 980,917 shares of the company’s stock worth $47,231,000 after buying an additional 207,485 shares in the last quarter. Finally, Sofinnova Investments Inc. lifted its position in shares of Inari Medical by 1,425.4% in the second quarter. Sofinnova Investments Inc. now owns 155,838 shares of the company’s stock valued at $7,504,000 after acquiring an additional 145,622 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

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.