BTIG Research Reaffirms “Neutral” Rating for Inari Medical (NASDAQ:NARI)

Inari Medical (NASDAQ:NARI)‘s stock had its “neutral” rating reiterated by equities research analysts at BTIG Research in a report released on Wednesday,Benzinga reports.

A number of other equities analysts have also recently commented on NARI. William Blair restated a “market perform” rating on shares of Inari Medical in a report on Tuesday. Stifel Nicolaus initiated coverage on Inari Medical in a research note on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price objective for the company. Canaccord Genuity Group restated a “hold” rating and issued a $80.00 price objective (up from $74.00) on shares of Inari Medical in a report on Tuesday. Baird R W downgraded shares of Inari Medical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Finally, Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. 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, Inari Medical currently has a consensus rating of “Hold” and an average target price of $68.00.

Inari Medical Stock Down 0.2 %

NASDAQ:NARI opened at $79.30 on Wednesday. Inari Medical has a 52 week low of $36.73 and a 52 week high of $79.69. The stock’s fifty day moving average is $53.49 and its two-hundred day moving average is $49.14. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of -58.74 and a beta of 0.97.

Insider Buying and Selling

In other Inari Medical news, Director William Hoffman sold 200,000 shares of Inari Medical stock in a transaction on Monday, January 6th. The shares were sold at an average price of $60.47, for a total value of $12,094,000.00. Following the transaction, the director now directly owns 238,987 shares in the company, valued at approximately $14,451,543.89. The trade was a 45.56 % 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, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were 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 directly owns 439,310 shares of the company’s stock, valued at $24,289,449.90. The trade was a 0.68 % 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 worth $22,621,870 in the last quarter. 10.60% of the stock is owned by insiders.

Institutional Trading of Inari Medical

A number of hedge funds 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 third quarter worth about $428,000. Vestal Point Capital LP boosted its holdings in Inari Medical by 342.9% in 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 in the last quarter. Lighthouse Investment Partners LLC acquired a new position in Inari Medical during the 2nd quarter worth approximately $2,145,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Inari Medical during the 3rd quarter worth approximately $1,397,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Inari Medical in the 3rd quarter valued at approximately $1,235,000. 90.98% of the stock is owned by institutional investors and hedge funds.

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.