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

Inari Medical, Inc. (NASDAQ:NARI) has been given an average rating of “Hold” by the fourteen analysts that are currently covering the company, Marketbeat Ratings reports. Twelve research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $68.00.

A number of research analysts have commented on the stock. William Blair restated a “market perform” rating on shares of Inari Medical in a research note on Tuesday, January 7th. Piper Sandler lifted their price objective on shares of Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Baird R W lowered shares of Inari Medical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Finally, Truist Financial boosted their price target on shares of Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th.

Inari Medical Stock Performance

NASDAQ NARI opened at $79.97 on Wednesday. The firm has a market cap of $4.68 billion, a PE ratio of -59.24 and a beta of 1.02. Inari Medical has a one year low of $36.73 and a one year high of $79.99. The firm’s fifty day moving average is $72.43 and its two-hundred day moving average is $55.98.

Insiders Place Their Bets

In other Inari Medical news, Director William Hoffman sold 200,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $60.47, for a total transaction 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. This represents a 45.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $55.29, for a total transaction of $165,870.00. Following the transaction, the chief executive officer now owns 439,310 shares in the company, 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. Over the last three months, insiders have sold 263,000 shares of company stock worth $15,599,470. 10.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NARI. Aigen Investment Management LP purchased a new position in shares of Inari Medical during the third quarter valued at approximately $428,000. Vestal Point Capital LP lifted its stake in shares of Inari Medical by 342.9% during 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. Dynamic Technology Lab Private Ltd purchased a new position in shares of Inari Medical during the third quarter valued at approximately $1,397,000. Verition Fund Management LLC purchased a new position in shares of Inari Medical during the third quarter valued at approximately $1,235,000. Finally, Jane Street Group LLC lifted 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. 90.98% of the stock is currently 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.