Inari Medical (NASDAQ:NARI) Now Covered by Oppenheimer

Oppenheimer began coverage on shares of Inari Medical (NASDAQ:NARI) in a research report released on Tuesday morning, Marketbeat.com reports. The firm issued an outperform rating and a $75.00 price objective on the stock.

NARI has been the subject of several other reports. Leerink Partners assumed coverage on shares of Inari Medical in a research note on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 target price for the company. Stifel Nicolaus began coverage on Inari Medical in a research report on Tuesday, September 17th. They set a “hold” rating and a $50.00 price objective for the company. Robert W. Baird lifted their target price on Inari Medical from $66.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Finally, Canaccord Genuity Group increased their price target on Inari Medical from $71.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $61.80.

Inari Medical Stock Down 1.1 %

NASDAQ:NARI opened at $54.41 on Tuesday. Inari Medical has a 52-week low of $36.73 and a 52-week high of $66.61. The firm has a market cap of $3.19 billion, a P/E ratio of -40.30 and a beta of 0.97. The business’s 50-day moving average price is $49.57 and its 200 day moving average price is $48.08.

Insider Activity

In other news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total value of $1,800,800.00. Following the transaction, the director now directly owns 601,233 shares of the company’s stock, valued at approximately $27,067,509.66. This represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total value of $150,000.00. Following the sale, the chief executive officer now directly owns 445,310 shares of the company’s stock, valued at approximately $22,265,500. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 203,000 shares of company stock worth $10,362,000 in the last 90 days. Company insiders own 10.60% of the company’s stock.

Hedge Funds Weigh In On Inari Medical

A number of hedge funds have recently added to or reduced their stakes in NARI. Vestal Point Capital LP lifted its stake in 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 acquiring an additional 1,200,000 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Inari Medical by 113.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock valued at $71,324,000 after purchasing an additional 786,691 shares in the last quarter. Armistice Capital LLC lifted its stake in shares of Inari Medical by 353.1% in the 2nd quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock valued at $48,595,000 after purchasing an additional 786,501 shares during the last quarter. Jennison Associates LLC boosted its holdings in Inari Medical by 63.2% in the third quarter. Jennison Associates LLC now owns 1,576,641 shares of the company’s stock worth $65,021,000 after purchasing an additional 610,468 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Inari Medical by 101.3% during the third quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company’s stock worth $32,790,000 after buying an additional 400,198 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

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.