Inari Medical (NASDAQ:NARI) Receives “Hold” Rating from Canaccord Genuity Group

Inari Medical (NASDAQ:NARI)‘s stock had its “hold” rating reaffirmed by Canaccord Genuity Group in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. They presently have a $80.00 price target on the stock, up from their previous price target of $74.00. Canaccord Genuity Group’s price target indicates a potential upside of 0.88% from the company’s current price.

Several other analysts also recently commented on NARI. Truist Financial raised their price objective on Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Robert W. Baird raised their price target on Inari Medical from $66.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Piper Sandler boosted their price objective on Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Oppenheimer initiated coverage on Inari Medical in a research note on Tuesday, December 17th. They set an “outperform” rating and a $75.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $68.00.

Inari Medical Stock Performance

NARI opened at $79.30 on Tuesday. The firm’s fifty day moving average is $52.85 and its two-hundred day moving average is $48.92. The firm has a market cap of $4.64 billion, a PE ratio of -58.74 and a beta of 0.97. Inari Medical has a twelve month low of $36.73 and a twelve month high of $79.69.

Insider Transactions at Inari Medical

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total value of $150,000.00. Following the completion of the transaction, the chief executive officer now directly owns 445,310 shares in the company, valued at $22,265,500. This trade represents a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William Hoffman sold 200,000 shares of the business’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 value of $12,094,000.00. Following the transaction, the director now directly owns 238,987 shares in the company, valued at $14,451,543.89. This trade represents a 45.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 406,000 shares of company stock valued at $22,621,870 over the last 90 days. 10.60% of the stock is owned by corporate insiders.

Institutional Trading of Inari Medical

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its stake in shares of Inari Medical by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock worth $703,000 after acquiring an additional 358 shares during the period. GAMMA Investing LLC lifted its holdings in Inari Medical by 67.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock valued at $49,000 after purchasing an additional 473 shares during the last quarter. KBC Group NV boosted its position in Inari Medical by 39.0% during the third quarter. KBC Group NV now owns 1,774 shares of the company’s stock worth $73,000 after purchasing an additional 498 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Inari Medical by 39.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after purchasing an additional 522 shares during the last quarter. Finally, Cerity Partners LLC raised its position in shares of Inari Medical by 2.8% in the third quarter. Cerity Partners LLC now owns 24,056 shares of the company’s stock valued at $992,000 after purchasing an additional 652 shares during the period. 90.98% of the stock is owned by institutional investors.

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.