Inari Medical (NASDAQ:NARI) Stock Price Expected to Rise, Piper Sandler Analyst Says

Inari Medical (NASDAQ:NARI) had its price objective lifted by investment analysts at Piper Sandler from $52.00 to $80.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 0.88% from the company’s current price.

A number of other research firms have also weighed in on NARI. Truist Financial increased their target price 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 reaffirmed a “neutral” rating and issued a $80.00 price target (down previously from $81.00) on shares of Inari Medical in a research note on Tuesday. Oppenheimer started coverage on shares of Inari Medical in a report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price objective for the company. Stifel Nicolaus started coverage on shares of Inari Medical in a research note on Tuesday, September 17th. They issued a “hold” rating and a $50.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Inari Medical presently has a consensus rating of “Hold” and a consensus target price of $68.00.

Inari Medical Stock Performance

NARI opened at $79.30 on Tuesday. Inari Medical has a one year low of $36.73 and a one year high of $79.69. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of -58.74 and a beta of 0.97. The stock’s 50 day moving average price is $52.85 and its 200-day moving average price is $48.92.

Insider Buying and Selling at Inari Medical

In other news, Director William Hoffman sold 40,000 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the completion of the sale, the director now owns 601,233 shares in the company, valued at approximately $27,067,509.66. This represents a 6.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 445,310 shares in the company, valued at approximately $22,265,500. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 406,000 shares of company stock valued at $22,621,870. 10.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Inari Medical

Hedge funds have recently modified their holdings of the stock. Aigen Investment Management LP purchased a new stake in Inari Medical during the 3rd quarter worth 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 worth $63,922,000 after buying an additional 1,200,000 shares during the period. Lighthouse Investment Partners LLC purchased a new stake in shares of Inari Medical during the second quarter valued at $2,145,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Inari Medical in the 3rd quarter valued at $1,397,000. Finally, Verition Fund Management LLC acquired a new position in shares of Inari Medical in the 3rd quarter valued at $1,235,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

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.