Inari Medical (NASDAQ:NARI) Rating Lowered to “Hold” at Baird R W

Baird R W lowered shares of Inari Medical (NASDAQ:NARI) from a strong-buy rating to a hold rating in a report released on Tuesday,Zacks.com reports.

Several other research analysts also recently commented on the stock. Robert W. Baird reissued a “neutral” rating and issued a $80.00 price target (down from $81.00) on shares of Inari Medical in a report on Tuesday. Piper Sandler raised their price target on shares of Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday. Canaccord Genuity Group reissued a “hold” rating and issued a $80.00 price target (up from $74.00) on shares of Inari Medical in a report on Tuesday. William Blair reissued a “market perform” rating on shares of Inari Medical in a report on Tuesday. Finally, Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research report on Tuesday, October 29th. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Inari Medical has a consensus rating of “Hold” and a consensus target price of $68.00.

Inari Medical Trading Down 0.2 %

NARI opened at $79.30 on Tuesday. The company has a 50 day moving average of $53.49 and a 200 day moving average of $49.14. Inari Medical has a 12 month low of $36.73 and a 12 month high of $79.69. The company has a market cap of $4.64 billion, a PE ratio of -58.74 and a beta of 0.97.

Insider Buying and Selling

In related news, Director William Hoffman sold 40,000 shares of Inari Medical 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 owns 601,233 shares in the company, valued at $27,067,509.66. This trade represents a 6.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was 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 in the company, valued at approximately $24,289,449.90. This trade represents a 0.68 % 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 worth $22,621,870 in the last 90 days. 10.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Inari Medical

A number of large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Inari Medical by 66.8% in the 4th quarter. GAMMA Investing LLC now owns 1,963 shares of the company’s stock worth $100,000 after acquiring an additional 786 shares during the last quarter. Franklin Resources Inc. grew its holdings in Inari Medical by 2.2% in the 3rd quarter. Franklin Resources Inc. now owns 223,810 shares of the company’s stock worth $9,445,000 after acquiring an additional 4,899 shares during the last quarter. Barclays PLC grew its holdings in Inari Medical by 9.7% in the 3rd quarter. Barclays PLC now owns 288,079 shares of the company’s stock worth $11,881,000 after acquiring an additional 25,365 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of Inari Medical by 316.7% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 44,318 shares of the company’s stock valued at $1,828,000 after purchasing an additional 33,682 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Inari Medical by 32.4% during the 3rd quarter. Jane Street Group LLC now owns 95,223 shares of the company’s stock valued at $3,927,000 after purchasing an additional 23,286 shares in the last quarter. Institutional investors 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.