Inari Medical, Inc. (NASDAQ:NARI) Receives $61.80 Consensus PT from Brokerages

Shares of Inari Medical, Inc. (NASDAQ:NARI) have been assigned a consensus recommendation of “Hold” from the fourteen research firms that are covering the firm, Marketbeat reports. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $68.00.

A number of research analysts have weighed in on the stock. Stifel Nicolaus began coverage on shares of Inari Medical in a research report on Tuesday, September 17th. They set a “hold” rating and a $50.00 price objective on the stock. Truist Financial upped their price target on shares of Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Baird R W downgraded shares of Inari Medical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird reaffirmed a “neutral” rating and set a $80.00 target price (down previously from $81.00) on shares of Inari Medical in a research note on Tuesday. Finally, William Blair reiterated a “market perform” rating on shares of Inari Medical in a report on Tuesday.

Inari Medical Stock Performance

Shares of Inari Medical stock opened at $79.30 on Tuesday. The stock has a 50 day moving average price of $53.49 and a 200-day moving average price of $49.14. 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.

Insiders Place Their Bets

In other news, Director William Hoffman sold 40,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the transaction, the director now directly owns 601,233 shares in the company, valued at approximately $27,067,509.66. This trade represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $55.29, for a total transaction of $165,870.00. Following the transaction, the chief executive officer now directly owns 439,310 shares in the company, valued at approximately $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. In the last ninety days, insiders sold 406,000 shares of company stock worth $22,621,870. 10.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Inari Medical

Hedge funds have recently made changes to their positions in the stock. Vestal Point Capital LP raised its holdings 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 worth $63,922,000 after purchasing an additional 1,200,000 shares in the last quarter. Point72 Asset Management L.P. grew its position in shares of Inari Medical by 113.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock worth $71,324,000 after buying an additional 786,691 shares during the last quarter. Armistice Capital LLC raised its stake in shares of Inari Medical by 353.1% during the 2nd quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock worth $48,595,000 after acquiring an additional 786,501 shares in the last quarter. Jennison Associates LLC lifted its position in Inari Medical by 63.2% during the third quarter. Jennison Associates LLC now owns 1,576,641 shares of the company’s stock valued at $65,021,000 after acquiring an additional 610,468 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted 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 valued at $32,790,000 after acquiring an additional 400,198 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

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.