Canaccord Genuity Group Increases Inari Medical (NASDAQ:NARI) Price Target to $71.00

Inari Medical (NASDAQ:NARI) had its price objective increased by Canaccord Genuity Group from $55.00 to $71.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently issued reports on NARI. William Blair started coverage on shares of Inari Medical in a research report on Thursday, July 25th. They set an outperform rating for the company. Wells Fargo & Company cut their price objective on shares of Inari Medical from $100.00 to $84.00 and set an overweight rating for the company in a research report on Wednesday, May 1st. Robert W. Baird cut their price objective on shares of Inari Medical from $65.00 to $63.00 and set an outperform rating for the company in a research report on Wednesday. Piper Sandler cut their price objective on shares of Inari Medical from $55.00 to $50.00 and set a neutral rating for the company in a research report on Wednesday, May 1st. Finally, Truist Financial boosted their price objective on shares of Inari Medical from $47.00 to $60.00 and gave the company a hold rating in a research report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Inari Medical presently has a consensus rating of Moderate Buy and a consensus target price of $60.17.

Inari Medical Trading Down 1.2 %

Shares of NARI opened at $47.31 on Wednesday. The firm has a market cap of $2.75 billion, a PE ratio of -115.39 and a beta of 1.01. The firm has a fifty day simple moving average of $50.14 and a two-hundred day simple moving average of $48.69. Inari Medical has a 1-year low of $36.73 and a 1-year high of $71.85.

Insider Buying and Selling

In related news, Director Rebecca Chambers sold 964 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $45.39, for a total value of $43,755.96. Following the completion of the transaction, the director now owns 9,944 shares of the company’s stock, valued at approximately $451,358.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Inari Medical news, Director Rebecca Chambers sold 964 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $45.39, for a total value of $43,755.96. Following the sale, the director now owns 9,944 shares in the company, valued at approximately $451,358.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $50.00, for a total transaction of $150,000.00. Following the completion of the sale, the chief executive officer now owns 465,474 shares in the company, valued at approximately $23,273,700. The disclosure for this sale can be found here. In the last quarter, insiders sold 222,744 shares of company stock valued at $11,494,500. Company insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Inari Medical by 11.1% during the 1st quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock valued at $268,681,000 after buying an additional 561,562 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Inari Medical by 17.6% during the 4th quarter. Brown Advisory Inc. now owns 1,702,113 shares of the company’s stock valued at $110,501,000 after buying an additional 255,182 shares in the last quarter. Bamco Inc. NY raised its position in shares of Inari Medical by 27.4% during the 1st quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock valued at $37,288,000 after buying an additional 167,000 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Inari Medical by 7.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 596,007 shares of the company’s stock valued at $38,693,000 after buying an additional 41,555 shares in the last quarter. Finally, Fiera Capital Corp raised its position in shares of Inari Medical by 1.2% during the 2nd quarter. Fiera Capital Corp now owns 583,388 shares of the company’s stock valued at $28,090,000 after buying an additional 6,664 shares in 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.