Leerink Partners Begins Coverage on Inari Medical (NASDAQ:NARI)

Leerink Partners initiated coverage on shares of Inari Medical (NASDAQ:NARI) in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm issued a market perform rating and a $47.00 target price on the stock.

Several other research firms have also recently issued reports on NARI. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Inari Medical in a research note on Friday, August 9th. They set a buy rating and a $68.00 price target on the stock. Truist Financial reissued a hold rating and issued a $55.00 target price (down from $60.00) on shares of Inari Medical in a research report on Wednesday, July 31st. Robert W. Baird decreased their target price on shares of Inari Medical from $65.00 to $63.00 and set an outperform rating on the stock in a research report on Wednesday, July 31st. William Blair started coverage on shares of Inari Medical in a research report on Thursday, July 25th. They issued an outperform rating on the stock. Finally, Piper Sandler reissued a neutral rating and issued a $50.00 target price on shares of Inari Medical in a research report on Monday, August 26th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $59.50.

Inari Medical Trading Up 9.2 %

NASDAQ:NARI opened at $45.52 on Tuesday. The firm has a 50-day moving average price of $49.34 and a two-hundred day moving average price of $46.68. Inari Medical has a twelve month low of $36.73 and a twelve month high of $69.40. The company has a market capitalization of $2.65 billion, a P/E ratio of -111.02 and a beta of 1.00.

Insider Buying and Selling at Inari Medical

In related news, Director William Hoffman sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $56.74, for a total value of $3,404,400.00. Following the completion of the sale, the director now owns 743,296 shares of the company’s stock, valued at approximately $42,174,615.04. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Inari Medical news, Director William Hoffman sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $56.74, for a total transaction of $3,404,400.00. Following the completion of the sale, the director now owns 743,296 shares of the company’s stock, valued at $42,174,615.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $50.08, for a total value of $150,240.00. Following the sale, the chief executive officer now directly owns 462,474 shares of the company’s stock, valued at approximately $23,160,697.92. The disclosure for this sale can be found here. Insiders have sold a total of 117,780 shares of company stock valued at $6,393,074 in the last 90 days. 10.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NARI. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Inari Medical during the first quarter worth $30,000. GAMMA Investing LLC raised its stake in Inari Medical by 164.7% during the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock worth $34,000 after acquiring an additional 438 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Inari Medical by 83.5% during the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after acquiring an additional 435 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Inari Medical by 27.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock worth $71,000 after acquiring an additional 236 shares in the last quarter. Finally, Covestor Ltd raised its stake in Inari Medical by 30.2% during the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after acquiring an additional 376 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.