Inari Medical (NASDAQ:NARI) Sets New 1-Year High – Here’s What Happened

Inari Medical, Inc. (NASDAQ:NARI)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $79.76 and last traded at $79.70, with a volume of 989517 shares trading hands. The stock had previously closed at $79.60.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Oppenheimer assumed coverage on shares of Inari Medical in a report on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 price objective for the company. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Piper Sandler raised their target price on shares of Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Robert W. Baird restated a “neutral” rating and set a $80.00 target price (down from $81.00) on shares of Inari Medical in a report on Tuesday, January 7th. Finally, Truist Financial raised their target price on shares of Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Inari Medical has a consensus rating of “Hold” and a consensus price target of $68.00.

Inari Medical Stock Performance

The business’s 50 day simple moving average is $63.35 and its 200-day simple moving average is $52.61. The company has a market cap of $4.66 billion, a price-to-earnings ratio of -59.01 and a beta of 0.97.

Insider Activity at Inari Medical

In related news, Director William Hoffman sold 200,000 shares of Inari Medical stock in a transaction on Monday, January 6th. The shares were sold at an average price of $60.47, for a total value of $12,094,000.00. Following the transaction, the director now owns 238,987 shares in the company, valued at $14,451,543.89. This trade represents a 45.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Hykes sold 3,000 shares of Inari Medical 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 transaction, the chief executive officer now owns 439,310 shares in the company, valued at $24,289,449.90. This trade represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 323,000 shares of company stock valued at $18,669,070. Insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NARI. Vestal Point Capital LP increased its stake 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 valued at $63,922,000 after acquiring an additional 1,200,000 shares during the period. Jennison Associates LLC increased its stake in Inari Medical by 63.2% in 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 period. The Manufacturers Life Insurance Company increased its stake in Inari Medical by 101.3% in 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 period. Bamco Inc. NY increased its stake in Inari Medical by 29.5% in the third quarter. Bamco Inc. NY now owns 1,006,129 shares of the company’s stock valued at $41,493,000 after acquiring an additional 228,977 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in Inari Medical in the third quarter valued at about $9,008,000. 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.