Inari Medical, Inc. (NASDAQ:NARI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Inari Medical, Inc. (NASDAQ:NARI) have received a consensus rating of “Hold” from the fourteen ratings firms that are covering the stock, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $68.00.

A number of equities analysts recently weighed in on NARI shares. Oppenheimer started coverage on shares of Inari Medical in a research report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 target price for the company. Robert W. Baird restated a “neutral” rating and set a $80.00 target price (down previously from $81.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Truist Financial upped their target price on shares of Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Piper Sandler upped their target price on shares of Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Finally, William Blair reiterated a “market perform” rating on shares of Inari Medical in a research report on Tuesday, January 7th.

Inari Medical Price Performance

Shares of NASDAQ NARI opened at $79.89 on Friday. The firm has a fifty day moving average price of $65.11 and a 200-day moving average price of $53.07. The stock has a market cap of $4.68 billion, a PE ratio of -59.18 and a beta of 1.02. Inari Medical has a 1 year low of $36.73 and a 1 year high of $79.93.

Insider Buying and Selling

In other news, CEO Andrew Hykes sold 3,000 shares of the business’s stock in a transaction dated 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 owns 439,310 shares of the company’s stock, valued at approximately $24,289,449.90. The trade was a 0.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William Hoffman sold 60,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $51.16, for a total transaction of $3,069,600.00. Following the transaction, the director now directly owns 501,233 shares in the company, valued at approximately $25,643,080.28. The trade was a 10.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 323,000 shares of company stock valued at $18,669,070. 10.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NARI. Smartleaf Asset Management LLC raised its holdings in Inari Medical by 128.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 634 shares of the company’s stock valued at $33,000 after acquiring an additional 356 shares in the last quarter. R Squared Ltd purchased a new position in Inari Medical in the 4th quarter valued at $45,000. GAMMA Investing LLC grew its position in Inari Medical by 67.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock valued at $49,000 after buying an additional 473 shares during the last quarter. KBC Group NV boosted its position in shares of Inari Medical by 39.0% during the 3rd quarter. KBC Group NV now owns 1,774 shares of the company’s stock worth $73,000 after purchasing an additional 498 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Inari Medical by 63.5% during the 3rd quarter. Covestor Ltd now owns 2,384 shares of the company’s stock worth $99,000 after purchasing an additional 926 shares in the last quarter. Institutional investors and hedge funds 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.