Inari Medical (NASDAQ:NARI) Reaches New 1-Year High – Time to Buy?

Inari Medical, Inc. (NASDAQ:NARI)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $79.89 and last traded at $79.85, with a volume of 1593290 shares traded. The stock had previously closed at $79.62.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Truist Financial upped their price objective on Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group restated a “hold” rating and set a $80.00 target price (up previously from $74.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Oppenheimer assumed coverage on Inari Medical in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 price target on the stock. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $80.00 price objective (up from $65.00) on shares of Inari Medical in a research note on Tuesday, January 7th. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Inari Medical has a consensus rating of “Hold” and a consensus target price of $68.00.

Inari Medical Stock Down 0.0 %

The stock has a fifty day moving average of $65.69 and a 200-day moving average of $53.26.

Insider Buying and Selling at Inari Medical

In other news, Director William Hoffman sold 200,000 shares of Inari Medical stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $60.47, for a total transaction of $12,094,000.00. Following the completion of the sale, the director now owns 238,987 shares in the company, valued at $14,451,543.89. The trade was a 45.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 sale, the chief executive officer now directly owns 439,310 shares of the company’s stock, valued at $24,289,449.90. This 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 worth $18,669,070. 10.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Inari Medical

Several institutional investors have recently modified their holdings of NARI. Aigen Investment Management LP acquired a new position in shares of Inari Medical in the 3rd quarter valued at $428,000. Vestal Point Capital LP boosted its position in Inari Medical by 342.9% during the 3rd quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock worth $63,922,000 after acquiring an additional 1,200,000 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Inari Medical during the third quarter worth $1,397,000. Verition Fund Management LLC acquired a new position in shares of Inari Medical during the 3rd quarter worth about $1,235,000. Finally, Jane Street Group LLC boosted its position in Inari Medical by 32.4% during the third quarter. Jane Street Group LLC now owns 95,223 shares of the company’s stock valued at $3,927,000 after purchasing an additional 23,286 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.