Inari Medical, Inc. (NASDAQ:NARI) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Inari Medical, Inc. (NASDAQ:NARI) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $59.50.

Several brokerages have recently weighed in on NARI. Piper Sandler reaffirmed a “neutral” rating and set a $50.00 price target on shares of Inari Medical in a research note on Monday, August 26th. Canaccord Genuity Group raised their target price on shares of Inari Medical from $55.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of Inari Medical in a research report on Friday, August 9th. They set a “buy” rating and a $68.00 price target on the stock. Wells Fargo & Company decreased their price objective on Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Finally, Robert W. Baird dropped their target price on Inari Medical from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st.

Inari Medical Stock Performance

NASDAQ:NARI opened at $45.52 on Wednesday. The stock has a 50-day simple moving average of $49.34 and a 200 day simple moving average of $46.53. Inari Medical has a 52-week low of $36.73 and a 52-week high of $69.40. The company has a market cap of $2.65 billion, a PE ratio of -111.02 and a beta of 1.00.

Insider Activity at Inari Medical

In other Inari Medical news, CFO Mitch C. Hill sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $47.60, for a total transaction of $238,000.00. Following the transaction, the chief financial officer now owns 181,294 shares of the company’s stock, valued at $8,629,594.40. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction on Monday, July 1st. The shares were sold at an average price of $50.08, for a total transaction of $150,240.00. Following the completion of the transaction, the chief executive officer now directly owns 462,474 shares of the company’s stock, valued at $23,160,697.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mitch C. Hill sold 5,000 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $47.60, for a total transaction of $238,000.00. Following the completion of the transaction, the chief financial officer now directly owns 181,294 shares in the company, valued at $8,629,594.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,780 shares of company stock worth $6,393,074. Insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Inari Medical by 11.1% during the first quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock worth $268,681,000 after acquiring an additional 561,562 shares during the last quarter. Brown Advisory Inc. increased its stake in shares of Inari Medical by 17.6% during the fourth quarter. Brown Advisory Inc. now owns 1,702,113 shares of the company’s stock worth $110,501,000 after purchasing an additional 255,182 shares during the period. Point72 Asset Management L.P. lifted its holdings in Inari Medical by 113.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock worth $71,324,000 after purchasing an additional 786,691 shares during the last quarter. Armistice Capital LLC boosted its stake in Inari Medical by 353.1% in the 2nd quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock valued at $48,595,000 after purchasing an additional 786,501 shares during the period. Finally, American Century Companies Inc. grew its holdings in Inari Medical by 26.8% in the 2nd quarter. American Century Companies Inc. now owns 980,917 shares of the company’s stock valued at $47,231,000 after buying an additional 207,485 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.