Inari Medical, Inc. (NASDAQ:NARI) Receives $58.89 Consensus Price Target from Brokerages

Inari Medical, Inc. (NASDAQ:NARI) has been given an average rating of “Moderate Buy” by the twelve analysts that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $61.80.

A number of brokerages have recently issued reports on NARI. Oppenheimer initiated coverage on shares of Inari Medical in a research report on Tuesday. They set an “outperform” rating and a $75.00 target price on the stock. Leerink Partnrs upgraded shares of Inari Medical to a “hold” rating in a research note on Tuesday, September 3rd. Canaccord Genuity Group increased their target price on shares of Inari Medical from $71.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Leerink Partners initiated coverage on Inari Medical in a report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price target on the stock. Finally, Piper Sandler upped their price objective on Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th.

Insider Activity at Inari Medical

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the transaction, the chief executive officer now directly owns 445,310 shares in the company, valued at approximately $22,265,500. This represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the sale, the director now owns 601,233 shares of the company’s stock, valued at approximately $27,067,509.66. The trade was a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 203,000 shares of company stock worth $10,362,000 over the last three months. 10.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Inari Medical

Hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its holdings in Inari Medical by 83.5% in the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after purchasing an additional 435 shares during the last quarter. GAMMA Investing LLC increased its holdings in Inari Medical by 67.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock valued at $49,000 after acquiring an additional 473 shares in the last quarter. KBC Group NV raised its position in Inari Medical by 39.0% during the third quarter. KBC Group NV now owns 1,774 shares of the company’s stock worth $73,000 after acquiring an additional 498 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Inari Medical by 39.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after purchasing an additional 522 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Inari Medical in the second quarter valued at approximately $104,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Inari Medical Stock Down 1.1 %

NASDAQ:NARI opened at $54.41 on Friday. The company has a market capitalization of $3.19 billion, a PE ratio of -40.30 and a beta of 0.97. Inari Medical has a 52-week low of $36.73 and a 52-week high of $66.61. The stock’s 50 day moving average price is $49.84 and its 200 day moving average price is $48.13.

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.