Inari Medical (NASDAQ:NARI) Rating Lowered to “Hold” at Baird R W

Baird R W lowered shares of Inari Medical (NASDAQ:NARI) from a strong-buy rating to a hold rating in a research note released on Tuesday morning,Zacks.com reports.

Several other brokerages also recently issued reports on NARI. Stifel Nicolaus initiated coverage on Inari Medical in a report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price target on the stock. Robert W. Baird reissued a “neutral” rating and set a $80.00 price target (down previously from $81.00) on shares of Inari Medical in a report on Tuesday. Canaccord Genuity Group reiterated a “hold” rating and issued a $80.00 price objective (up from $74.00) on shares of Inari Medical in a research report on Tuesday. Oppenheimer began coverage on shares of Inari Medical in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 target price for the company. Finally, Truist Financial boosted their price target on Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $68.00.

Inari Medical Stock Up 22.2 %

NARI opened at $79.45 on Tuesday. The company’s 50-day moving average price is $52.85 and its 200 day moving average price is $48.92. Inari Medical has a fifty-two week low of $36.73 and a fifty-two week high of $79.50. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of -58.85 and a beta of 0.97.

Insider Transactions at Inari Medical

In related news, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $55.29, for a total value of $165,870.00. Following the completion of the sale, the chief executive officer now directly owns 439,310 shares of the company’s stock, valued at approximately $24,289,449.90. This represents a 0.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Hoffman sold 60,000 shares of Inari Medical stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $51.16, for a total value 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. This trade represents a 10.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,000 shares of company stock valued at $10,527,870 in the last three months. 10.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Inari Medical

Several institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC bought a new position in shares of Inari Medical in the 2nd quarter valued at approximately $421,000. Arizona State Retirement System lifted its stake in shares of Inari Medical by 2.5% in the second quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock worth $703,000 after buying an additional 358 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Inari Medical by 31,257.1% during the 2nd quarter. Quest Partners LLC now owns 2,195 shares of the company’s stock worth $106,000 after buying an additional 2,188 shares during the period. American Century Companies Inc. grew its stake 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 during the last quarter. Finally, Sofinnova Investments Inc. raised its holdings in Inari Medical by 1,425.4% in the 2nd quarter. Sofinnova Investments Inc. now owns 155,838 shares of the company’s stock worth $7,504,000 after acquiring an additional 145,622 shares during the period. 90.98% of the stock is currently owned by institutional investors.

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.