Inari Medical (NASDAQ:NARI) Earns “Market Perform” Rating from William Blair

Inari Medical (NASDAQ:NARI)‘s stock had its “market perform” rating reiterated by research analysts at William Blair in a report issued on Tuesday,RTT News reports.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group restated a “hold” rating and set a $80.00 target price (up from $74.00) on shares of Inari Medical in a research note on Tuesday. 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 on the stock. Truist Financial lifted their price objective on shares of Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Stifel Nicolaus began coverage on shares of Inari Medical in a report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a research report on Tuesday, October 29th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Inari Medical currently has an average rating of “Hold” and a consensus target price of $66.50.

Inari Medical Trading Up 22.1 %

Shares of Inari Medical stock traded up $14.39 during trading on Tuesday, hitting $79.39. 9,445,867 shares of the stock traded hands, compared to its average volume of 5,755,367. The stock’s fifty day simple moving average is $52.24 and its 200 day simple moving average is $48.69. The firm has a market cap of $4.65 billion, a P/E ratio of -58.81 and a beta of 0.97. Inari Medical has a 52-week low of $36.73 and a 52-week high of $79.48.

Insider Activity at Inari Medical

In other news, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total value of $150,000.00. Following the completion of the transaction, the chief executive officer now owns 445,310 shares in the company, valued at approximately $22,265,500. This represents a 0.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William Hoffman sold 60,000 shares of Inari Medical stock in a transaction on Monday, November 18th. The stock was sold at an average price of $51.16, for a total transaction of $3,069,600.00. Following the sale, the director now owns 501,233 shares in the company, valued at $25,643,080.28. This represents a 10.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 206,000 shares of company stock worth $10,527,870. Corporate insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

Institutional investors have recently modified their holdings of the company. Vestal Point Capital LP boosted its position in Inari Medical by 342.9% during the third quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock worth $63,922,000 after purchasing an additional 1,200,000 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Inari Medical by 113.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock worth $71,324,000 after buying an additional 786,691 shares in the last quarter. Armistice Capital LLC grew 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 acquiring an additional 786,501 shares during the last quarter. Jennison Associates LLC increased its holdings in Inari Medical by 63.2% during the 3rd quarter. Jennison Associates LLC now owns 1,576,641 shares of the company’s stock valued at $65,021,000 after acquiring an additional 610,468 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Inari Medical by 101.3% during the third quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company’s stock worth $32,790,000 after acquiring an additional 400,198 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

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.