Robert W. Baird Reaffirms Neutral Rating for Inari Medical (NASDAQ:NARI)

Inari Medical (NASDAQ:NARI)‘s stock had its “neutral” rating restated by Robert W. Baird in a note issued to investors on Tuesday,Benzinga reports. They presently have a $80.00 price objective on the stock, down from their previous price objective of $81.00. Robert W. Baird’s price target points to a potential upside of 23.08% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. Stifel Nicolaus started coverage on shares of Inari Medical in a research note on Tuesday, September 17th. They set a “hold” rating and a $50.00 target price on the stock. Oppenheimer assumed coverage on Inari Medical in a research report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price objective on the stock. Piper Sandler lifted their target price on Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Truist Financial boosted their target price on Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group reiterated a “hold” rating and issued a $80.00 price objective (up previously from $74.00) on shares of Inari Medical in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $63.70.

Inari Medical Price Performance

NASDAQ NARI opened at $65.00 on Tuesday. The company has a market cap of $3.81 billion, a P/E ratio of -48.15 and a beta of 0.97. The stock has a 50-day moving average of $52.24 and a two-hundred day moving average of $48.69. Inari Medical has a 1-year low of $36.73 and a 1-year high of $65.94.

Insiders Place Their Bets

In other news, Director William Hoffman sold 40,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.05, for a total value of $2,002,000.00. Following the completion of the sale, the director now directly owns 561,233 shares of the company’s stock, valued at approximately $28,089,711.65. This represents a 6.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total transaction of $150,000.00. Following the transaction, the chief executive officer now owns 445,310 shares in the company, valued at approximately $22,265,500. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 206,000 shares of company stock valued at $10,527,870. 10.60% of the stock is currently owned by insiders.

Institutional Trading of Inari Medical

A number of large investors have recently bought and sold shares of NARI. GAMMA Investing LLC increased its stake in Inari Medical by 67.2% in the third quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock valued at $49,000 after purchasing an additional 473 shares during the period. KBC Group NV grew its holdings in shares of 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 buying an additional 498 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Inari Medical by 39.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after acquiring an additional 522 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Inari Medical during the 2nd quarter valued at approximately $104,000. Finally, Quest Partners LLC lifted its position in 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 acquiring an additional 2,188 shares during the period. 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.