Inari Medical (NASDAQ:NARI) Receives “Neutral” Rating from BTIG Research

BTIG Research reaffirmed their neutral rating on shares of Inari Medical (NASDAQ:NARI) in a research report released on Wednesday morning,Benzinga reports.

A number of other equities analysts also recently weighed in on NARI. Truist Financial upped their target price on Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $80.00 target price (up previously from $65.00) on shares of Inari Medical in a research report on Tuesday. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Baird R W lowered Inari Medical from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, Piper Sandler boosted their target price on Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Inari Medical has an average rating of “Hold” and an average target price of $68.00.

Inari Medical Trading Down 0.2 %

Shares of NARI opened at $79.30 on Wednesday. Inari Medical has a 1-year low of $36.73 and a 1-year high of $79.69. The stock has a market capitalization of $4.64 billion, a P/E ratio of -58.74 and a beta of 0.97. The business’s 50-day moving average price is $52.85 and its 200 day moving average price is $48.92.

Insider Buying and Selling at Inari Medical

In other Inari Medical news, 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 value of $150,000.00. Following the sale, the chief executive officer now owns 445,310 shares of the company’s stock, valued at $22,265,500. This trade represents a 0.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total value of $1,800,800.00. Following the transaction, the director now owns 601,233 shares of the company’s stock, valued at approximately $27,067,509.66. This trade represents 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 406,000 shares of company stock worth $22,621,870 over the last 90 days. Insiders own 10.60% of the company’s stock.

Hedge Funds Weigh In On Inari Medical

Several large investors have recently bought and sold shares of the stock. Aigen Investment Management LP acquired a new stake in Inari Medical in the 3rd quarter worth $428,000. Vestal Point Capital LP grew 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 buying an additional 1,200,000 shares in the last quarter. Lighthouse Investment Partners LLC bought a new position in Inari Medical during the second quarter valued at about $2,145,000. Dynamic Technology Lab Private Ltd bought a new position in Inari Medical during the third quarter valued at about $1,397,000. Finally, Verition Fund Management LLC bought a new stake in shares of Inari Medical in the 3rd quarter worth approximately $1,235,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.