Inari Medical (NASDAQ:NARI) Sets New 1-Year High – Time to Buy?

Shares of Inari Medical, Inc. (NASDAQ:NARI) reached a new 52-week high on Friday . The stock traded as high as $79.76 and last traded at $79.74, with a volume of 1661192 shares traded. The stock had previously closed at $79.46.

Analysts Set New Price Targets

NARI has been the topic of several recent analyst reports. Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price target (down from $81.00) on shares of Inari Medical in a research note on Tuesday, January 7th. Oppenheimer assumed coverage on Inari Medical in a report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price objective on the stock. Wells Fargo & Company reissued an “equal weight” rating and issued a $80.00 target price (up from $65.00) on shares of Inari Medical in a report on Tuesday, January 7th. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Finally, Truist Financial boosted their price objective on Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $68.00.

Inari Medical Stock Performance

The stock’s 50-day simple moving average is $60.40 and its 200 day simple moving average is $51.69.

Insider Buying and Selling

In other news, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction dated 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 $22,265,500. This trade represents a 0.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William Hoffman sold 200,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $60.47, for a total transaction of $12,094,000.00. Following the sale, the director now directly owns 238,987 shares in the company, valued at approximately $14,451,543.89. This represents a 45.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 366,000 shares of company stock valued at $20,821,070 over the last ninety days. Corporate insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC grew its holdings in shares of Inari Medical by 11.8% in the 4th quarter. Jennison Associates LLC now owns 1,763,258 shares of the company’s stock worth $90,014,000 after acquiring an additional 186,617 shares during the period. R Squared Ltd purchased a new stake in Inari Medical during the fourth quarter worth $45,000. KBC Group NV grew its holdings in Inari Medical by 31.5% in the fourth quarter. KBC Group NV now owns 2,333 shares of the company’s stock valued at $119,000 after purchasing an additional 559 shares during the last quarter. AMI Asset Management Corp purchased a new position in shares of Inari Medical in the fourth quarter valued at $1,651,000. Finally, GAMMA Investing LLC raised its stake in shares of Inari Medical by 66.8% during the 4th quarter. GAMMA Investing LLC now owns 1,963 shares of the company’s stock worth $100,000 after buying an additional 786 shares during the last quarter. 90.98% of the stock is owned by hedge funds and other 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.