Inari Medical, Inc. (NASDAQ:NARI) Given Consensus Recommendation of “Hold” by Analysts

Shares of Inari Medical, Inc. (NASDAQ:NARI) have received an average rating of “Hold” from the fourteen brokerages that are covering the company, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $68.00.

NARI has been the subject of several recent research reports. William Blair reissued a “market perform” rating on shares of Inari Medical in a report on Tuesday, January 7th. Baird R W downgraded Inari Medical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Oppenheimer initiated coverage on shares of Inari Medical in a research note on Tuesday, December 17th. They set an “outperform” rating and a $75.00 target price on the stock. Truist Financial lifted their price target on shares of Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Finally, Piper Sandler increased their price objective on shares of Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th.

Insider Transactions at Inari Medical

In other Inari Medical news, Director William Hoffman sold 200,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 238,987 shares in the company, valued at $14,451,543.89. This trade represents a 45.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vestal Point Capital LP raised its stake 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 valued at $63,922,000 after purchasing an additional 1,200,000 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Inari Medical in the 3rd quarter worth about $1,397,000. Verition Fund Management LLC purchased a new stake in shares of Inari Medical during the 3rd quarter valued at about $1,235,000. Jane Street Group LLC lifted its holdings in shares of Inari Medical by 32.4% in the 3rd quarter. Jane Street Group LLC now owns 95,223 shares of the company’s stock valued at $3,927,000 after acquiring an additional 23,286 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in Inari Medical in the third quarter worth about $716,000. 90.98% of the stock is currently owned by institutional investors.

Inari Medical Price Performance

Shares of Inari Medical stock opened at $79.97 on Friday. Inari Medical has a 1-year low of $36.73 and a 1-year high of $79.99. The company’s fifty day simple moving average is $79.86 and its 200-day simple moving average is $61.08. The stock has a market capitalization of $4.68 billion, a PE ratio of -59.24 and a beta of 1.02.

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.