Inari Medical (NASDAQ:NARI) Rating Lowered to “Hold” at Baird R W

Inari Medical (NASDAQ:NARI) was downgraded by analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other research firms have also weighed in on NARI. Oppenheimer assumed coverage on Inari Medical in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 target price on the stock. William Blair reiterated a “market perform” rating on shares of Inari Medical in a research report on Tuesday. Robert W. Baird restated a “neutral” rating and set a $80.00 price objective (down previously from $81.00) on shares of Inari Medical in a report on Tuesday. Truist Financial increased their target price on shares of Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $80.00 price target (up previously from $74.00) on shares of Inari Medical in a report on Tuesday. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Inari Medical currently has an average rating of “Hold” and a consensus price target of $68.00.

Inari Medical Stock Performance

Shares of Inari Medical stock opened at $79.45 on Tuesday. Inari Medical has a 52 week low of $36.73 and a 52 week high of $79.50. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of -58.85 and a beta of 0.97. The firm has a fifty day moving average of $52.85 and a two-hundred day moving average of $48.92.

Insider Buying and Selling at Inari Medical

In other Inari Medical news, Director William Hoffman sold 40,000 shares of the business’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 transaction of $1,800,800.00. Following the transaction, the director now owns 601,233 shares of the company’s stock, valued at $27,067,509.66. The trade was a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $55.29, for a total value of $165,870.00. Following the completion of the sale, the chief executive officer now directly owns 439,310 shares of the company’s stock, valued at approximately $24,289,449.90. The trade was a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have 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

A number of large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its holdings in shares of 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 last quarter. KBC Group NV boosted its holdings in shares of Inari Medical by 39.0% during the 3rd 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 period. Benjamin F. Edwards & Company Inc. grew its stake 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 buying an additional 522 shares during the last quarter. Covestor Ltd raised its holdings in Inari Medical by 63.5% in the 3rd quarter. Covestor Ltd now owns 2,384 shares of the company’s stock valued at $99,000 after acquiring an additional 926 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Inari Medical during the second quarter worth approximately $104,000. Institutional investors 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.