Inari Medical (NASDAQ:NARI) Shares Down 4.2% – Should You Sell?

Shares of Inari Medical, Inc. (NASDAQ:NARI) were down 4.2% during trading on Friday . The stock traded as low as $49.40 and last traded at $49.60. Approximately 412,108 shares were traded during trading, a decline of 33% from the average daily volume of 614,661 shares. The stock had previously closed at $51.80.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NARI. Canaccord Genuity Group boosted their target price on Inari Medical from $71.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Truist Financial lifted their target price on shares of Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Stifel Nicolaus began coverage on shares of Inari Medical in a research report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price target for the company. Robert W. Baird boosted their target price on shares of Inari Medical from $66.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, Piper Sandler boosted their target price on shares of Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Inari Medical currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.80.

Inari Medical Trading Down 3.8 %

The company has a market cap of $2.92 billion, a price-to-earnings ratio of -36.91 and a beta of 0.97. The company has a fifty day moving average price of $51.67 and a two-hundred day moving average price of $48.47.

Insider Buying and Selling at Inari Medical

In related news, Director William Hoffman sold 40,000 shares of the firm’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 completion of the transaction, the director now owns 601,233 shares in the company, valued at $27,067,509.66. This trade represents a 6.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $150,000.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold 206,000 shares of company stock valued at $10,527,870 in the last 90 days. 10.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Inari Medical

Several institutional investors have recently bought and sold shares of the business. Arizona State Retirement System raised its position in Inari Medical by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock valued at $703,000 after purchasing an additional 358 shares during the last quarter. GAMMA Investing LLC raised its position in Inari Medical by 67.2% in the 3rd 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 raised its position in Inari Medical by 39.0% in the 3rd quarter. KBC Group NV now owns 1,774 shares of the company’s stock valued at $73,000 after purchasing an additional 498 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised 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 purchasing an additional 522 shares during the last quarter. Finally, Cerity Partners LLC raised its position in Inari Medical by 2.8% in the 3rd quarter. Cerity Partners LLC now owns 24,056 shares of the company’s stock valued at $992,000 after purchasing an additional 652 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

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.