Inari Medical, Inc. (NASDAQ:NARI) Receives Average Recommendation of “Hold” from Analysts

Shares of Inari Medical, Inc. (NASDAQ:NARI) have been assigned a consensus rating of “Hold” from the fourteen research firms that are currently covering the firm, Marketbeat reports. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $68.00.

A number of equities analysts have commented on the stock. William Blair reissued a “market perform” rating on shares of Inari Medical in a research note on Tuesday, January 7th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $80.00 target price (up from $65.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Truist Financial increased their target price on Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Baird R W lowered Inari Medical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, Piper Sandler increased their price objective on Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th.

Inari Medical Stock Performance

Shares of NASDAQ NARI opened at $79.97 on Friday. The business has a 50-day moving average of $79.81 and a 200-day moving average of $60.18. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of -59.24 and a beta of 1.02. Inari Medical has a 12 month low of $36.73 and a 12 month high of $79.99.

Insider Buying and Selling

In other Inari Medical news, Director William Hoffman sold 200,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $60.47, for a total transaction of $12,094,000.00. Following the completion of the sale, the director now owns 238,987 shares of the company’s stock, valued at $14,451,543.89. This represents a 45.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 10.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Inari Medical

Several hedge funds and other institutional investors have recently modified their holdings of NARI. Smartleaf Asset Management LLC raised its holdings in shares of Inari Medical by 128.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 634 shares of the company’s stock valued at $33,000 after acquiring an additional 356 shares in the last quarter. R Squared Ltd purchased a new position in Inari Medical during the 4th quarter valued at $45,000. Quarry LP bought a new position in Inari Medical in the 4th quarter worth $57,000. Quadrant Capital Group LLC lifted its position in shares of Inari Medical by 12.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,301 shares of the company’s stock worth $66,000 after purchasing an additional 143 shares during the period. Finally, KBC Group NV boosted its stake 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 valued at $73,000 after purchasing an additional 498 shares in the last quarter. 90.98% of the stock is owned by 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.