Inari Medical (NASDAQ:NARI) Receives “Neutral” Rating from Robert W. Baird

Robert W. Baird reaffirmed their neutral rating on shares of Inari Medical (NASDAQ:NARI) in a research note published on Tuesday,Benzinga reports. The brokerage currently has a $80.00 price target on the stock, down from their prior price target of $81.00.

NARI has been the topic of a number of other research reports. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research report on Tuesday, October 29th. Oppenheimer started coverage on shares of Inari Medical in a research report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price target on the stock. Truist Financial raised their price objective on Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Canaccord Genuity Group reiterated a “hold” rating and set a $80.00 target price (up previously from $74.00) on shares of Inari Medical in a report on Tuesday. Finally, Piper Sandler increased their price target on Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Inari Medical currently has a consensus rating of “Hold” and a consensus target price of $68.00.

Inari Medical Stock Performance

NASDAQ NARI 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’s 50 day moving average price is $52.85 and its two-hundred day moving average price is $48.92. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of -58.85 and a beta of 0.97.

Insider Activity

In related news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total transaction of $150,000.00. Following the completion of the sale, the chief executive officer now directly owns 445,310 shares of the company’s stock, valued at approximately $22,265,500. This trade represents a 0.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William Hoffman sold 40,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.05, for a total value of $2,002,000.00. Following the completion of the sale, the director now owns 561,233 shares of the company’s stock, valued at $28,089,711.65. This trade represents a 6.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,000 shares of company stock valued at $10,527,870 over the last ninety days. 10.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Inari Medical

A number of hedge funds have recently bought and sold shares of NARI. GAMMA Investing LLC grew its position 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 purchasing an additional 786 shares in the last quarter. Franklin Resources Inc. grew its position in Inari Medical by 2.2% during the third quarter. Franklin Resources Inc. now owns 223,810 shares of the company’s stock worth $9,445,000 after buying an additional 4,899 shares in the last quarter. Barclays PLC increased its stake in Inari Medical by 9.7% during the 3rd quarter. Barclays PLC now owns 288,079 shares of the company’s stock worth $11,881,000 after acquiring an additional 25,365 shares during the period. Y Intercept Hong Kong Ltd raised its holdings in Inari Medical by 316.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 44,318 shares of the company’s stock valued at $1,828,000 after acquiring an additional 33,682 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in 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 in the last quarter. 90.98% of the stock is owned by institutional investors.

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.