Analysts Set Inari Medical, Inc. (NASDAQ:NARI) Target Price at $58.89

Shares of Inari Medical, Inc. (NASDAQ:NARI - Get Free Report) have earned a consensus rating of "Hold" from the eleven analysts that are presently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $58.89.

Several analysts have weighed in on NARI shares. Needham & Company LLC reissued a "hold" rating on shares of Inari Medical in a report on Tuesday, October 29th. Canaccord Genuity Group boosted their price target on shares of Inari Medical from $71.00 to $74.00 and gave the company a "buy" rating in a report on Tuesday, October 29th. Leerink Partnrs upgraded shares of Inari Medical to a "hold" rating in a research report on Tuesday, September 3rd. Truist Financial lifted their target price on Inari Medical from $46.00 to $50.00 and gave the stock a "hold" rating in a report on Tuesday, October 29th. Finally, Robert W. Baird increased their price target on Inari Medical from $66.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th.

Inari Medical Stock Performance

NARI traded down $0.76 during mid-day trading on Friday, reaching $55.59. The stock had a trading volume of 717,057 shares, compared to its average volume of 989,062. The firm's fifty day simple moving average is $48.70 and its two-hundred day simple moving average is $47.98. The stock has a market capitalization of $3.25 billion, a P/E ratio of -41.18 and a beta of 0.97. Inari Medical has a 52 week low of $36.73 and a 52 week high of $67.13.

Insider Buying and Selling

In other news, CEO Andrew Hykes sold 3,000 shares of the business's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the transaction, the chief executive officer now directly owns 445,310 shares in the company, valued at $22,265,500. The trade was a 0.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $1,800,800.00. Following the transaction, the director now directly owns 601,233 shares in the company, valued at approximately $27,067,509.66. This trade represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 183,000 shares of company stock worth $8,855,600. 10.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC boosted its stake in shares of Inari Medical by 83.5% in the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company's stock valued at $46,000 after buying an additional 435 shares during the period. GAMMA Investing LLC lifted its position in shares of Inari Medical by 67.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,177 shares of the company's stock valued at $49,000 after acquiring an additional 473 shares during the period. KBC Group NV lifted its position 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 acquiring an additional 498 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Inari Medical by 39.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company's stock worth $89,000 after purchasing an additional 522 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of Inari Medical by 63.5% in the third quarter. Covestor Ltd now owns 2,384 shares of the company's stock worth $99,000 after purchasing an additional 926 shares during the period. 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.