Inari Medical, Inc. (NASDAQ:NARI) Receives $68.00 Consensus Target Price from Brokerages

Shares of Inari Medical, Inc. (NASDAQ:NARI - Get Free Report) have been given a consensus rating of "Hold" by the fourteen analysts that are currently covering the firm, Marketbeat reports. Twelve research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $68.00.

Several equities research analysts recently commented on NARI shares. William Blair reissued a "market perform" rating on shares of Inari Medical in a research note on Tuesday, January 7th. Canaccord Genuity Group reissued a "hold" rating and set a $80.00 price objective (up previously from $74.00) on shares of Inari Medical in a research note on Tuesday, January 7th. Baird R W lowered shares of Inari Medical from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Piper Sandler boosted their price objective on shares of Inari Medical from $52.00 to $80.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. Finally, Robert W. Baird reissued a "neutral" rating and set a $80.00 price objective (down previously from $81.00) on shares of Inari Medical in a research note on Tuesday, January 7th.

Inari Medical Stock Performance

Shares of NARI remained flat at $79.97 during trading hours on Wednesday. The firm has a 50-day moving average of $73.93 and a 200 day moving average of $56.53. The firm has a market cap of $4.68 billion, a PE ratio of -59.24 and a beta of 1.02. Inari Medical has a 52-week low of $36.73 and a 52-week high of $79.99.

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Insider Activity

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the company'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 transaction 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. This represents a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Hoffman sold 60,000 shares of the company's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $55.66, for a total transaction of $3,339,600.00. Following the sale, the director now directly owns 441,233 shares of the company's stock, valued at approximately $24,559,028.78. This represents a 11.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 263,000 shares of company stock valued at $15,599,470 over the last three months. Insiders own 10.60% of the company's stock.

Institutional Trading of Inari Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NARI. Vestal Point Capital LP increased its holdings in Inari Medical by 342.9% during the third quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company's stock valued at $63,922,000 after buying an additional 1,200,000 shares during the last quarter. Woodline Partners LP purchased a new stake in Inari Medical during the fourth quarter valued at approximately $36,394,000. Jennison Associates LLC increased its holdings in Inari Medical by 63.2% during the third quarter. Jennison Associates LLC now owns 1,576,641 shares of the company's stock valued at $65,021,000 after buying an additional 610,468 shares during the last quarter. Mackenzie Financial Corp increased its holdings in Inari Medical by 59.7% during the fourth quarter. Mackenzie Financial Corp now owns 1,363,697 shares of the company's stock valued at $69,617,000 after buying an additional 509,868 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Inari Medical by 101.3% in the third quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company's stock worth $32,790,000 after purchasing an additional 400,198 shares during the period. 90.98% of the stock is owned by hedge funds and other 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.