Inari Medical, Inc. (NASDAQ:NARI) Given Consensus Recommendation of "Hold" by Brokerages

Inari Medical, Inc. (NASDAQ:NARI - Get Free Report) has earned a consensus rating of "Hold" from the fourteen analysts that are covering the company, MarketBeat.com reports. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $68.00.

Several equities analysts recently issued reports on the company. Robert W. Baird reiterated a "neutral" rating and issued a $80.00 price target (down previously from $81.00) on shares of Inari Medical in a report on Tuesday, January 7th. Wells Fargo & Company reiterated an "equal weight" rating and set a $80.00 price target (up previously from $65.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Canaccord Genuity Group restated a "hold" rating and issued a $80.00 price objective (up from $74.00) on shares of Inari Medical in a report on Tuesday, January 7th. William Blair reaffirmed a "market perform" rating on shares of Inari Medical in a research note on Tuesday, January 7th. Finally, BTIG Research reiterated a "neutral" rating on shares of Inari Medical in a research report on Wednesday, January 8th.

Insider Buying and Selling

In related news, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $55.29, for a total transaction of $165,870.00. Following the completion of the transaction, the chief executive officer now directly owns 439,310 shares in the company, valued at approximately $24,289,449.90. This trade represents a 0.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Hoffman sold 200,000 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $60.47, for a total value of $12,094,000.00. Following the completion of the sale, the director now owns 238,987 shares in the company, valued at $14,451,543.89. The trade was a 45.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 323,000 shares of company stock valued at $18,669,070. 10.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Inari Medical

Hedge funds have recently made changes to their positions in the business. Vestal Point Capital LP boosted 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 worth $63,922,000 after purchasing an additional 1,200,000 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Inari Medical by 63.2% during the 3rd quarter. Jennison Associates LLC now owns 1,576,641 shares of the company's stock worth $65,021,000 after buying an additional 610,468 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Inari Medical by 101.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company's stock worth $32,790,000 after buying an additional 400,198 shares during the last quarter. Bamco Inc. NY grew its holdings in shares of Inari Medical by 29.5% in the 3rd quarter. Bamco Inc. NY now owns 1,006,129 shares of the company's stock valued at $41,493,000 after acquiring an additional 228,977 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Inari Medical in the third quarter valued at about $9,008,000. 90.98% of the stock is owned by institutional investors.

Inari Medical Stock Performance

NARI traded up $0.23 during mid-day trading on Friday, reaching $79.85. The stock had a trading volume of 1,593,290 shares, compared to its average volume of 4,468,000. The firm's fifty day simple moving average is $64.54 and its two-hundred day simple moving average is $52.88. The stock has a market capitalization of $4.67 billion, a P/E ratio of -59.15 and a beta of 1.02. Inari Medical has a 52 week low of $36.73 and a 52 week high of $79.89.

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.