Wells Fargo & Company Reiterates "Equal Weight" Rating for Inari Medical (NASDAQ:NARI)

Inari Medical (NASDAQ:NARI - Get Free Report)'s stock had its "equal weight" rating reissued by Wells Fargo & Company in a research report issued on Tuesday,Benzinga reports. They presently have a $80.00 target price on the stock, up from their previous target price of $65.00. Wells Fargo & Company's price target would indicate a potential upside of 0.69% from the stock's previous close.

NARI has been the topic of a number of other research reports. Oppenheimer started coverage on Inari Medical in a research report on Tuesday, December 17th. They issued an "outperform" rating and a $75.00 target price on the stock. William Blair restated a "market perform" rating on shares of Inari Medical in a research report on Tuesday. Truist Financial lifted their target price on Inari Medical from $50.00 to $63.00 and gave the company a "hold" rating in a research report on Wednesday, December 18th. Stifel Nicolaus started coverage on Inari Medical in a research report on Tuesday, September 17th. They issued a "hold" rating and a $50.00 target price on the stock. Finally, Canaccord Genuity Group restated a "hold" rating and issued a $80.00 target price (up previously from $74.00) on shares of Inari Medical in a research report on Tuesday. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Inari Medical presently has a consensus rating of "Hold" and an average target price of $68.00.

Inari Medical Price Performance

Inari Medical stock traded up $14.45 during trading on Tuesday, reaching $79.45. 24,469,891 shares of the company were exchanged, compared to its average volume of 9,994,396. Inari Medical has a 52-week low of $36.73 and a 52-week high of $79.50. The company has a market capitalization of $4.65 billion, a P/E ratio of -58.85 and a beta of 0.97. The stock's 50 day simple moving average is $52.85 and its two-hundred day simple moving average is $48.92.

Insider Buying and Selling

In other news, Director William Hoffman sold 60,000 shares of the business's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $55.66, for a total value of $3,339,600.00. Following the completion of the sale, the director now directly owns 441,233 shares of the company's stock, valued at approximately $24,559,028.78. The trade was a 11.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Hykes sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total value of $150,000.00. Following the completion of the transaction, the chief executive officer now directly owns 445,310 shares of the company's stock, valued at $22,265,500. The trade was a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 206,000 shares of company stock valued at $10,527,870 in the last three months. 10.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Inari Medical

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its stake in Inari Medical by 67.2% during the third quarter. GAMMA Investing LLC now owns 1,177 shares of the company's stock worth $49,000 after purchasing an additional 473 shares during the period. KBC Group NV boosted its holdings in Inari Medical by 39.0% in 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 during the period. Benjamin F. Edwards & Company Inc. lifted 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 acquiring an additional 522 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Inari Medical in the 2nd quarter valued at approximately $104,000. Finally, Quest Partners LLC grew its holdings in shares of Inari Medical by 31,257.1% during the second quarter. Quest Partners LLC now owns 2,195 shares of the company's stock valued at $106,000 after buying an additional 2,188 shares during the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

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.