Inari Medical (NASDAQ:NARI) Now Covered by Oppenheimer

Equities research analysts at Oppenheimer started coverage on shares of Inari Medical (NASDAQ:NARI - Get Free Report) in a note issued to investors on Tuesday, MarketBeat.com reports. The firm set an "outperform" rating and a $75.00 price target on the stock. Oppenheimer's price objective points to a potential upside of 33.55% from the stock's previous close.

Several other brokerages have also recently weighed in on NARI. Canaccord Genuity Group upped their price target on Inari Medical from $71.00 to $74.00 and gave the stock a "buy" rating in a research note on Tuesday, October 29th. Piper Sandler increased their target price on Inari Medical from $50.00 to $52.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. Needham & Company LLC reiterated a "hold" rating on shares of Inari Medical in a research report on Tuesday, October 29th. Truist Financial boosted their price objective on Inari Medical from $46.00 to $50.00 and gave the company a "hold" rating in a research report on Tuesday, October 29th. Finally, Stifel Nicolaus assumed coverage on Inari Medical in a report on Tuesday, September 17th. They issued a "hold" rating and a $50.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Inari Medical currently has an average rating of "Moderate Buy" and an average price target of $60.50.

Inari Medical Trading Down 1.0 %

Shares of Inari Medical stock traded down $0.59 during trading on Tuesday, hitting $56.16. The stock had a trading volume of 1,423,653 shares, compared to its average volume of 991,600. The business's 50-day moving average is $49.03 and its 200 day moving average is $47.99. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of -41.60 and a beta of 0.97. Inari Medical has a 12 month low of $36.73 and a 12 month high of $67.10.

Insider Buying and Selling at Inari Medical

In related news, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction dated 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 completion of 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 ownership of the stock. 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 dated 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 transaction, the chief executive officer now directly owns 445,310 shares in the company, valued at $22,265,500. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 143,000 shares of company stock worth $7,022,400. Insiders own 10.60% of the company's stock.

Hedge Funds Weigh In On 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 stake in shares of Inari Medical by 342.9% in 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 period. Point72 Asset Management L.P. grew its position in Inari Medical by 113.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company's stock worth $71,324,000 after acquiring an additional 786,691 shares during the last quarter. Armistice Capital LLC lifted its position in Inari Medical by 353.1% during the 2nd quarter. Armistice Capital LLC now owns 1,009,252 shares of the company's stock worth $48,595,000 after buying an additional 786,501 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Inari Medical by 63.2% in the third quarter. Jennison Associates LLC now owns 1,576,641 shares of the company's stock valued at $65,021,000 after purchasing an additional 610,468 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position 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 period. Institutional investors and hedge funds own 90.98% of the company's stock.

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.