Inari Medical (NASDAQ:NARI) Rating Lowered to "Hold" at Baird R W

Inari Medical (NASDAQ:NARI - Get Free Report) was downgraded by equities researchers at Baird R W from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

NARI has been the subject of several other reports. Stifel Nicolaus began coverage on shares of Inari Medical in a report on Tuesday, September 17th. They set a "hold" rating and a $50.00 price objective for the company. Wells Fargo & Company restated an "equal weight" rating and set a $80.00 price target (up from $65.00) on shares of Inari Medical in a report on Tuesday. Oppenheimer initiated coverage on Inari Medical in a research report on Tuesday, December 17th. They issued an "outperform" rating and a $75.00 price target on the stock. Truist Financial boosted their price objective on Inari Medical from $50.00 to $63.00 and gave the stock a "hold" rating in a research report on Wednesday, December 18th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Inari Medical in a report on Tuesday, October 29th. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $68.00.

Inari Medical Price Performance

NARI traded down $0.15 during midday trading on Tuesday, hitting $79.30. 11,583,187 shares of the company's stock traded hands, compared to its average volume of 10,312,277. The company has a market cap of $4.64 billion, a PE ratio of -58.74 and a beta of 0.97. The stock's fifty day simple moving average is $52.85 and its 200-day simple moving average is $48.92. Inari Medical has a one year low of $36.73 and a one year high of $79.69.

Insider Buying and Selling at Inari Medical

In other 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 transaction of $1,800,800.00. Following the transaction, the director now owns 601,233 shares in the company, valued at $27,067,509.66. The trade was a 6.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total transaction of $150,000.00. Following the sale, the chief executive officer now owns 445,310 shares in the company, valued at $22,265,500. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,000 shares of company stock valued at $10,527,870. Corporate insiders own 10.60% of the company's stock.

Hedge Funds Weigh In On Inari Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in Inari Medical by 67.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,177 shares of the company's stock worth $49,000 after buying an additional 473 shares in the last quarter. KBC Group NV increased its position in shares of Inari Medical by 39.0% in the third 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 last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Inari Medical by 39.4% during the second 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Inari Medical during the second quarter valued at approximately $104,000. Finally, Quest Partners LLC grew its stake in Inari Medical by 31,257.1% in the second quarter. Quest Partners LLC now owns 2,195 shares of the company's stock valued at $106,000 after purchasing an additional 2,188 shares in 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.