Inari Medical (NASDAQ:NARI) Sets New 12-Month High - Time to Buy?

Shares of Inari Medical, Inc. (NASDAQ:NARI - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $79.89 and last traded at $79.85, with a volume of 1593290 shares. The stock had previously closed at $79.62.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Piper Sandler increased their price target on Inari Medical from $52.00 to $80.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. William Blair reaffirmed a "market perform" rating on shares of Inari Medical in a research report on Tuesday, January 7th. Baird R W lowered Inari Medical from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Canaccord Genuity Group reaffirmed a "hold" rating and set a $80.00 price target (up previously from $74.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $80.00 price objective (down from $81.00) on shares of Inari Medical in a report on Tuesday, January 7th. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $68.00.

Inari Medical Stock Performance

The business's 50-day moving average price is $65.69 and its 200 day moving average price is $53.26. The company has a market cap of $4.67 billion, a P/E ratio of -59.08 and a beta of 1.02.

Insider Transactions at Inari Medical

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $55.29, for a total transaction of $165,870.00. Following the transaction, the chief executive officer now owns 439,310 shares in the company, valued at $24,289,449.90. This trade represents a 0.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Hoffman sold 60,000 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $51.16, for a total transaction of $3,069,600.00. Following the completion of the sale, the director now directly owns 501,233 shares of the company's stock, valued at approximately $25,643,080.28. The trade was a 10.69 % 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 worth $18,669,070. 10.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Inari Medical

Hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its holdings in shares of Inari Medical by 5.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,550 shares of the company's stock worth $130,000 after purchasing an additional 128 shares during the period. Arizona State Retirement System increased its stake in Inari Medical by 0.9% during the 4th quarter. Arizona State Retirement System now owns 15,196 shares of the company's stock worth $776,000 after acquiring an additional 129 shares during the period. Ieq Capital LLC raised its holdings in Inari Medical by 0.3% in the 4th quarter. Ieq Capital LLC now owns 50,198 shares of the company's stock valued at $2,563,000 after acquiring an additional 145 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Inari Medical by 0.4% during the 4th quarter. HighTower Advisors LLC now owns 62,202 shares of the company's stock valued at $3,175,000 after acquiring an additional 234 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Inari Medical by 128.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 634 shares of the company's stock worth $33,000 after purchasing an additional 356 shares in the last quarter. 90.98% of the stock is owned by 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.