Inari Medical (NASDAQ:NARI) Reaches New 52-Week High - Still a Buy?

Inari Medical, Inc. (NASDAQ:NARI - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $79.76 and last traded at $79.70, with a volume of 989517 shares traded. The stock had previously closed at $79.60.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. William Blair reissued a "market perform" rating on shares of Inari Medical in a research note on Tuesday, January 7th. BTIG Research reiterated a "neutral" rating on shares of Inari Medical in a research report on Wednesday, January 8th. Wells Fargo & Company restated an "equal weight" rating and set a $80.00 target price (up previously from $65.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Baird R W cut Inari Medical from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, Robert W. Baird reissued a "neutral" rating and set a $80.00 price objective (down from $81.00) on shares of Inari Medical in a report on Tuesday, January 7th. Twelve 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 company has a consensus rating of "Hold" and an average price target of $68.00.

Inari Medical Price Performance

The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of -59.03 and a beta of 0.97. The firm has a 50-day moving average price of $62.15 and a two-hundred day moving average price of $52.25.

Insider Buying and Selling

In other Inari Medical news, Director William Hoffman sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $51.16, for a total value of $3,069,600.00. Following the completion of the transaction, the director now directly owns 501,233 shares in the company, valued at $25,643,080.28. This trade represents a 10.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Hykes sold 3,000 shares of the company's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $55.29, for a total transaction of $165,870.00. Following the completion of the sale, the chief executive officer now directly owns 439,310 shares in the company, valued at approximately $24,289,449.90. The trade was a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 323,000 shares of company stock worth $18,669,070. 10.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Inari Medical

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

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.