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

Inari Medical, Inc. (NASDAQ:NARI - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $79.99 and last traded at $79.98, with a volume of 1372 shares trading hands. The stock had previously closed at $79.93.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Canaccord Genuity Group reissued a "hold" rating and set a $80.00 price target (up from $74.00) on shares of Inari Medical in a report on Tuesday, January 7th. Truist Financial increased their target price on shares of Inari Medical from $50.00 to $63.00 and gave the stock a "hold" rating in a research note on Wednesday, December 18th. Wells Fargo & Company restated an "equal weight" rating and issued a $80.00 price target (up previously from $65.00) on shares of Inari Medical in a research note on Tuesday, January 7th. Robert W. Baird reiterated a "neutral" rating and set a $80.00 price target (down previously from $81.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Finally, Piper Sandler boosted their price objective on Inari Medical from $52.00 to $80.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $68.00.

Inari Medical Trading Up 0.1 %

The business has a fifty day simple moving average of $71.49 and a two-hundred day simple moving average of $55.42. The company has a market cap of $4.68 billion, a PE ratio of -59.24 and a beta of 1.02.

Insider Activity

In other news, Director William Hoffman sold 60,000 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $24,559,028.78. This represents a 11.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $55.29, for a total value of $165,870.00. Following the completion of the sale, the chief executive officer now directly owns 439,310 shares of the company's stock, valued at approximately $24,289,449.90. This represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 263,000 shares of company stock worth $15,599,470 over the last three months. Insiders own 10.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NARI. PNC Financial Services Group Inc. raised its stake in 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 holdings in shares of 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 buying an additional 129 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Inari Medical by 12.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,301 shares of the company's stock valued at $66,000 after buying an additional 143 shares during the period. Ieq Capital LLC lifted its holdings in Inari Medical by 0.3% in the fourth 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 during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in Inari Medical by 0.4% in the fourth 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 last quarter. 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.