Inari Medical (NASDAQ:NARI) Shares Down 4.2% - Here's What Happened

Shares of Inari Medical, Inc. (NASDAQ:NARI - Get Free Report) traded down 4.2% on Friday . The stock traded as low as $49.40 and last traded at $49.60. 412,108 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 614,661 shares. The stock had previously closed at $51.80.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Robert W. Baird raised their price target on Inari Medical from $66.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th. Needham & Company LLC restated a "hold" rating on shares of Inari Medical in a report on Tuesday, October 29th. Oppenheimer began coverage on shares of Inari Medical in a research note on Tuesday, December 17th. They set an "outperform" rating and a $75.00 price objective on the stock. Canaccord Genuity Group boosted their price objective on shares of Inari Medical from $71.00 to $74.00 and gave the stock a "buy" rating in a research note on Tuesday, October 29th. Finally, Stifel Nicolaus started coverage on Inari Medical in a research report on Tuesday, September 17th. They set a "hold" rating and a $50.00 target price on the stock. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $61.80.

Inari Medical Stock Down 3.9 %

The company has a market capitalization of $2.91 billion, a PE ratio of -36.87 and a beta of 0.97. The business has a 50 day simple moving average of $51.80 and a 200 day simple moving average of $48.51.

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

Institutional Trading of Inari Medical

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in shares of Inari Medical by 67.2% during the third quarter. GAMMA Investing LLC now owns 1,177 shares of the company's stock worth $49,000 after purchasing an additional 473 shares during the last quarter. KBC Group NV grew its position in Inari Medical by 39.0% during the 3rd quarter. KBC Group NV now owns 1,774 shares of the company's stock worth $73,000 after purchasing an additional 498 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in Inari Medical by 39.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company's stock worth $89,000 after purchasing an additional 522 shares during the period. Covestor Ltd lifted its holdings in shares of Inari Medical by 63.5% in the 3rd quarter. Covestor Ltd now owns 2,384 shares of the company's stock valued at $99,000 after buying an additional 926 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Inari Medical in the second quarter worth about $104,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.