Inari Medical (NASDAQ:NARI) Trading Up 4.3% - Should You Buy?

Inari Medical, Inc. (NASDAQ:NARI - Get Free Report)'s stock price traded up 4.3% during mid-day trading on Friday . The company traded as high as $51.42 and last traded at $51.38. 174,198 shares traded hands during trading, a decline of 82% from the average session volume of 988,941 shares. The stock had previously closed at $49.24.

Analysts Set New Price Targets

Several research analysts have recently commented on NARI shares. Stifel Nicolaus assumed coverage on shares of Inari Medical in a report on Tuesday, September 17th. They set a "hold" rating and a $50.00 target price on the stock. Deutsche Bank Aktiengesellschaft began coverage on Inari Medical in a report on Friday, August 9th. They issued a "buy" rating and a $68.00 price objective for the company. Robert W. Baird increased their target price on Inari Medical from $66.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th. Wells Fargo & Company decreased their price target on Inari Medical from $84.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 31st. Finally, Canaccord Genuity Group upped their price objective on shares of Inari Medical from $71.00 to $74.00 and gave the stock a "buy" rating in a research report on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $58.89.

Inari Medical Stock Up 2.7 %

The business's 50 day simple moving average is $45.19 and its two-hundred day simple moving average is $47.01. The stock has a market cap of $2.96 billion, a P/E ratio of -37.45 and a beta of 0.96.

Insider Activity at Inari Medical

In other Inari Medical news, Director William Hoffman sold 40,000 shares of the business's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $45.83, for a total transaction of $1,833,200.00. Following the sale, the director now directly owns 643,296 shares of the company's stock, valued at $29,482,255.68. The trade was a 5.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Andrew Hykes sold 3,000 shares of the firm's stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the transaction, the chief executive officer now directly owns 445,310 shares of the company's stock, valued at $22,265,500. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 126,000 shares of company stock valued at $5,921,390 in the last 90 days. 10.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Inari Medical

Institutional investors and hedge funds have recently made changes to their positions in the stock. Swiss National Bank increased its position in shares of Inari Medical by 0.6% during the first quarter. Swiss National Bank now owns 102,300 shares of the company's stock worth $4,908,000 after buying an additional 600 shares during the period. ProShare Advisors LLC grew its holdings in Inari Medical by 4.7% during the 1st quarter. ProShare Advisors LLC now owns 12,319 shares of the company's stock worth $591,000 after acquiring an additional 553 shares during the period. Vanguard Group Inc. grew its holdings in Inari Medical by 11.1% during the 1st quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company's stock worth $268,681,000 after acquiring an additional 561,562 shares during the period. Ontario Teachers Pension Plan Board lifted its stake in shares of Inari Medical by 80.7% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 80,180 shares of the company's stock valued at $3,847,000 after purchasing an additional 35,807 shares during the period. Finally, Covestor Ltd lifted its stake in shares of Inari Medical by 30.2% in the 1st quarter. Covestor Ltd now owns 1,619 shares of the company's stock valued at $78,000 after purchasing an additional 376 shares during the period. 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.