Inari Medical, Inc. (NASDAQ:NARI - Get Free Report) was the target of unusually large options trading activity on Tuesday. Stock investors bought 11,622 call options on the company. This represents an increase of 2,174% compared to the typical daily volume of 511 call options.
Insiders Place Their Bets
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 value of $1,800,800.00. Following the completion of the sale, the director now directly owns 601,233 shares in the company, 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 legal filing with the SEC, which is available through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the company's stock in a transaction dated Friday, December 20th. The stock was 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 of the company's stock, valued at approximately $24,289,449.90. This trade represents a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,000 shares of company stock worth $10,527,870 in the last three months. Corporate insiders own 10.60% of the company's stock.
Institutional Trading of Inari Medical
Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in Inari Medical by 67.2% in the third quarter. GAMMA Investing LLC now owns 1,177 shares of the company's stock valued at $49,000 after purchasing an additional 473 shares during the last quarter. KBC Group NV grew its holdings in Inari Medical by 39.0% during the third quarter. KBC Group NV now owns 1,774 shares of the company's stock worth $73,000 after acquiring an additional 498 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in Inari Medical by 39.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company's stock valued at $89,000 after acquiring an additional 522 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Inari Medical in the second quarter valued at approximately $104,000. Finally, Quest Partners LLC boosted its position in Inari Medical by 31,257.1% in the 2nd quarter. Quest Partners LLC now owns 2,195 shares of the company's stock worth $106,000 after purchasing an additional 2,188 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently commented on NARI. William Blair reissued a "market perform" rating on shares of Inari Medical in a research report on Tuesday. Stifel Nicolaus initiated coverage on Inari Medical in a research report on Tuesday, September 17th. They set a "hold" rating and a $50.00 price target on the stock. Oppenheimer started coverage on Inari Medical in a research report on Tuesday, December 17th. They issued an "outperform" rating and a $75.00 price objective for the company. Robert W. Baird reaffirmed a "neutral" rating and set a $80.00 target price (down from $81.00) on shares of Inari Medical in a research report on Tuesday. Finally, Wells Fargo & Company reiterated an "equal weight" rating and issued a $80.00 price target (up from $65.00) on shares of Inari Medical in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Inari Medical has an average rating of "Hold" and a consensus target price of $68.00.
Check Out Our Latest Research Report on Inari Medical
Inari Medical Price Performance
NASDAQ:NARI traded up $14.45 during midday trading on Tuesday, hitting $79.45. The company's stock had a trading volume of 24,469,891 shares, compared to its average volume of 9,994,396. Inari Medical has a fifty-two week low of $36.73 and a fifty-two week high of $79.50. The firm has a market cap of $4.65 billion, a P/E ratio of -58.85 and a beta of 0.97. The firm's 50 day moving average is $52.85 and its 200-day moving average is $48.92.
Inari Medical Company Profile
(
Get Free Report)
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.
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