William Blair Reaffirms Market Perform Rating for Inari Medical (NASDAQ:NARI)

Inari Medical (NASDAQ:NARI - Get Free Report)'s stock had its "market perform" rating reissued by analysts at William Blair in a note issued to investors on Tuesday, Marketbeat reports.

A number of other brokerages have also recently weighed in on NARI. Stifel Nicolaus initiated 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. Piper Sandler increased their price target on Inari Medical from $52.00 to $80.00 and gave the stock a "neutral" rating in a research report on Tuesday. Robert W. Baird restated a "neutral" rating and set a $80.00 price objective (down from $81.00) on shares of Inari Medical in a research note on Tuesday. Canaccord Genuity Group reiterated a "hold" rating and issued a $80.00 target price (up from $74.00) on shares of Inari Medical in a research note on Tuesday. Finally, Oppenheimer initiated coverage on shares of Inari Medical in a research report on Tuesday, December 17th. They set an "outperform" rating and a $75.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $68.00.

Inari Medical Trading Up 22.2 %

Inari Medical stock traded up $14.45 during midday trading on Tuesday, hitting $79.45. The stock had a trading volume of 24,469,891 shares, compared to its average volume of 9,994,396. The business has a fifty day moving average price of $52.24 and a 200 day moving average price of $48.69. Inari Medical has a 12 month low of $36.73 and a 12 month high of $79.50. The stock has a market cap of $4.65 billion, a P/E ratio of -58.85 and a beta of 0.97.

Insider Buying and Selling at Inari Medical

In related news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total value of $150,000.00. Following the transaction, the chief executive officer now owns 445,310 shares of the company's stock, valued at approximately $22,265,500. This trade represents a 0.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William Hoffman sold 40,000 shares of the business's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.05, for a total transaction of $2,002,000.00. Following the sale, the director now owns 561,233 shares in the company, valued at $28,089,711.65. This represents a 6.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 206,000 shares of company stock valued at $10,527,870. 10.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Inari Medical

Several institutional investors and hedge funds have recently modified their holdings of NARI. GAMMA Investing LLC increased its position in Inari Medical by 66.8% during the fourth quarter. GAMMA Investing LLC now owns 1,963 shares of the company's stock worth $100,000 after buying an additional 786 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Inari Medical by 2.2% in the 3rd quarter. Franklin Resources Inc. now owns 223,810 shares of the company's stock valued at $9,445,000 after acquiring an additional 4,899 shares in the last quarter. Barclays PLC raised its stake in shares of Inari Medical by 9.7% in the 3rd quarter. Barclays PLC now owns 288,079 shares of the company's stock valued at $11,881,000 after acquiring an additional 25,365 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in Inari Medical by 316.7% during the third quarter. Y Intercept Hong Kong Ltd now owns 44,318 shares of the company's stock worth $1,828,000 after purchasing an additional 33,682 shares during the period. Finally, Jane Street Group LLC boosted its position in Inari Medical by 32.4% during the third quarter. Jane Street Group LLC now owns 95,223 shares of the company's stock worth $3,927,000 after purchasing an additional 23,286 shares during the period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

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.