Piper Sandler Raises Inari Medical (NASDAQ:NARI) Price Target to $80.00

Inari Medical (NASDAQ:NARI - Get Free Report) had its target price boosted by equities researchers at Piper Sandler from $52.00 to $80.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's price objective suggests a potential upside of 0.69% from the stock's previous close.

A number of other research firms also recently weighed in on NARI. Oppenheimer began coverage on shares of Inari Medical in a research report on Tuesday, December 17th. They issued an "outperform" rating and a $75.00 target price on the stock. Stifel Nicolaus initiated coverage on shares of Inari Medical in a report on Tuesday, September 17th. They issued a "hold" rating and a $50.00 price objective on the stock. Truist Financial lifted their target price on shares of Inari Medical from $50.00 to $63.00 and gave the company a "hold" rating in a report on Wednesday, December 18th. Needham & Company LLC restated a "hold" rating on shares of Inari Medical in a research note on Tuesday, October 29th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $80.00 target price (down from $81.00) on shares of Inari Medical in a report on Tuesday. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $68.00.

Inari Medical Price Performance

NARI 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 50-day moving average of $52.85 and a two-hundred day moving average of $48.92. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of -58.85 and a beta of 0.97. Inari Medical has a 52-week low of $36.73 and a 52-week high of $79.50.

Insider Buying and Selling at Inari Medical

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the business'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 owns 439,310 shares of the company's stock, valued at approximately $24,289,449.90. The trade was a 0.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William Hoffman sold 40,000 shares of the firm's 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 transaction, the director now directly owns 601,233 shares in the company, valued at $27,067,509.66. This trade represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,000 shares of company stock worth $10,527,870. Insiders own 10.60% of the company's stock.

Institutional Investors Weigh In On Inari Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of 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 acquiring an additional 473 shares in the last quarter. KBC Group NV raised its stake in Inari Medical by 39.0% during the 3rd quarter. KBC Group NV now owns 1,774 shares of the company's stock valued at $73,000 after purchasing an additional 498 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in Inari Medical by 39.4% in 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 in the last quarter. Covestor Ltd boosted its stake in Inari Medical by 63.5% in the 3rd quarter. Covestor Ltd now owns 2,384 shares of the company's stock worth $99,000 after purchasing an additional 926 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Inari Medical during the 2nd quarter valued at approximately $104,000. 90.98% of the stock is 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.