Robert W. Baird Reaffirms "Neutral" Rating for Inari Medical (NASDAQ:NARI)

Robert W. Baird reiterated their neutral rating on shares of Inari Medical (NASDAQ:NARI - Free Report) in a report issued on Tuesday,Benzinga reports. They currently have a $80.00 price target on the stock, down from their previous price target of $81.00.

NARI has been the subject of several other research reports. Piper Sandler boosted their price target on shares of Inari Medical from $50.00 to $52.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. Truist Financial upped their target price on shares of Inari Medical from $50.00 to $63.00 and gave the stock a "hold" rating in a research note on Wednesday, December 18th. Oppenheimer began coverage on shares of Inari Medical in a research note on Tuesday, December 17th. They issued an "outperform" rating and a $75.00 target price for the company. Canaccord Genuity Group reaffirmed 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, Needham & Company LLC reaffirmed a "hold" rating on shares of Inari Medical in a research note on Tuesday, October 29th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $68.00.

Inari Medical Trading Up 22.2 %

Shares of NARI stock traded up $14.45 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. Inari Medical has a twelve month low of $36.73 and a twelve month 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 company has a fifty day moving average price of $52.85 and a two-hundred day moving average price of $48.92.

Insider Activity

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $55.29, for a total value of $165,870.00. Following the transaction, the chief executive officer now directly owns 439,310 shares of the company's stock, valued at $24,289,449.90. This represents a 0.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Hoffman sold 40,000 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the completion of the transaction, the director now directly owns 601,233 shares in the company, valued at approximately $27,067,509.66. This represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 206,000 shares of company stock valued at $10,527,870. 10.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NARI. Vestal Point Capital LP boosted its position in shares of Inari Medical by 342.9% during the 3rd quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company's stock worth $63,922,000 after acquiring an additional 1,200,000 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Inari Medical by 113.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company's stock worth $71,324,000 after acquiring an additional 786,691 shares in the last quarter. Armistice Capital LLC boosted its position in shares of Inari Medical by 353.1% during the 2nd quarter. Armistice Capital LLC now owns 1,009,252 shares of the company's stock worth $48,595,000 after acquiring an additional 786,501 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Inari Medical by 63.2% during the 3rd quarter. Jennison Associates LLC now owns 1,576,641 shares of the company's stock worth $65,021,000 after acquiring an additional 610,468 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Inari Medical by 101.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company's stock worth $32,790,000 after acquiring an additional 400,198 shares in the last quarter. 90.98% of the stock is owned by 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.