Inari Medical (NASDAQ:NARI) Given New $63.00 Price Target at Truist Financial

Inari Medical (NASDAQ:NARI - Get Free Report) had its price target lifted by stock analysts at Truist Financial from $50.00 to $63.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's price target would suggest a potential upside of 14.48% from the company's previous close.

NARI has been the subject of several other research reports. Leerink Partners began coverage on Inari Medical in a report on Tuesday, September 3rd. They issued a "market perform" rating and a $47.00 price objective for the company. Stifel Nicolaus initiated coverage on Inari Medical in a research note on Tuesday, September 17th. They issued a "hold" rating and a $50.00 price target for the company. Piper Sandler upped their price objective on Inari Medical from $50.00 to $52.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 29th. Leerink Partnrs raised shares of Inari Medical to a "hold" rating in a research note on Tuesday, September 3rd. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Inari Medical in a research report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Inari Medical presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.80.

Inari Medical Trading Down 2.0 %

Shares of NASDAQ NARI traded down $1.13 during midday trading on Wednesday, reaching $55.03. The company's stock had a trading volume of 1,297,859 shares, compared to its average volume of 992,969. The stock has a 50 day simple moving average of $49.30 and a 200-day simple moving average of $48.04. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of -40.76 and a beta of 0.97. Inari Medical has a fifty-two week low of $36.73 and a fifty-two week high of $67.10.

Insider Buying and Selling at Inari Medical

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total value of $150,000.00. Following the completion of the transaction, the chief executive officer now directly owns 445,310 shares in the company, valued at approximately $22,265,500. This represents a 0.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William Hoffman sold 40,000 shares of the business's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 203,000 shares of company stock worth $10,362,000 over the last quarter. Corporate insiders own 10.60% of the company's stock.

Institutional Investors Weigh In On Inari Medical

A number of institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. raised its stake in Inari Medical by 2.2% during the third quarter. Franklin Resources Inc. now owns 223,810 shares of the company's stock worth $9,445,000 after buying an additional 4,899 shares during the last quarter. Barclays PLC boosted its position in shares of Inari Medical by 9.7% during the 3rd quarter. Barclays PLC now owns 288,079 shares of the company's stock valued at $11,881,000 after purchasing an additional 25,365 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of Inari Medical by 316.7% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 44,318 shares of the company's stock valued at $1,828,000 after purchasing an additional 33,682 shares in the last quarter. Jane Street Group LLC grew its stake 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. Finally, Point72 DIFC Ltd bought a new position in shares of Inari Medical during the 3rd quarter worth approximately $9,008,000. Institutional investors own 90.98% of the company's stock.

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.