Inari Medical (NASDAQ:NARI) Given Neutral Rating at Piper Sandler

Inari Medical (NASDAQ:NARI)‘s stock had its “neutral” rating reaffirmed by Piper Sandler in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $50.00 target price on the stock. Piper Sandler’s price objective indicates a potential upside of 15.74% from the stock’s current price.

Several other equities analysts have also recently issued reports on the stock. Canaccord Genuity Group boosted their target price on shares of Inari Medical from $55.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. William Blair started coverage on shares of Inari Medical in a research report on Thursday, July 25th. They set an “outperform” rating for the company. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft started coverage on shares of Inari Medical in a research report on Friday, August 9th. They set a “buy” rating and a $68.00 price objective for the company. Finally, Truist Financial restated a “hold” rating and set a $55.00 price objective (down from $60.00) on shares of Inari Medical in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Inari Medical presently has an average rating of “Moderate Buy” and an average target price of $61.29.

Inari Medical Stock Performance

Shares of NARI traded down $0.14 during trading hours on Monday, hitting $43.20. The stock had a trading volume of 299,192 shares, compared to its average volume of 1,023,795. The firm has a 50-day moving average price of $49.84 and a 200 day moving average price of $47.56. Inari Medical has a fifty-two week low of $36.73 and a fifty-two week high of $70.25. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -104.66 and a beta of 1.01.

Insider Activity at Inari Medical

In related news, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $50.00, for a total value of $150,000.00. Following the completion of the sale, the chief executive officer now owns 465,474 shares of the company’s stock, valued at $23,273,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Inari Medical news, Director William Hoffman sold 60,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $50.13, for a total transaction of $3,007,800.00. Following the completion of the transaction, the director now owns 865,359 shares of the company’s stock, valued at $43,380,446.67. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $50.00, for a total transaction of $150,000.00. Following the transaction, the chief executive officer now directly owns 465,474 shares of the company’s stock, valued at approximately $23,273,700. The disclosure for this sale can be found here. Over the last quarter, insiders sold 180,780 shares of company stock valued at $9,550,874. 10.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. boosted its stake in Inari Medical by 1.8% during the fourth quarter. D.A. Davidson & CO. now owns 10,570 shares of the company’s stock worth $686,000 after buying an additional 188 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in Inari Medical by 27.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock worth $71,000 after buying an additional 236 shares during the period. Bessemer Group Inc. boosted its stake in Inari Medical by 16.4% during the first quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock worth $117,000 after buying an additional 344 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Inari Medical by 7.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock worth $234,000 after buying an additional 348 shares during the period. Finally, Arizona State Retirement System boosted its stake in Inari Medical by 2.5% during the second quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock worth $703,000 after buying an additional 358 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Inari Medical Company Profile

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.