Inari Medical (NASDAQ:NARI) Stock Price Up 4.3% – What’s Next?

Inari Medical, Inc. (NASDAQ:NARI)’s share price shot up 4.3% on Friday . The company traded as high as $51.42 and last traded at $51.38. 174,198 shares were traded during mid-day trading, a decline of 82% from the average session volume of 988,941 shares. The stock had previously closed at $49.24.

Analyst Ratings Changes

NARI has been the topic of several research analyst reports. Canaccord Genuity Group upped their target price on Inari Medical from $71.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Leerink Partnrs upgraded shares of Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Wells Fargo & Company reduced their target price on Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Inari Medical in a research note on Friday, August 9th. They set a “buy” rating and a $68.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $58.89.

Inari Medical Price Performance

The firm has a market cap of $2.95 billion, a PE ratio of -36.47 and a beta of 0.96. The business’s 50 day moving average price is $45.09 and its 200 day moving average price is $46.85.

Insider Buying and Selling at Inari Medical

In related news, Director William Hoffman sold 40,000 shares of the company’s 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 sale, the director now owns 601,233 shares of the company’s stock, valued at approximately $27,067,509.66. This represents a 6.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total transaction 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 $22,265,500. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 126,000 shares of company stock valued at $5,921,390 over the last quarter. 10.60% of the stock is currently owned by insiders.

Institutional Trading of Inari Medical

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. grew its position in Inari Medical by 16.4% in the first quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock worth $117,000 after acquiring an additional 344 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Inari Medical by 7.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock worth $234,000 after purchasing an additional 348 shares during the period. Arizona State Retirement System increased its position in shares of Inari Medical by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock worth $703,000 after purchasing an additional 358 shares during the last quarter. Covestor Ltd raised its holdings in Inari Medical by 30.2% in the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after buying an additional 376 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in Inari Medical by 83.5% in the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after buying an additional 435 shares during the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

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.