Inari Medical (NASDAQ:NARI) Earns Hold Rating from Canaccord Genuity Group

Inari Medical (NASDAQ:NARI)‘s stock had its “hold” rating reiterated by stock analysts at Canaccord Genuity Group in a note issued to investors on Tuesday,Benzinga reports. They currently have a $80.00 price objective on the stock, up from their previous price objective of $74.00. Canaccord Genuity Group’s target price points to a potential upside of 23.08% from the company’s previous close.

Several other equities research analysts also recently issued reports on NARI. Truist Financial lifted their price target 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. Piper Sandler boosted their price target on Inari Medical from $50.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Oppenheimer assumed coverage on Inari Medical in a research note on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price objective for the company. Stifel Nicolaus started coverage on Inari Medical in a report on Tuesday, September 17th. They set a “hold” rating and a $50.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $63.70.

Inari Medical Stock Up 30.6 %

Shares of NASDAQ:NARI opened at $65.00 on Tuesday. The company has a 50 day moving average of $52.24 and a two-hundred day moving average of $48.69. Inari Medical has a 52-week low of $36.73 and a 52-week high of $65.94. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of -48.15 and a beta of 0.97.

Insider Buying and Selling

In other news, Director William Hoffman sold 40,000 shares of the stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 value of $150,000.00. Following the completion of the sale, the chief executive officer now directly owns 445,310 shares in the company, valued at approximately $22,265,500. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,000 shares of company stock worth $10,527,870 over the last ninety days. 10.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NARI. GAMMA Investing LLC boosted its holdings in shares of Inari Medical by 67.2% during 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 during the period. KBC Group NV lifted its position in Inari Medical by 39.0% in 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 last quarter. Benjamin F. Edwards & Company Inc. lifted its position 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 valued at $89,000 after purchasing an additional 522 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Inari Medical during the 2nd quarter valued at about $104,000. Finally, Quest Partners LLC grew its position in Inari Medical by 31,257.1% in the 2nd quarter. Quest Partners LLC now owns 2,195 shares of the company’s stock worth $106,000 after purchasing an additional 2,188 shares during the last quarter. 90.98% of the stock is currently 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.