BTIG Research Reaffirms “Neutral” Rating for Inari Medical (NASDAQ:NARI)

Inari Medical (NASDAQ:NARI)‘s stock had its “neutral” rating reissued by analysts at BTIG Research in a research note issued on Wednesday,Benzinga reports.

NARI has been the subject of a number of other reports. Canaccord Genuity Group restated a “hold” rating and set a $80.00 price objective (up from $74.00) on shares of Inari Medical in a research report on Tuesday. Oppenheimer initiated coverage on shares of Inari Medical in a report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price target for the company. Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price objective (down previously from $81.00) on shares of Inari Medical in a research note on Tuesday. William Blair reissued a “market perform” rating on shares of Inari Medical in a research note on Tuesday. Finally, Piper Sandler boosted their price target on shares of Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.00.

Inari Medical Trading Up 0.1 %

NASDAQ:NARI traded up $0.04 during trading hours on Wednesday, hitting $79.49. 5,267,215 shares of the stock traded hands, compared to its average volume of 9,018,098. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of -58.88 and a beta of 0.97. The firm has a 50 day moving average price of $52.85 and a 200 day moving average price of $48.92. Inari Medical has a fifty-two week low of $36.73 and a fifty-two week high of $79.69.

Insider Buying and Selling

In related 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 completion of the transaction, the chief executive officer now owns 439,310 shares of the company’s stock, valued at $24,289,449.90. This represents a 0.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William Hoffman sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $51.16, for a total value of $3,069,600.00. Following the completion of the sale, the director now owns 501,233 shares in the company, valued at approximately $25,643,080.28. This represents a 10.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 206,000 shares of company stock valued at $10,527,870. Company insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

Several institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in shares of Inari Medical by 67.2% in the 3rd 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 boosted its position in shares of Inari Medical by 39.0% during the third quarter. KBC Group NV now owns 1,774 shares of the company’s stock worth $73,000 after buying an additional 498 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Inari Medical by 39.4% in the second 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. Covestor Ltd increased its position in shares of Inari Medical by 63.5% in the third quarter. Covestor Ltd now owns 2,384 shares of the company’s stock valued at $99,000 after acquiring an additional 926 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Inari Medical during the 2nd quarter worth approximately $104,000. Institutional investors and hedge funds 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.