Inari Medical (NASDAQ:NARI) Sets New 52-Week High – What’s Next?

Inari Medical, Inc. (NASDAQ:NARIGet Free Report)’s stock price reached a new 52-week high on Friday . The company traded as high as $79.76 and last traded at $79.74, with a volume of 1661192 shares. The stock had previously closed at $79.46.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Oppenheimer initiated coverage on shares of Inari Medical in a report on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 price objective for the company. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Truist Financial raised their target price on shares of Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. BTIG Research reiterated a “neutral” rating on shares of Inari Medical in a research report on Wednesday, January 8th. Finally, Piper Sandler lifted their price objective on shares of Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Inari Medical presently has a consensus rating of “Hold” and an average price target of $68.00.

Get Our Latest Stock Report on Inari Medical

Inari Medical Trading Up 0.4 %

The firm’s 50 day moving average is $59.21 and its two-hundred day moving average is $51.30. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of -59.07 and a beta of 0.97.

Insider Activity at Inari Medical

In other news, Director William Hoffman sold 60,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $51.16, for a total transaction 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. The trade was a 10.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Hykes sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total value of $150,000.00. Following the sale, the chief executive officer now owns 445,310 shares of the company’s stock, valued at $22,265,500. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 366,000 shares of company stock valued at $20,821,070. 10.60% of the stock is owned by insiders.

Institutional Trading of Inari Medical

Institutional investors have recently modified their holdings of the company. Vestal Point Capital LP grew its position in Inari Medical by 342.9% in the third quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock valued at $63,922,000 after acquiring an additional 1,200,000 shares in the last quarter. Point72 Asset Management L.P. grew its position in Inari Medical by 113.3% in the second quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock valued at $71,324,000 after acquiring an additional 786,691 shares in the last quarter. Armistice Capital LLC grew its position in Inari Medical by 353.1% in the second quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock valued at $48,595,000 after acquiring an additional 786,501 shares in the last quarter. Jennison Associates LLC grew its position in Inari Medical by 63.2% in the third quarter. Jennison Associates LLC now owns 1,576,641 shares of the company’s stock valued at $65,021,000 after acquiring an additional 610,468 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Inari Medical by 101.3% in the third quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company’s stock valued at $32,790,000 after acquiring an additional 400,198 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

About Inari Medical

(Get Free Report)

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.

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