Inari Medical (NASDAQ:NARI) Given Neutral Rating at Robert W. Baird

Robert W. Baird reaffirmed their neutral rating on shares of Inari Medical (NASDAQ:NARI) in a research note released on Tuesday,Benzinga reports. Robert W. Baird currently has a $80.00 price objective on the stock, down from their previous price objective of $81.00.

Other research analysts have also recently issued research reports about the stock. Piper Sandler increased their target price on shares of Inari Medical from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Oppenheimer assumed coverage on shares of Inari Medical in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 price objective for the company. Canaccord Genuity Group reaffirmed a “hold” rating and set a $80.00 target price (up previously from $74.00) on shares of Inari Medical in a research note on Tuesday. Stifel Nicolaus began coverage on Inari Medical in a research note on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price target for the company. Finally, Truist Financial boosted their price objective on Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $68.00.

Inari Medical Price Performance

Shares of NARI opened at $79.45 on Tuesday. Inari Medical has a one year low of $36.73 and a one year high of $79.50. The company has a market cap of $4.65 billion, a P/E ratio of -58.85 and a beta of 0.97. The firm has a 50 day simple moving average of $52.85 and a two-hundred day simple moving average of $48.92.

Insider Activity

In related news, CEO Andrew Hykes sold 3,000 shares of the company’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 sale, the chief executive officer now directly owns 445,310 shares in the company, valued at $22,265,500. This represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William Hoffman sold 40,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.05, for a total transaction of $2,002,000.00. Following the sale, the director now directly owns 561,233 shares of the company’s stock, valued at $28,089,711.65. This represents a 6.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 206,000 shares of company stock valued at $10,527,870. Company insiders own 10.60% of the company’s stock.

Hedge Funds Weigh In On Inari Medical

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jennison Associates LLC raised its position in shares of Inari Medical by 63.2% in the 3rd quarter. Jennison Associates LLC now owns 1,576,641 shares of the company’s stock worth $65,021,000 after acquiring an additional 610,468 shares in the last quarter. Vestal Point Capital LP increased its holdings 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 worth $63,922,000 after purchasing an additional 1,200,000 shares in the last quarter. Point72 Asset Management L.P. lifted its stake 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 buying an additional 786,691 shares during the period. Armistice Capital LLC boosted its holdings in shares of Inari Medical by 353.1% during the 2nd quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock worth $48,595,000 after buying an additional 786,501 shares in the last quarter. Finally, Bamco Inc. NY grew its position in shares of Inari Medical by 29.5% during the 3rd quarter. Bamco Inc. NY now owns 1,006,129 shares of the company’s stock worth $41,493,000 after buying an additional 228,977 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

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.