Inari Medical (NASDAQ:NARI) PT Lowered to $63.00

Inari Medical (NASDAQ:NARI) had its price target lowered by Robert W. Baird from $65.00 to $63.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

NARI has been the subject of several other research reports. Needham & Company LLC reaffirmed a hold rating on shares of Inari Medical in a research note on Wednesday. Canaccord Genuity Group decreased their target price on Inari Medical from $75.00 to $55.00 and set a buy rating for the company in a research note on Wednesday, May 1st. William Blair assumed coverage on Inari Medical in a research note on Thursday, July 25th. They set an outperform rating for the company. Piper Sandler decreased their target price on Inari Medical from $55.00 to $50.00 and set a neutral rating for the company in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company decreased their target price on Inari Medical from $100.00 to $84.00 and set an overweight rating for the company in a research note on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $60.17.

Inari Medical Trading Down 1.2 %

Shares of NARI stock opened at $47.31 on Wednesday. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of -115.39 and a beta of 1.01. The stock has a 50-day moving average of $50.14 and a 200-day moving average of $48.69. Inari Medical has a 1-year low of $36.73 and a 1-year high of $71.85.

Insider Activity

In other news, Director William Hoffman sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $56.74, for a total value of $3,404,400.00. Following the transaction, the director now owns 743,296 shares in the company, valued at $42,174,615.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director William Hoffman sold 60,000 shares of Inari Medical stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $56.74, for a total transaction of $3,404,400.00. Following the sale, the director now directly owns 743,296 shares in the company, valued at $42,174,615.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas Tu sold 16,520 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $55.09, for a total value of $910,086.80. Following the completion of the sale, the insider now directly owns 313,257 shares of the company’s stock, valued at $17,257,328.13. The disclosure for this sale can be found here. Insiders have sold 222,744 shares of company stock worth $11,494,500 over the last 90 days. 10.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Inari Medical

Hedge funds have recently made changes to their positions in the stock. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Inari Medical in the first quarter valued at $30,000. GAMMA Investing LLC grew its position in shares of Inari Medical by 164.7% in the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after purchasing an additional 438 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of 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 purchasing an additional 435 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Inari Medical by 27.4% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock valued at $71,000 after purchasing an additional 236 shares in the last quarter. Finally, Covestor Ltd grew its position in shares of Inari Medical by 30.2% in the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after purchasing an additional 376 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

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.