Inari Medical, Inc. (NASDAQ:NARI) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Inari Medical, Inc. (NASDAQ:NARI) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $61.29.

NARI has been the subject of a number of research analyst reports. Truist Financial reissued a “hold” rating and issued a $55.00 target price (down from $60.00) on shares of Inari Medical in a research note on Wednesday, July 31st. Piper Sandler lowered 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Inari Medical in a report on Friday, August 9th. They set a “buy” rating and a $68.00 target price on the stock. Canaccord Genuity Group increased their price objective on shares of Inari Medical from $55.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company dropped their price objective on shares of Inari Medical from $84.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st.

Insider Transactions at Inari Medical

In other news, Director Rebecca Chambers sold 964 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $45.39, for a total value of $43,755.96. Following the sale, the director now owns 9,944 shares of the company’s stock, valued at $451,358.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $50.00, for a total transaction of $150,000.00. Following the sale, the chief executive officer now owns 465,474 shares in the company, valued at $23,273,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rebecca Chambers sold 964 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $45.39, for a total value of $43,755.96. Following the completion of the transaction, the director now owns 9,944 shares of the company’s stock, valued at $451,358.16. The disclosure for this sale can be found here. Insiders sold 181,744 shares of company stock valued at $9,594,630 in the last ninety days. 10.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Inari Medical

Institutional investors and hedge funds have recently made changes to their positions in the stock. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Inari Medical during the first quarter worth $30,000. GAMMA Investing LLC grew its position in shares of Inari Medical by 164.7% in the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after acquiring an additional 438 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Inari Medical by 83.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after purchasing an additional 435 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Inari Medical by 27.4% in the 4th 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 during the period. Finally, Covestor Ltd lifted its stake in Inari Medical by 30.2% in the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after purchasing an additional 376 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

Inari Medical Stock Down 1.0 %

Shares of NARI stock opened at $49.16 on Friday. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of -119.80 and a beta of 1.01. Inari Medical has a 12-month low of $36.73 and a 12-month high of $70.25. The firm has a fifty day moving average of $49.76 and a 200-day moving average of $48.10.

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.