Inari Medical (NASDAQ:NARI) Stock Rating Lowered by Baird R W

Inari Medical (NASDAQ:NARIGet Free Report) was downgraded by Baird R W from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Canaccord Genuity Group reiterated a “hold” rating and set a $80.00 price target (up from $74.00) on shares of Inari Medical in a research note on Tuesday. William Blair reaffirmed a “market perform” rating on shares of Inari Medical in a research note on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a research report on Tuesday, October 29th. Truist Financial raised their price target on Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Finally, Piper Sandler lifted their price target on Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $68.00.

View Our Latest Stock Analysis on NARI

Inari Medical Price Performance

NASDAQ:NARI opened at $79.30 on Tuesday. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of -58.74 and a beta of 0.97. The firm’s fifty day moving average price is $52.85 and its 200 day moving average price is $48.92. Inari Medical has a 1-year low of $36.73 and a 1-year high of $79.69.

Insiders Place Their Bets

In related news, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $55.29, for a total transaction of $165,870.00. Following the completion of the sale, the chief executive officer now directly owns 439,310 shares of the company’s stock, valued at approximately $24,289,449.90. This represents a 0.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the sale, the director now directly owns 601,233 shares in the company, valued at $27,067,509.66. This trade represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 406,000 shares of company stock valued at $22,621,870 in the last quarter. 10.60% of the stock is currently owned by company insiders.

Institutional Trading of Inari Medical

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in Inari Medical by 67.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock worth $49,000 after acquiring an additional 473 shares in the last quarter. KBC Group NV grew its stake in Inari Medical by 39.0% in the third quarter. KBC Group NV now owns 1,774 shares of the company’s stock worth $73,000 after purchasing an additional 498 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Inari Medical by 39.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after purchasing an additional 522 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Inari Medical in the second quarter valued at about $104,000. Finally, Quest Partners LLC raised its stake in Inari Medical by 31,257.1% during the second quarter. Quest Partners LLC now owns 2,195 shares of the company’s stock valued at $106,000 after buying an additional 2,188 shares in the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

About Inari Medical

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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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Analyst Recommendations for Inari Medical (NASDAQ:NARI)

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