Inari Medical (NASDAQ:NARI) Sets New 1-Year High – Should You Buy?

Shares of Inari Medical, Inc. (NASDAQ:NARI) reached a new 52-week high on Tuesday . The company traded as high as $79.99 and last traded at $79.98, with a volume of 1372 shares. The stock had previously closed at $79.93.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Robert W. Baird restated a “neutral” rating and set a $80.00 price target (down from $81.00) on shares of Inari Medical in a research note on Tuesday, January 7th. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Piper Sandler raised their target price on Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Wells Fargo & Company reissued an “equal weight” rating and issued a $80.00 price target (up previously from $65.00) on shares of Inari Medical in a report on Tuesday, January 7th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Inari Medical in a report on Wednesday, January 8th. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.00.

Inari Medical Stock Up 0.1 %

The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of -59.24 and a beta of 1.02. The stock’s 50-day simple moving average is $69.60 and its 200 day simple moving average is $54.60.

Insider Buying and Selling

In related news, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $55.29, for a total transaction of $165,870.00. Following the transaction, the chief executive officer now owns 439,310 shares in the company, valued at $24,289,449.90. This represents a 0.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Hoffman sold 60,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $55.66, for a total transaction of $3,339,600.00. Following the sale, the director now directly owns 441,233 shares in the company, valued at $24,559,028.78. This trade represents a 11.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 263,000 shares of company stock worth $15,599,470 in the last three months. Insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

A number of institutional investors and hedge funds have recently made changes to their positions in NARI. Smartleaf Asset Management LLC raised its holdings in Inari Medical by 128.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 634 shares of the company’s stock worth $33,000 after purchasing an additional 356 shares during the last quarter. R Squared Ltd bought a new stake in shares of Inari Medical during the 4th quarter valued at $45,000. Quarry LP acquired a new stake in shares of Inari Medical during the fourth quarter worth $57,000. Quadrant Capital Group LLC increased its holdings in Inari Medical by 12.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,301 shares of the company’s stock valued at $66,000 after purchasing an additional 143 shares during the last quarter. Finally, KBC Group NV lifted 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 valued at $73,000 after buying an additional 498 shares during the period. Institutional investors 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.