Inari Medical (NASDAQ:NARI) Sees Large Volume Increase


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Inari Medical, Inc. (NASDAQ:NARI) shares saw an uptick in trading volume on Thursday . 12,357 shares traded hands during trading, a decline of 98% from the previous session’s volume of 600,904 shares.The stock last traded at $111.17 and had previously closed at $111.01.

A number of equities analysts have weighed in on NARI shares. BTIG Research lifted their price target on shares of Inari Medical from $125.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, March 10th. Morgan Stanley lifted their price target on shares of Inari Medical from $85.00 to $126.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 16th. Wells Fargo & Company lifted their target price on Inari Medical from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 16th. Canaccord Genuity reissued a “buy” rating and set a $129.00 price target (up previously from $94.00) on shares of Inari Medical in a research report on Tuesday, March 16th. Finally, SVB Leerink increased their price objective on shares of Inari Medical from $116.00 to $126.00 and gave the company an “outperform” rating in a research note on Tuesday, March 16th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Inari Medical presently has a consensus rating of “Buy” and a consensus price target of $110.86.

The firm has a 50 day moving average price of $108.01 and a two-hundred day moving average price of $86.31.

Inari Medical (NASDAQ:NARI) last posted its quarterly earnings data on Monday, March 8th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. The firm had revenue of $48.60 million for the quarter, compared to analysts’ expectations of $41.49 million. The firm’s revenue was up 144.2% compared to the same quarter last year. Sell-side analysts anticipate that Inari Medical, Inc. will post 0.15 EPS for the current year.

In other Inari Medical news, CFO Mitch C. Hill sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 8th. The stock was sold at an average price of $82.82, for a total transaction of $414,100.00. Following the completion of the sale, the chief financial officer now owns 62,500 shares of the company’s stock, valued at $5,176,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donald B. Milder sold 7,000 shares of the stock in a transaction that occurred on Monday, January 11th. The shares were sold at an average price of $84.59, for a total value of $592,130.00. Following the transaction, the director now owns 239,841 shares in the company, valued at approximately $20,288,150.19. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,826,806 shares of company stock valued at $201,543,234.

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new stake in Inari Medical during the 3rd quarter valued at approximately $896,000. Lord Abbett & CO. LLC increased its position in Inari Medical by 643.5% during the fourth quarter. Lord Abbett & CO. LLC now owns 625,400 shares of the company’s stock worth $54,591,000 after acquiring an additional 541,283 shares during the period. Ieq Capital LLC acquired a new position in Inari Medical during the 4th quarter valued at $3,755,000. BlackRock Inc. boosted its holdings in Inari Medical by 8.7% in the 4th quarter. BlackRock Inc. now owns 592,758 shares of the company’s stock valued at $51,743,000 after purchasing an additional 47,455 shares during the period. Finally, US Bancorp DE bought a new position in shares of Inari Medical during the 4th quarter worth about $118,000. Institutional investors own 17.77% of the company’s stock.

About Inari Medical (NASDAQ:NARI)

Inari Medical, Inc, a commercial-stage medical device company, focuses on developing products to treat and transform the lives of patients suffering from venous diseases in the United States. It offers ClotTriever for treatment of deep vein thrombosis; and FlowTriever, a thrombectomy system for treatment of pulmonary embolism.

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