Inari Medical (NASDAQ:NARI) Receives New Coverage from Analysts at Leerink Partners

Leerink Partners assumed coverage on shares of Inari Medical (NASDAQ:NARI) in a research report sent to investors on Tuesday, Marketbeat Ratings reports. The brokerage issued a market perform rating and a $47.00 target price on the stock.

NARI has been the subject of several other reports. Truist Financial reaffirmed 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. William Blair began coverage on Inari Medical in a research report on Thursday, July 25th. They issued an outperform rating for the company. Wells Fargo & Company dropped their target price on Inari Medical from $84.00 to $65.00 and set an overweight rating for the company in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft initiated coverage on Inari Medical in a research note on Friday, August 9th. They issued a buy rating and a $68.00 price target on the stock. Finally, Canaccord Genuity Group upped their price objective on shares of Inari Medical from $55.00 to $71.00 and gave the company a buy rating in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $59.50.

Inari Medical Stock Down 3.2 %

Shares of NASDAQ:NARI opened at $41.68 on Tuesday. The company has a market capitalization of $2.42 billion, a P/E ratio of -101.66 and a beta of 1.00. Inari Medical has a 52-week low of $36.73 and a 52-week high of $69.40. The stock’s fifty day simple moving average is $49.39 and its 200-day simple moving average is $46.77.

Insiders Place Their Bets

In other news, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $50.08, for a total value of $150,240.00. Following the completion of the sale, the chief executive officer now owns 462,474 shares in the company, valued at $23,160,697.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Inari Medical news, CFO Mitch C. Hill sold 5,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $47.99, for a total value of $239,950.00. Following the transaction, the chief financial officer now owns 179,600 shares in the company, valued at approximately $8,619,004. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Hykes sold 3,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $50.08, for a total value of $150,240.00. Following the completion of the transaction, the chief executive officer now owns 462,474 shares in the company, valued at approximately $23,160,697.92. The disclosure for this sale can be found here. Insiders have sold a total of 117,780 shares of company stock worth $6,393,074 over the last quarter. 10.60% of the stock is owned by corporate insiders.

Institutional Trading of Inari Medical

A number of hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. boosted its stake in Inari Medical by 113.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock valued at $71,324,000 after acquiring an additional 786,691 shares during the last quarter. Armistice Capital LLC grew its stake in Inari Medical by 353.1% in the second quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock worth $48,595,000 after purchasing an additional 786,501 shares in the last quarter. Vanguard Group Inc. increased its holdings in Inari Medical by 11.1% in the first quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock valued at $268,681,000 after buying an additional 561,562 shares during the last quarter. Norges Bank bought a new position in Inari Medical during the 4th quarter worth approximately $29,491,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Inari Medical by 1,219.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 394,901 shares of the company’s stock worth $19,014,000 after acquiring an additional 364,983 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

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.