Inari Medical (NASDAQ:NARI) Shares Up 3.7%

Inari Medical, Inc. (NASDAQ:NARI)’s share price traded up 3.7% on Wednesday . The company traded as high as $45.38 and last traded at $45.34. 46,277 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 1,012,948 shares. The stock had previously closed at $43.74.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NARI shares. Canaccord Genuity Group lifted their price objective on Inari Medical from $55.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. William Blair started coverage on Inari Medical in a research report on Thursday, July 25th. They set an “outperform” rating for the company. Leerink Partners started coverage on Inari Medical in a report on Tuesday. They issued a “market perform” rating and a $47.00 price objective on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a report on Wednesday, July 31st. Finally, Leerink Partnrs raised shares of Inari Medical to a “hold” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.50.

Inari Medical Price Performance

The stock has a market cap of $2.42 billion, a PE ratio of -101.66 and a beta of 1.00. The stock’s fifty day moving average is $49.39 and its 200-day moving average is $46.77.

Insider Buying and Selling at Inari Medical

In other news, Director William Hoffman sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $56.74, for a total transaction of $3,404,400.00. Following the completion of the sale, the director now owns 743,296 shares in the company, valued at approximately $42,174,615.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $50.08, for a total transaction of $150,240.00. Following the completion of the transaction, the chief executive officer now owns 462,474 shares of the company’s stock, valued at $23,160,697.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William Hoffman sold 60,000 shares of Inari Medical stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $56.74, for a total transaction of $3,404,400.00. Following the sale, the director now owns 743,296 shares of the company’s stock, valued at $42,174,615.04. The disclosure for this sale can be found here. Insiders have sold 117,780 shares of company stock worth $6,393,074 in the last ninety days. 10.60% of the stock is owned by insiders.

Institutional Trading of Inari Medical

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in Inari Medical by 7.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 596,007 shares of the company’s stock worth $38,693,000 after purchasing an additional 41,555 shares during the period. Norges Bank acquired a new position in Inari Medical during the 4th quarter worth $29,491,000. Motley Fool Asset Management LLC increased its holdings in Inari Medical by 46.2% during the 1st quarter. Motley Fool Asset Management LLC now owns 64,677 shares of the company’s stock worth $3,103,000 after purchasing an additional 20,438 shares during the period. Bamco Inc. NY boosted its stake in shares of Inari Medical by 27.4% in the 1st quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock valued at $37,288,000 after buying an additional 167,000 shares during the period. Finally, Point72 Europe London LLP boosted its stake in shares of Inari Medical by 91.8% in the 4th quarter. Point72 Europe London LLP now owns 332,202 shares of the company’s stock valued at $21,567,000 after buying an additional 158,997 shares during the period. Institutional investors and hedge funds 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.