Inari Medical (NASDAQ:NARI) Shares Up 4.3% – What’s Next?

Inari Medical, Inc. (NASDAQ:NARI)’s stock price was up 4.3% during mid-day trading on Friday . The company traded as high as $51.42 and last traded at $51.38. Approximately 174,198 shares were traded during trading, a decline of 82% from the average daily volume of 988,941 shares. The stock had previously closed at $49.24.

Analyst Ratings Changes

NARI has been the subject of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Leerink Partners initiated coverage on shares of Inari Medical in a research report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price objective on the stock. Piper Sandler raised their target price on shares of Inari Medical from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Truist Financial lifted their target price on shares of Inari Medical from $46.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company decreased their price target on shares of Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Six 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 company has an average rating of “Hold” and a consensus price target of $58.89.

Inari Medical Stock Performance

The company has a market capitalization of $2.96 billion, a PE ratio of -37.45 and a beta of 0.96. The business’s 50-day moving average is $45.19 and its 200-day moving average is $47.01.

Insider Transactions at Inari Medical

In other news, CEO Andrew Hykes sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the completion of the transaction, the chief executive officer now directly owns 445,310 shares of the company’s stock, valued at $22,265,500. The trade was a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Hoffman sold 40,000 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.05, for a total value of $2,002,000.00. Following the transaction, the director now directly owns 561,233 shares in the company, valued at $28,089,711.65. The trade was a 6.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 126,000 shares of company stock valued at $5,921,390. Insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Inari Medical by 164.7% in the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock worth $34,000 after buying an additional 438 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Inari Medical by 83.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after acquiring an additional 435 shares during the last quarter. KBC Group NV grew its position in shares of Inari Medical by 39.0% during the 3rd quarter. KBC Group NV now owns 1,774 shares of the company’s stock valued at $73,000 after acquiring an additional 498 shares during the period. Covestor Ltd increased its stake in shares of Inari Medical by 30.2% in the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after purchasing an additional 376 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Inari Medical by 39.4% in the 2nd 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 during the period. 90.98% of the stock is currently owned by institutional investors.

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.