Inari Medical’s (NARI) Neutral Rating Reiterated at Piper Sandler

Piper Sandler reiterated their neutral rating on shares of Inari Medical (NASDAQ:NARI) in a report released on Monday, Benzinga reports. They currently have a $50.00 price target on the stock.

Several other analysts have also weighed in on NARI. Needham & Company LLC reiterated a hold rating on shares of Inari Medical in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Inari Medical in a report on Friday, August 9th. They set a buy rating and a $68.00 price objective on the stock. Canaccord Genuity Group boosted their target price on Inari Medical from $55.00 to $71.00 and gave the company a buy rating in a research report on Wednesday, July 31st. Truist Financial reiterated a hold rating and issued a $55.00 price target (down previously from $60.00) on shares of Inari Medical in a report on Wednesday, July 31st. Finally, Robert W. Baird lowered their target price on Inari Medical from $65.00 to $63.00 and set an outperform rating on the stock in a research report on Wednesday, July 31st. Three 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.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $61.29.

Inari Medical Stock Performance

Shares of NARI stock opened at $43.71 on Monday. The company has a market cap of $2.54 billion, a P/E ratio of -106.61 and a beta of 1.01. Inari Medical has a fifty-two week low of $36.73 and a fifty-two week high of $70.25. The stock has a 50 day simple moving average of $49.71 and a two-hundred day simple moving average of $47.30.

Insider Activity at Inari Medical

In other Inari Medical news, CFO Mitch C. Hill sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $47.60, for a total transaction of $238,000.00. Following the transaction, the chief financial officer now directly owns 181,294 shares in the company, valued at approximately $8,629,594.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 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 approximately $23,160,697.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Mitch C. Hill sold 5,000 shares of Inari Medical stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $47.60, for a total transaction of $238,000.00. Following the transaction, the chief financial officer now directly owns 181,294 shares in the company, valued at approximately $8,629,594.40. The disclosure for this sale can be found here. Insiders have sold a total of 117,780 shares of company stock valued at $6,393,074 over the last 90 days. Insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

A number of institutional investors and hedge funds have recently modified their holdings of NARI. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Inari Medical in the first quarter worth $30,000. GAMMA Investing LLC boosted its holdings in shares of Inari Medical by 164.7% in the 2nd 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 grew its position in Inari Medical by 83.5% during the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after buying an additional 435 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in Inari Medical by 27.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock worth $71,000 after buying an additional 236 shares during the last quarter. Finally, Covestor Ltd increased its holdings in Inari Medical by 30.2% during the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after buying an additional 376 shares during the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

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.