Inari Medical (NASDAQ:NARI) Coverage Initiated by Analysts at Oppenheimer

Investment analysts at Oppenheimer initiated coverage on shares of Inari Medical (NASDAQ:NARI) in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $75.00 price target on the stock. Oppenheimer’s target price would suggest a potential upside of 36.29% from the stock’s current price.

Several other research analysts also recently commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a research note 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 for the company. Piper Sandler increased their price objective on shares of Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Leerink Partnrs upgraded shares of Inari Medical to a “hold” rating in a research note on Tuesday, September 3rd. Finally, Truist Financial upped their price target 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. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.80.

Inari Medical Stock Performance

Inari Medical stock opened at $55.03 on Tuesday. The stock has a 50-day simple moving average of $49.30 and a 200 day simple moving average of $48.04. The stock has a market capitalization of $3.22 billion, a P/E ratio of -40.76 and a beta of 0.97. Inari Medical has a 52 week low of $36.73 and a 52 week high of $67.10.

Insider Buying and Selling at Inari Medical

In related news, Director William Hoffman sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $51.16, for a total value of $3,069,600.00. Following the completion of the sale, the director now directly owns 501,233 shares in the company, valued at approximately $25,643,080.28. The trade was a 10.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total value of $150,000.00. Following the sale, the chief executive officer now directly owns 445,310 shares in the company, valued at $22,265,500. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 203,000 shares of company stock valued at $10,362,000 in the last quarter. Company insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NARI. Vestal Point Capital LP grew its stake in Inari Medical by 342.9% during the third quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock worth $63,922,000 after buying an additional 1,200,000 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Inari Medical by 113.3% in 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 buying an additional 786,691 shares in the last quarter. Armistice Capital LLC lifted its holdings in shares of Inari Medical by 353.1% during the 2nd quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock worth $48,595,000 after acquiring an additional 786,501 shares during the period. Jennison Associates LLC boosted its position in shares of Inari Medical by 63.2% during the 3rd quarter. Jennison Associates LLC now owns 1,576,641 shares of the company’s stock worth $65,021,000 after acquiring an additional 610,468 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Inari Medical by 101.3% in the third quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company’s stock valued at $32,790,000 after acquiring an additional 400,198 shares during the last quarter. Institutional investors 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.