Wells Fargo & Company Reaffirms “Equal Weight” Rating for Inari Medical (NASDAQ:NARI)

Inari Medical (NASDAQ:NARI)‘s stock had its “equal weight” rating reaffirmed by Wells Fargo & Company in a research note issued on Tuesday,Benzinga reports. They currently have a $80.00 price objective on the stock, up from their prior price objective of $65.00. Wells Fargo & Company‘s price objective indicates a potential upside of 0.88% from the stock’s current price.

Several other brokerages have also recently weighed in on NARI. Robert W. Baird reissued a “neutral” rating and set a $80.00 price objective (down from $81.00) on shares of Inari Medical in a research note on Tuesday. Canaccord Genuity Group restated a “hold” rating and set a $80.00 price target (up previously from $74.00) on shares of Inari Medical in a report on Tuesday. Stifel Nicolaus began coverage on shares of Inari Medical in a research note on Tuesday, September 17th. They set a “hold” rating and a $50.00 price objective for the company. Piper Sandler increased their target price on shares of Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Inari Medical has an average rating of “Hold” and a consensus price target of $68.00.

Inari Medical Stock Down 0.2 %

Inari Medical stock opened at $79.30 on Tuesday. The company’s 50-day moving average price is $52.85 and its 200-day moving average price is $48.92. The company has a market cap of $4.64 billion, a PE ratio of -58.74 and a beta of 0.97. Inari Medical has a twelve month low of $36.73 and a twelve month high of $79.69.

Insider Buying and Selling at Inari Medical

In other news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total value of $1,800,800.00. Following the completion of the sale, the director now owns 601,233 shares of the company’s stock, valued at approximately $27,067,509.66. This represents a 6.24 % decrease in their position. 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 stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $55.29, for a total transaction of $165,870.00. Following the transaction, the chief executive officer now owns 439,310 shares in the company, valued at approximately $24,289,449.90. This represents a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 406,000 shares of company stock valued at $22,621,870 in the last ninety days. Corporate insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in Inari Medical by 67.2% in the third quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock valued at $49,000 after purchasing an additional 473 shares during the last quarter. KBC Group NV grew its position in shares of Inari Medical by 39.0% in the 3rd quarter. KBC Group NV now owns 1,774 shares of the company’s stock worth $73,000 after buying an additional 498 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Inari Medical by 39.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after acquiring an additional 522 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Inari Medical during the second quarter valued at approximately $104,000. Finally, Quest Partners LLC lifted its position in Inari Medical by 31,257.1% during the second quarter. Quest Partners LLC now owns 2,195 shares of the company’s stock valued at $106,000 after acquiring an additional 2,188 shares during the last quarter. 90.98% of the stock is 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.