Analysts Set Inari Medical, Inc. (NASDAQ:NARI) PT at $58.89

Shares of Inari Medical, Inc. (NASDAQ:NARI) have earned an average rating of “Hold” from the eleven brokerages that are covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $58.89.

A number of equities analysts recently issued reports on the stock. Canaccord Genuity Group increased their price target on shares of Inari Medical from $71.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Robert W. Baird raised their target price on Inari Medical from $66.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Leerink Partners began coverage on Inari Medical in a report on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Inari Medical in a report on Friday, August 9th. They set a “buy” rating and a $68.00 target price on the stock.

Insiders Place Their Bets

In related news, Director William Hoffman sold 40,000 shares of the business’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 transaction, the director now directly owns 601,233 shares in the company, valued at $27,067,509.66. The trade was a 6.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mitch C. Hill sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $45.13, for a total value of $135,390.00. Following the completion of the transaction, the chief financial officer now directly owns 179,600 shares in the company, valued at $8,105,348. This trade represents a 1.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,000 shares of company stock valued at $8,990,990. Insiders own 10.60% of the company’s stock.

Hedge Funds Weigh In On Inari Medical

Hedge funds have recently bought and sold shares of the business. Swiss National Bank grew its stake in shares of Inari Medical by 0.6% in the first quarter. Swiss National Bank now owns 102,300 shares of the company’s stock worth $4,908,000 after acquiring an additional 600 shares during the period. ProShare Advisors LLC grew its position in Inari Medical by 4.7% in the 1st quarter. ProShare Advisors LLC now owns 12,319 shares of the company’s stock worth $591,000 after purchasing an additional 553 shares during the period. Vanguard Group Inc. raised its stake in Inari Medical by 11.1% during the 1st quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock valued at $268,681,000 after buying an additional 561,562 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Inari Medical by 30.2% during the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after buying an additional 376 shares during the period. Finally, Seven Eight Capital LP purchased a new position in shares of Inari Medical in the 1st quarter worth $499,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Inari Medical Trading Down 0.2 %

Shares of Inari Medical stock opened at $49.66 on Monday. The company’s fifty day simple moving average is $45.60 and its two-hundred day simple moving average is $47.21. Inari Medical has a 12-month low of $36.73 and a 12-month high of $67.13. The company has a market cap of $2.91 billion, a P/E ratio of -36.78 and a beta of 0.96.

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.