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

Inari Medical (NASDAQ:NARI)‘s stock had its “equal weight” rating reiterated by Wells Fargo & Company in a report released on Tuesday,Benzinga reports. They presently have a $80.00 price objective on the stock, up from their previous price objective of $65.00. Wells Fargo & Company‘s price target suggests a potential upside of 0.88% from the company’s current price.

A number of other brokerages have also weighed in on NARI. Oppenheimer initiated coverage on shares of Inari Medical in a report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price objective on the stock. Robert W. Baird reissued a “neutral” rating and issued a $80.00 price objective (down from $81.00) on shares of Inari Medical in a report on Tuesday. Stifel Nicolaus initiated coverage on Inari Medical in a research note on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a research report on Tuesday, October 29th. Finally, Truist Financial raised their price target on shares of Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $68.00.

Inari Medical Stock Down 0.2 %

NARI stock opened at $79.30 on Tuesday. The stock has a market capitalization of $4.64 billion, a PE ratio of -58.74 and a beta of 0.97. Inari Medical has a 52 week low of $36.73 and a 52 week high of $79.69. The firm has a 50 day moving average of $52.85 and a 200 day moving average of $48.92.

Insider Buying and Selling at Inari Medical

In other news, Director William Hoffman sold 40,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total transaction 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 $27,067,509.66. The trade was a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Hykes sold 3,000 shares of the business’s 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 owns 445,310 shares of the company’s stock, valued at approximately $22,265,500. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 406,000 shares of company stock valued at $22,621,870. Company insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

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

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.