Piper Sandler Boosts Inari Medical (NASDAQ:NARI) Price Target to $80.00

Inari Medical (NASDAQ:NARI) had its price target increased by Piper Sandler from $52.00 to $80.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other analysts also recently issued reports on NARI. Canaccord Genuity Group reaffirmed a “hold” rating and set a $80.00 price objective (up from $74.00) on shares of Inari Medical in a report on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Oppenheimer began coverage on shares of Inari Medical in a report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price objective for the company. Truist Financial increased their price target on shares of Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $80.00 price target (down from $81.00) on shares of Inari Medical in a report on Tuesday. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $68.00.

Inari Medical Trading Down 0.2 %

NASDAQ NARI opened at $79.30 on Tuesday. The company has a fifty day simple moving average of $53.49 and a 200 day simple moving average of $49.14. The company has a market cap of $4.64 billion, a P/E ratio of -58.74 and a beta of 0.97. Inari Medical has a 1 year low of $36.73 and a 1 year high of $79.69.

Insider Transactions at Inari Medical

In related news, Director William Hoffman sold 40,000 shares of the 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 in the company, valued at $27,067,509.66. This trade represents a 6.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $55.29, for a total transaction of $165,870.00. Following the sale, the chief executive officer now owns 439,310 shares of the company’s stock, valued at $24,289,449.90. This trade represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 406,000 shares of company stock valued at $22,621,870. Company insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in Inari Medical by 66.8% in the 4th quarter. GAMMA Investing LLC now owns 1,963 shares of the company’s stock valued at $100,000 after acquiring an additional 786 shares in the last quarter. Franklin Resources Inc. increased its position in Inari Medical by 2.2% in the 3rd quarter. Franklin Resources Inc. now owns 223,810 shares of the company’s stock valued at $9,445,000 after acquiring an additional 4,899 shares in the last quarter. Barclays PLC increased its position in Inari Medical by 9.7% in the 3rd quarter. Barclays PLC now owns 288,079 shares of the company’s stock valued at $11,881,000 after acquiring an additional 25,365 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in Inari Medical by 316.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 44,318 shares of the company’s stock valued at $1,828,000 after acquiring an additional 33,682 shares in the last quarter. Finally, Jane Street Group LLC increased its position in Inari Medical by 32.4% in the 3rd quarter. Jane Street Group LLC now owns 95,223 shares of the company’s stock valued at $3,927,000 after acquiring an additional 23,286 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

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.