Inari Medical (NASDAQ:NARI) Price Target Raised to $63.00

by · The Markets Daily

Inari Medical (NASDAQ:NARI – Free Report) had its price target boosted by Truist Financial from $50.00 to $63.00 in a research report released on Wednesday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other research firms have also weighed in on NARI. Stifel Nicolaus began coverage on Inari Medical in a research note on Tuesday, September 17th. They set a “hold” rating and a $50.00 price objective for the company. Oppenheimer initiated coverage on Inari Medical in a research note on Tuesday. They issued an “outperform” rating and a $75.00 price target on the stock. Piper Sandler upped their price objective on shares of Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Robert W. Baird boosted their price target on shares of Inari Medical from $66.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, Leerink Partnrs raised shares of Inari Medical to a “hold” rating in a research note on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.80.

View Our Latest Stock Report on NARI

Inari Medical Price Performance

NARI stock opened at $55.45 on Wednesday. The firm has a market cap of $3.25 billion, a PE ratio of -41.07 and a beta of 0.97. Inari Medical has a 12 month low of $36.73 and a 12 month high of $66.61. The firm has a 50 day simple moving average of $50.12 and a 200 day simple moving average of $48.16.

Insider Activity

In other Inari Medical 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 sale, the director now directly 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 legal filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction 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 $24,289,449.90. This represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,000 shares of company stock worth $10,527,870 in the last ninety days. Corporate insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

A number of large investors have recently bought and sold shares of NARI. Aigen Investment Management LP bought a new stake in shares of Inari Medical during the 3rd quarter worth about $428,000. Vestal Point Capital LP boosted its position 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 purchasing an additional 1,200,000 shares during the period. Lighthouse Investment Partners LLC acquired a new position in Inari Medical during the second quarter valued at approximately $2,145,000. Dynamic Technology Lab Private Ltd acquired a new position in Inari Medical during the third quarter valued at approximately $1,397,000. Finally, Integral Health Asset Management LLC boosted its holdings in shares of Inari Medical by 100.0% during the 2nd quarter. Integral Health Asset Management LLC now owns 400,000 shares of the company’s stock worth $19,260,000 after buying an additional 200,000 shares during the period. 90.98% of the stock is currently owned by institutional investors.

About Inari Medical

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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.

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