Inari Medical (NASDAQ:NARI) Given “Hold” Rating at Canaccord Genuity Group

by · The Cerbat Gem

Canaccord Genuity Group restated their hold rating on shares of Inari Medical (NASDAQ:NARI – Free Report) in a research report report published on Tuesday morning, MarketBeat reports. Canaccord Genuity Group currently has a $80.00 price objective on the stock, up from their prior price objective of $74.00.

Several other research analysts have also commented on NARI. Piper Sandler lifted their price target on Inari Medical from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Truist Financial lifted their target price on shares of Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Robert W. Baird increased their price target on shares of Inari Medical from $66.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Stifel Nicolaus assumed coverage on shares of Inari Medical in a research report on Tuesday, September 17th. They set a “hold” rating and a $50.00 price target on the stock. Finally, Oppenheimer assumed coverage on Inari Medical in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 price objective for the company. Twelve equities research 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 currently has an average rating of “Hold” and an average target price of $68.00.

View Our Latest Stock Report on NARI

Inari Medical Stock Performance

NASDAQ:NARI opened at $79.30 on Tuesday. Inari Medical has a one year low of $36.73 and a one year high of $79.69. The stock has a market cap of $4.64 billion, a PE ratio of -58.74 and a beta of 0.97. The stock has a 50 day moving average price of $53.49 and a 200 day moving average price of $49.14.

Insider Activity at Inari Medical

In other news, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $55.29, for a total value of $165,870.00. Following the sale, the chief executive officer now directly owns 439,310 shares in the company, valued at approximately $24,289,449.90. This trade represents a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Hoffman sold 200,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $60.47, for a total value of $12,094,000.00. Following the transaction, the director now directly owns 238,987 shares of the company’s stock, valued at $14,451,543.89. The trade was a 45.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 406,000 shares of company stock worth $22,621,870. 10.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Inari Medical

A number of hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings 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 acquiring an additional 473 shares in the last quarter. KBC Group NV increased 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 valued at $73,000 after purchasing an additional 498 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Inari Medical by 39.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after purchasing an additional 522 shares in the last quarter. Covestor Ltd lifted its position in shares of Inari Medical by 63.5% during the 3rd quarter. Covestor Ltd now owns 2,384 shares of the company’s stock worth $99,000 after purchasing an additional 926 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Inari Medical in the second quarter valued at $104,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

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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