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

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

Other analysts also recently issued research reports about the company. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a research report on Tuesday, October 29th. Stifel Nicolaus assumed coverage on shares of Inari Medical in a research note on Tuesday, September 17th. They set a “hold” rating and a $50.00 price target on the stock. Canaccord Genuity Group increased their price objective on shares of Inari Medical from $71.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Leerink Partnrs upgraded shares of Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. Finally, Robert W. Baird upped their target price 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. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.80.

Inari Medical Stock Performance

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

Insiders Place Their Bets

In related news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.05, for a total transaction of $2,002,000.00. Following the transaction, the director now owns 561,233 shares in the company, valued at $28,089,711.65. This represents a 6.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the completion of the sale, the chief executive officer now owns 445,310 shares of the company’s stock, valued at $22,265,500. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 206,000 shares of company stock valued at $10,527,870. 10.60% of the stock is currently owned by insiders.

Institutional Trading of Inari Medical

Several hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its position in Inari Medical by 7.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock worth $234,000 after purchasing an additional 348 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Inari Medical by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock valued at $703,000 after buying an additional 358 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Inari Medical by 83.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after buying an additional 435 shares during the period. GAMMA Investing LLC raised its position in shares of Inari Medical by 67.2% during the third quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock worth $49,000 after acquiring an additional 473 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Inari Medical by 39.0% during the third quarter. KBC Group NV now owns 1,774 shares of the company’s stock valued at $73,000 after acquiring an additional 498 shares during the period. 90.98% of the stock is owned by institutional investors.

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.