Canaccord Genuity Group Reaffirms Hold Rating for Inari Medical (NASDAQ:NARI)

Inari Medical (NASDAQ:NARI)‘s stock had its “hold” rating restated by Canaccord Genuity Group in a report released on Tuesday,Benzinga reports. They presently have a $80.00 target price on the stock, up from their previous target price of $74.00. Canaccord Genuity Group’s target price suggests a potential upside of 23.08% from the stock’s current price.

A number of other equities analysts have also recently issued reports on NARI. Stifel Nicolaus initiated coverage on shares of Inari Medical in a research report on Tuesday, September 17th. They set a “hold” rating and a $50.00 target price for the company. Oppenheimer started coverage on Inari Medical in a research report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Robert W. Baird raised their price target on Inari Medical from $66.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, Truist Financial upped their price objective on Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $63.70.

Inari Medical Stock Up 30.6 %

Shares of NARI stock opened at $65.00 on Tuesday. The stock has a market cap of $3.81 billion, a P/E ratio of -48.15 and a beta of 0.97. Inari Medical has a fifty-two week low of $36.73 and a fifty-two week high of $65.94. The business has a fifty day simple moving average of $52.24 and a 200-day simple moving average of $48.69.

Insider Buying and Selling

In other news, Director William Hoffman sold 60,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $55.66, for a total transaction of $3,339,600.00. Following the completion of the sale, the director now directly owns 441,233 shares of the company’s stock, valued at $24,559,028.78. The trade was a 11.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Hykes sold 3,000 shares of the company’s 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 owns 439,310 shares of the company’s stock, valued at approximately $24,289,449.90. The trade was a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 206,000 shares of company stock worth $10,527,870. 10.60% of the stock is owned by company insiders.

Institutional Trading of Inari Medical

A number of institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Inari Medical by 67.2% during the third quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock valued at $49,000 after buying an additional 473 shares in the last quarter. KBC Group NV raised its stake 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 acquiring an additional 498 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake 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 acquiring an additional 522 shares during the period. Covestor Ltd lifted its holdings in shares of Inari Medical by 63.5% during the 3rd quarter. Covestor Ltd now owns 2,384 shares of the company’s stock valued at $99,000 after acquiring an additional 926 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Inari Medical during the 2nd quarter worth $104,000. Hedge funds and other institutional investors 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.