Inari Medical (NASDAQ:NARI) Now Covered by Oppenheimer

Oppenheimer initiated coverage on shares of Inari Medical (NASDAQ:NARI) in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $75.00 target price on the stock.

NARI has been the subject of a number of other reports. Stifel Nicolaus assumed coverage on Inari Medical in a research report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 target price for the company. Robert W. Baird raised their target price on shares of Inari Medical from $66.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Piper Sandler upped their price target on shares of Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Truist Financial raised their price objective on shares of Inari Medical from $46.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday, October 29th. Finally, Leerink Partners began coverage on shares of Inari Medical in a report on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 target price for the company. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.50.

Inari Medical Price Performance

NASDAQ NARI opened at $56.16 on Tuesday. The company has a fifty day moving average of $49.03 and a two-hundred day moving average of $47.99. The company has a market capitalization of $3.29 billion, a PE ratio of -41.60 and a beta of 0.97. Inari Medical has a 1 year low of $36.73 and a 1 year high of $67.10.

Insider Buying and Selling at Inari Medical

In other news, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total value of $150,000.00. Following the completion of the sale, the chief executive officer now directly owns 445,310 shares of the company’s stock, valued at $22,265,500. This trade represents a 0.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.05, for a total value of $2,002,000.00. Following the completion of the sale, the director now owns 561,233 shares in the company, valued at approximately $28,089,711.65. This trade represents a 6.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,000 shares of company stock valued at $7,022,400. 10.60% of the stock is owned by corporate insiders.

Institutional Trading of Inari Medical

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Aigen Investment Management LP acquired a new position in Inari Medical during the third quarter worth about $428,000. Vestal Point Capital LP grew its holdings in shares of Inari Medical by 342.9% in the 3rd quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock worth $63,922,000 after acquiring an additional 1,200,000 shares during the period. Lighthouse Investment Partners LLC purchased a new position in Inari Medical in the 2nd quarter valued at approximately $2,145,000. Dynamic Technology Lab Private Ltd acquired a new position in Inari Medical during the third quarter worth $1,397,000. Finally, Integral Health Asset Management LLC boosted its position in Inari Medical by 100.0% during the second quarter. Integral Health Asset Management LLC now owns 400,000 shares of the company’s stock worth $19,260,000 after purchasing an additional 200,000 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Inari Medical Company Profile

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.