BTIG Research Reiterates Neutral Rating for Inari Medical (NASDAQ:NARI)

Inari Medical (NASDAQ:NARI)‘s stock had its “neutral” rating reaffirmed by BTIG Research in a research note issued on Wednesday,Benzinga reports.

A number of other equities analysts have also recently weighed in on the company. Baird R W cut Inari Medical from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Oppenheimer started coverage on shares of Inari Medical in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 price objective for the company. William Blair reaffirmed a “market perform” rating on shares of Inari Medical in a research note on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Finally, Piper Sandler upped their target price on Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Inari Medical currently has a consensus rating of “Hold” and an average target price of $68.00.

Inari Medical Trading Up 0.1 %

Shares of NARI traded up $0.04 during mid-day trading on Wednesday, hitting $79.49. The company’s stock had a trading volume of 5,267,215 shares, compared to its average volume of 9,018,098. Inari Medical has a 1-year low of $36.73 and a 1-year high of $79.69. The firm has a market capitalization of $4.65 billion, a P/E ratio of -58.88 and a beta of 0.97. The firm has a 50-day simple moving average of $52.85 and a 200 day simple moving average of $48.92.

Insider Buying and Selling

In other news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total transaction of $150,000.00. Following the sale, the chief executive officer now owns 445,310 shares of the company’s stock, valued at approximately $22,265,500. The trade was a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William Hoffman sold 40,000 shares of the firm’s 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 represents a 6.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 206,000 shares of company stock worth $10,527,870. Insiders own 10.60% of the company’s stock.

Hedge Funds Weigh In On Inari Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NARI. Jennison Associates LLC grew its position in Inari Medical by 63.2% in the third quarter. Jennison Associates LLC now owns 1,576,641 shares of the company’s stock worth $65,021,000 after buying an additional 610,468 shares during the last quarter. Vestal Point Capital LP boosted its stake in shares of Inari Medical by 342.9% during 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 in the last quarter. Point72 Asset Management L.P. raised its position in shares of Inari Medical by 113.3% during the second quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock worth $71,324,000 after purchasing an additional 786,691 shares during the period. Armistice Capital LLC raised its position in shares of Inari Medical by 353.1% during the second quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock worth $48,595,000 after purchasing an additional 786,501 shares during the period. Finally, Bamco Inc. NY lifted its holdings in shares of Inari Medical by 29.5% during the third quarter. Bamco Inc. NY now owns 1,006,129 shares of the company’s stock valued at $41,493,000 after purchasing an additional 228,977 shares during the last quarter. 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.