Inari Medical (NASDAQ:NARI) Sets New 12-Month High – What’s Next?

Inari Medical, Inc. (NASDAQ:NARI) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $79.76 and last traded at $79.74, with a volume of 1661192 shares changing hands. The stock had previously closed at $79.46.

Analyst Upgrades and Downgrades

NARI has been the subject of several research analyst reports. Robert W. Baird restated a “neutral” rating and set a $80.00 price target (down previously from $81.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. BTIG Research reaffirmed a “neutral” rating on shares of Inari Medical in a research note on Wednesday, January 8th. Oppenheimer assumed coverage on Inari Medical in a research report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price target for the company. Finally, Canaccord Genuity Group restated a “hold” rating and issued a $80.00 price objective (up previously from $74.00) on shares of Inari Medical in a report on Tuesday, January 7th. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $68.00.

Inari Medical Trading Up 0.4 %

The firm’s 50-day moving average price is $60.40 and its two-hundred day moving average price is $51.69.

Insider Buying and Selling at Inari Medical

In related news, Director William Hoffman sold 200,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $60.47, for a total transaction of $12,094,000.00. Following the completion of the sale, the director now directly owns 238,987 shares of the company’s stock, valued at approximately $14,451,543.89. This trade represents a 45.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $55.29, for a total transaction of $165,870.00. Following the completion of the transaction, the chief executive officer now directly owns 439,310 shares in the company, valued at $24,289,449.90. The trade was a 0.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 366,000 shares of company stock worth $20,821,070 in the last ninety days. 10.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Jennison Associates LLC increased its holdings in Inari Medical by 11.8% during the 4th quarter. Jennison Associates LLC now owns 1,763,258 shares of the company’s stock worth $90,014,000 after purchasing an additional 186,617 shares during the period. R Squared Ltd purchased a new stake in shares of Inari Medical during the fourth quarter worth approximately $45,000. KBC Group NV increased its stake in shares of Inari Medical by 31.5% during the fourth quarter. KBC Group NV now owns 2,333 shares of the company’s stock worth $119,000 after buying an additional 559 shares during the period. AMI Asset Management Corp purchased a new position in Inari Medical in the fourth quarter worth approximately $1,651,000. Finally, GAMMA Investing LLC grew its holdings in Inari Medical by 66.8% during the 4th quarter. GAMMA Investing LLC now owns 1,963 shares of the company’s stock worth $100,000 after acquiring an additional 786 shares in the last quarter. Hedge funds and other institutional investors 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.