Inari Medical (NASDAQ:NARI) Hits New 52-Week High – What’s Next?

Inari Medical, Inc. (NASDAQ:NARI)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $79.95 and last traded at $79.93, with a volume of 469145 shares trading hands. The stock had previously closed at $79.88.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. William Blair reaffirmed a “market perform” rating on shares of Inari Medical in a report on Tuesday, January 7th. Wells Fargo & Company restated an “equal weight” rating and set a $80.00 price objective (up previously from $65.00) on shares of Inari Medical in a research report on Tuesday, January 7th. BTIG Research reiterated a “neutral” rating on shares of Inari Medical in a report on Wednesday, January 8th. Robert W. Baird restated a “neutral” rating and issued a $80.00 price objective (down previously from $81.00) on shares of Inari Medical in a report on Tuesday, January 7th. Finally, Piper Sandler boosted their target price on shares of Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Inari Medical presently has an average rating of “Hold” and an average target price of $68.00.

Inari Medical Trading Up 0.0 %

The firm has a market capitalization of $4.68 billion, a P/E ratio of -59.20 and a beta of 1.02. The company’s fifty day moving average is $67.37 and its 200-day moving average is $53.76.

Insider Buying and Selling at Inari Medical

In other news, Director William Hoffman sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $55.66, for a total transaction of $3,339,600.00. Following the completion of the transaction, the director now directly owns 441,233 shares in the company, valued at $24,559,028.78. The trade was a 11.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $55.29, for a total transaction of $165,870.00. Following the completion of the sale, the chief executive officer now owns 439,310 shares in the company, valued at approximately $24,289,449.90. The trade was a 0.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 323,000 shares of company stock worth $18,669,070 over the last ninety days. Company insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NARI. Vestal Point Capital LP lifted its position in Inari Medical by 342.9% in the third quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock worth $63,922,000 after purchasing an additional 1,200,000 shares during the period. Jennison Associates LLC raised its stake in shares of Inari Medical by 63.2% in the 3rd quarter. Jennison Associates LLC now owns 1,576,641 shares of the company’s stock valued at $65,021,000 after buying an additional 610,468 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Inari Medical by 101.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company’s stock worth $32,790,000 after acquiring an additional 400,198 shares during the period. Norges Bank acquired a new stake in shares of Inari Medical during the 4th quarter valued at about $14,447,000. Finally, Bamco Inc. NY increased its stake in Inari Medical by 29.5% in the third quarter. Bamco Inc. NY now owns 1,006,129 shares of the company’s stock valued at $41,493,000 after acquiring an additional 228,977 shares during the period. 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.