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

Inari Medical, Inc. (NASDAQ:NARI) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $79.99 and last traded at $79.98, with a volume of 1372 shares traded. The stock had previously closed at $79.93.

Wall Street Analyst Weigh In

NARI has been the subject of a number of recent research reports. BTIG Research reaffirmed a “neutral” rating on shares of Inari Medical in a report on Wednesday, January 8th. Piper Sandler raised their price objective on Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. William Blair restated a “market perform” rating on shares of Inari Medical in a research report on Tuesday, January 7th. Canaccord Genuity Group restated a “hold” rating and set a $80.00 price objective (up from $74.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Finally, Baird R W downgraded Inari Medical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Inari Medical currently has an average rating of “Hold” and an average target price of $68.00.

Inari Medical Stock Up 0.1 %

The firm has a 50 day moving average of $70.53 and a 200 day moving average of $55.01. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of -59.24 and a beta of 1.02.

Insider Buying and Selling at Inari Medical

In other Inari Medical news, Director William Hoffman sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $60.47, for a total value of $12,094,000.00. Following the completion of the sale, the director now 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $55.29, for a total value of $165,870.00. Following the completion of the sale, the chief executive officer now directly owns 439,310 shares of the company’s stock, valued at $24,289,449.90. This trade represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 263,000 shares of company stock valued at $15,599,470. Company insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

A number of hedge funds have recently added to or reduced their stakes in NARI. Smartleaf Asset Management LLC grew its stake in Inari Medical by 128.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 634 shares of the company’s stock valued at $33,000 after acquiring an additional 356 shares during the period. R Squared Ltd bought a new position in shares of Inari Medical in the fourth quarter valued at approximately $45,000. Quarry LP bought a new position in shares of Inari Medical in the fourth quarter valued at approximately $57,000. Quadrant Capital Group LLC lifted its holdings in shares of Inari Medical by 12.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,301 shares of the company’s stock valued at $66,000 after purchasing an additional 143 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Inari Medical by 39.0% in the third quarter. KBC Group NV now owns 1,774 shares of the company’s stock valued at $73,000 after purchasing an additional 498 shares in the last quarter. Institutional investors and hedge funds 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.