Inari Medical (NASDAQ:NARI) Hits New 12-Month High – Here’s Why

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NARI shares. Robert W. Baird restated a “neutral” rating and set a $80.00 price objective (down previously from $81.00) on shares of Inari Medical in a report on Tuesday, January 7th. BTIG Research restated a “neutral” rating on shares of Inari Medical in a report on Wednesday, January 8th. Oppenheimer initiated coverage on shares of Inari Medical in a report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price objective on the stock. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Finally, William Blair reaffirmed a “market perform” rating on shares of Inari Medical in a research report on Tuesday, January 7th. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $68.00.

Inari Medical Trading Up 0.0 %

The stock has a market cap of $4.68 billion, a PE ratio of -59.20 and a beta of 1.02. The company’s 50 day moving average is $67.37 and its 200-day moving average is $53.76.

Insider Buying and Selling

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 of the company’s stock, valued at approximately $24,559,028.78. This represents a 11.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $55.29, for a total value of $165,870.00. Following the transaction, the chief executive officer now owns 439,310 shares of the company’s stock, valued at approximately $24,289,449.90. The trade was a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 323,000 shares of company stock worth $18,669,070. Insiders own 10.60% of the company’s stock.

Institutional Trading of Inari Medical

A number of large investors have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in shares of Inari Medical by 5.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,550 shares of the company’s stock worth $130,000 after purchasing an additional 128 shares in the last quarter. Arizona State Retirement System lifted its holdings in Inari Medical by 0.9% in the fourth quarter. Arizona State Retirement System now owns 15,196 shares of the company’s stock worth $776,000 after purchasing an additional 129 shares during the period. Ieq Capital LLC grew its position in Inari Medical by 0.3% in the 4th quarter. Ieq Capital LLC now owns 50,198 shares of the company’s stock valued at $2,563,000 after buying an additional 145 shares in the last quarter. HighTower Advisors LLC increased its stake in Inari Medical by 0.4% during the 4th quarter. HighTower Advisors LLC now owns 62,202 shares of the company’s stock valued at $3,175,000 after buying an additional 234 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of Inari Medical by 128.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 634 shares of the company’s stock worth $33,000 after buying an additional 356 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.