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

Inari Medical, Inc. (NASDAQ:NARI)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $79.99 and last traded at $79.98, with a volume of 1372 shares. The stock had previously closed at $79.93.

Analysts Set New Price Targets

Several research analysts have weighed in on NARI shares. Truist Financial boosted their price target on Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Baird R W lowered Inari Medical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Robert W. Baird reiterated a “neutral” rating and set a $80.00 target price (down from $81.00) on shares of Inari Medical in a research note on Tuesday, January 7th. BTIG Research reiterated a “neutral” rating on shares of Inari Medical in a research note on Wednesday, January 8th. Finally, William Blair reiterated a “market perform” rating on shares of Inari Medical in a research note on Tuesday, January 7th. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $68.00.

Inari Medical Trading Up 0.1 %

The company has a 50 day moving average of $70.53 and a 200-day moving average of $55.01. The firm has a market capitalization of $4.68 billion, a P/E ratio of -59.24 and a beta of 1.02.

Insider Activity at Inari Medical

In other news, CEO Andrew Hykes sold 3,000 shares of the business’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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Hoffman sold 60,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $55.66, for a total value of $3,339,600.00. Following the transaction, the director now directly owns 441,233 shares of the company’s stock, valued at $24,559,028.78. This trade represents a 11.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 263,000 shares of company stock worth $15,599,470 in the last ninety days. 10.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Inari Medical

Institutional investors have recently modified their holdings of the business. Aigen Investment Management LP acquired a new position in shares of Inari Medical during the 3rd quarter worth $428,000. Vestal Point Capital LP raised its holdings 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 buying an additional 1,200,000 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Inari Medical during the 3rd quarter worth $1,397,000. Verition Fund Management LLC acquired a new position in Inari Medical in the 3rd quarter worth about $1,235,000. Finally, Jane Street Group LLC increased its holdings in Inari Medical by 32.4% in the 3rd quarter. Jane Street Group LLC now owns 95,223 shares of the company’s stock worth $3,927,000 after purchasing an additional 23,286 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.