Inari Medical (NASDAQ:NARI) Earns Equal Weight Rating from Wells Fargo & Company

Inari Medical (NASDAQ:NARI)‘s stock had its “equal weight” rating reiterated by analysts at Wells Fargo & Company in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $80.00 price target on the stock, up from their prior price target of $65.00. Wells Fargo & Company‘s price target indicates a potential upside of 0.83% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. William Blair reissued a “market perform” rating on shares of Inari Medical in a research report on Tuesday. Stifel Nicolaus began coverage on Inari Medical in a research note on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price target on the stock. Robert W. Baird reiterated a “neutral” rating and set a $80.00 price target (down previously from $81.00) on shares of Inari Medical in a report on Tuesday. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research report on Tuesday, October 29th. Finally, Piper Sandler boosted their price objective on shares of Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Inari Medical currently has an average rating of “Hold” and an average target price of $68.00.

Inari Medical Stock Performance

Inari Medical stock traded up $14.34 during midday trading on Tuesday, hitting $79.34. 21,796,179 shares of the company’s stock were exchanged, compared to its average volume of 9,127,016. Inari Medical has a 52-week low of $36.73 and a 52-week high of $79.48. The company has a market cap of $4.64 billion, a P/E ratio of -58.77 and a beta of 0.97. The stock has a 50-day moving average price of $52.24 and a two-hundred day moving average price of $48.69.

Insider Buying and Selling at Inari Medical

In other news, Director William Hoffman sold 40,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total value of $1,800,800.00. Following the completion of the sale, the director now directly owns 601,233 shares of the company’s stock, valued at approximately $27,067,509.66. The trade was a 6.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the completion of the sale, the chief executive officer now directly owns 445,310 shares in the company, valued at approximately $22,265,500. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,000 shares of company stock worth $10,527,870 in the last three months. 10.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Inari Medical

Hedge funds and other institutional investors have recently modified their holdings of the company. Arizona State Retirement System increased its holdings in shares of Inari Medical by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock valued at $703,000 after acquiring an additional 358 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Inari Medical by 67.2% during the third quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock valued at $49,000 after acquiring an additional 473 shares during the period. KBC Group NV raised its holdings in shares of Inari Medical by 39.0% in the 3rd quarter. KBC Group NV now owns 1,774 shares of the company’s stock worth $73,000 after purchasing an additional 498 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Inari Medical by 39.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after purchasing an additional 522 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Inari Medical by 2.8% during the third quarter. Cerity Partners LLC now owns 24,056 shares of the company’s stock valued at $992,000 after acquiring an additional 652 shares during the period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

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.