Truist Financial Issues Positive Forecast for Inari Medical (NASDAQ:NARI) Stock Price

Inari Medical (NASDAQ:NARI) had its target price upped by analysts at Truist Financial from $50.00 to $63.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price target would suggest a potential upside of 13.45% from the company’s current price.

Other analysts have also issued research reports about the company. Robert W. Baird boosted their price target on Inari Medical from $66.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Leerink Partnrs upgraded Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Canaccord Genuity Group upped their price objective on shares of Inari Medical from $71.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, Stifel Nicolaus began coverage on shares of Inari Medical in a research report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price target for the company. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $61.80.

Inari Medical Price Performance

Shares of NARI traded down $0.63 during mid-day trading on Wednesday, reaching $55.53. 57,647 shares of the company’s stock traded hands, compared to its average volume of 987,741. Inari Medical has a 12 month low of $36.73 and a 12 month high of $67.10. The stock has a market cap of $3.25 billion, a P/E ratio of -41.13 and a beta of 0.97. The stock’s 50-day moving average is $49.03 and its two-hundred day moving average is $47.99.

Insider Buying and Selling

In related news, Director William Hoffman sold 60,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $51.16, for a total transaction of $3,069,600.00. Following the completion of the transaction, the director now owns 501,233 shares in the company, valued at $25,643,080.28. This represents a 10.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total value of $150,000.00. Following the completion of the transaction, the chief executive officer now owns 445,310 shares in the company, valued at approximately $22,265,500. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 143,000 shares of company stock valued at $7,022,400. 10.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Inari Medical

Several hedge funds and other institutional investors have recently modified their holdings of NARI. Wealth Enhancement Advisory Services LLC raised its holdings in Inari Medical by 7.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock valued at $234,000 after acquiring an additional 348 shares during the last quarter. Arizona State Retirement System boosted its stake in Inari Medical by 2.5% during the second quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock worth $703,000 after buying an additional 358 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Inari Medical by 83.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after buying an additional 435 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Inari Medical by 67.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock worth $49,000 after acquiring an additional 473 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Inari Medical by 39.0% during the 3rd quarter. KBC Group NV now owns 1,774 shares of the company’s stock worth $73,000 after acquiring an additional 498 shares during the period. 90.98% of the stock is owned by hedge funds and other institutional investors.

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.