Wells Fargo & Company Reiterates “Equal Weight” Rating for Inari Medical (NASDAQ:NARI)

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

Several other research analysts also recently issued reports on the company. William Blair reaffirmed a “market perform” rating on shares of Inari Medical in a report on Tuesday. Canaccord Genuity Group reiterated a “hold” rating and set a $80.00 price objective (up previously from $74.00) on shares of Inari Medical in a report on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Stifel Nicolaus started coverage on shares of Inari Medical in a report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 target price on the stock. Finally, Piper Sandler lifted their target price on shares of Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a 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. According to MarketBeat.com, Inari Medical has a consensus rating of “Hold” and a consensus target price of $68.00.

Inari Medical Trading Up 22.1 %

NARI stock traded up $14.34 during trading on Tuesday, reaching $79.34. 21,796,179 shares of the stock were exchanged, compared to its average volume of 9,127,016. Inari Medical has a twelve month low of $36.73 and a twelve month high of $79.48. The company has a market capitalization of $4.64 billion, a P/E ratio of -58.77 and a beta of 0.97. The stock has a 50 day simple moving average of $52.24 and a 200-day simple moving average of $48.69.

Insider Transactions at Inari Medical

In other Inari Medical news, Director William Hoffman sold 40,000 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.05, for a total transaction of $2,002,000.00. Following the sale, the director now directly owns 561,233 shares of the company’s stock, valued at approximately $28,089,711.65. This trade represents a 6.65 % decrease in their position. The sale 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 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 transaction, the chief executive officer now owns 439,310 shares of the company’s stock, valued at approximately $24,289,449.90. This represents a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 206,000 shares of company stock worth $10,527,870. 10.60% of the stock is currently owned by insiders.

Institutional Trading of Inari Medical

Institutional investors have recently modified their holdings of the stock. Jennison Associates LLC lifted its stake in shares of Inari Medical by 63.2% in the 3rd quarter. Jennison Associates LLC now owns 1,576,641 shares of the company’s stock valued at $65,021,000 after purchasing an additional 610,468 shares during the last quarter. Vestal Point Capital LP lifted its position in Inari Medical by 342.9% in the third quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock valued at $63,922,000 after buying an additional 1,200,000 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Inari Medical by 113.3% in the second quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock valued at $71,324,000 after buying an additional 786,691 shares in the last quarter. Armistice Capital LLC lifted its position in shares of Inari Medical by 353.1% during the second quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock worth $48,595,000 after purchasing an additional 786,501 shares in the last quarter. Finally, Bamco Inc. NY increased its position in shares of Inari Medical by 29.5% during the third quarter. Bamco Inc. NY now owns 1,006,129 shares of the company’s stock worth $41,493,000 after acquiring an additional 228,977 shares during the period. 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.