Inari Medical (NASDAQ:NARI) Given New $63.00 Price Target at Truist Financial

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

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus assumed coverage on shares of Inari Medical in a research note on Tuesday, September 17th. They set a “hold” rating and a $50.00 price target on the stock. Robert W. Baird raised their target price on shares of Inari Medical from $66.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Piper Sandler increased their price target on shares of Inari Medical from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Leerink Partnrs raised Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. Finally, Oppenheimer began coverage on Inari Medical in a research note on Tuesday. They set an “outperform” rating and a $75.00 target price for the company. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.80.

Inari Medical Trading Down 1.1 %

NASDAQ:NARI traded down $0.63 during mid-day trading on Wednesday, hitting $55.53. The stock had a trading volume of 57,647 shares, compared to its average volume of 987,741. The company has a market capitalization of $3.25 billion, a PE ratio of -41.13 and a beta of 0.97. The stock has a 50-day simple moving average of $49.03 and a two-hundred day simple moving average of $47.99. Inari Medical has a twelve month low of $36.73 and a twelve month high of $67.10.

Insider Transactions at Inari Medical

In other news, Director William Hoffman sold 60,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $51.16, for a total transaction of $3,069,600.00. Following the sale, the director now owns 501,233 shares in the company, valued at $25,643,080.28. This trade represents a 10.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $22,265,500. The trade was a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,000 shares of company stock valued at $7,022,400 in the last ninety days. Corporate insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Inari Medical

Hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. raised its holdings in shares of Inari Medical by 2.2% in the 3rd quarter. Franklin Resources Inc. now owns 223,810 shares of the company’s stock worth $9,445,000 after purchasing an additional 4,899 shares during the period. Barclays PLC boosted its stake in Inari Medical by 9.7% during the 3rd quarter. Barclays PLC now owns 288,079 shares of the company’s stock valued at $11,881,000 after acquiring an additional 25,365 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its stake in Inari Medical by 316.7% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 44,318 shares of the company’s stock valued at $1,828,000 after acquiring an additional 33,682 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Inari Medical by 32.4% in the 3rd quarter. Jane Street Group LLC now owns 95,223 shares of the company’s stock valued at $3,927,000 after purchasing an additional 23,286 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of Inari Medical during the third quarter worth about $9,008,000. 90.98% of the stock is owned by institutional investors and hedge funds.

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.