Wellington Management Group LLP Decreases Stake in Inari Medical, Inc. (NASDAQ:NARI)

Wellington Management Group LLP cut its holdings in shares of Inari Medical, Inc. (NASDAQ:NARI) by 10.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,563,325 shares of the company’s stock after selling 532,811 shares during the quarter. Wellington Management Group LLP owned approximately 0.08% of Inari Medical worth $296,251,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. raised its position in shares of Inari Medical by 27.4% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock valued at $71,000 after purchasing an additional 236 shares during the period. Handelsinvest Investeringsforvaltning purchased a new position in Inari Medical in the 4th quarter valued at approximately $185,000. Clear Street Markets LLC bought a new stake in Inari Medical during the 4th quarter valued at $198,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Inari Medical during the third quarter worth $204,000. Finally, Blair William & Co. IL bought a new position in shares of Inari Medical in the third quarter worth $205,000. Institutional investors own 90.98% of the company’s stock.

Inari Medical Trading Down 4.6 %

Shares of Inari Medical stock opened at $43.23 on Tuesday. The company has a 50 day simple moving average of $44.15 and a two-hundred day simple moving average of $51.44. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $71.85.

Inari Medical (NASDAQ:NARI) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.15). Inari Medical had a negative return on equity of 1.65% and a negative net margin of 4.54%. The company had revenue of $143.19 million for the quarter, compared to the consensus estimate of $138.32 million. As a group, equities research analysts expect that Inari Medical, Inc. will post -0.41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Truist Financial decreased their price objective on Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Piper Sandler lowered their price target on shares of Inari Medical from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Wells Fargo & Company reduced their price objective on shares of Inari Medical from $100.00 to $84.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Needham & Company LLC lowered their target price on shares of Inari Medical from $72.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, Canaccord Genuity Group reduced their price target on shares of Inari Medical from $75.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $65.71.

Insider Activity at Inari Medical

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $50.00, for a total value of $150,000.00. Following the completion of the sale, the chief executive officer now owns 465,474 shares of the company’s stock, valued at $23,273,700. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $50.00, for a total value of $150,000.00. Following the transaction, the chief executive officer now owns 465,474 shares in the company, valued at approximately $23,273,700. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William Hoffman sold 60,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $50.13, for a total transaction of $3,007,800.00. Following the completion of the sale, the director now directly owns 865,359 shares of the company’s stock, valued at $43,380,446.67. The disclosure for this sale can be found here. In the last three months, insiders have sold 160,964 shares of company stock valued at $7,502,234. Corporate insiders own 10.60% 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.