Inari Medical, Inc. (NASDAQ:NARI) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. lifted its position in Inari Medical, Inc. (NASDAQ:NARI) by 6.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,038,292 shares of the company’s stock after acquiring an additional 325,586 shares during the period. Vanguard Group Inc. owned 8.69% of Inari Medical worth $327,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Inari Medical in the fourth quarter valued at about $29,491,000. Brown Advisory Inc. increased its holdings in Inari Medical by 17.6% in the 4th quarter. Brown Advisory Inc. now owns 1,702,113 shares of the company’s stock worth $110,501,000 after buying an additional 255,182 shares during the period. Clearbridge Investments LLC purchased a new position in Inari Medical during the 4th quarter worth approximately $11,479,000. Point72 Europe London LLP lifted its stake in Inari Medical by 91.8% during the 4th quarter. Point72 Europe London LLP now owns 332,202 shares of the company’s stock valued at $21,567,000 after acquiring an additional 158,997 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Inari Medical by 23.4% in the 4th quarter. Principal Financial Group Inc. now owns 567,266 shares of the company’s stock valued at $36,827,000 after acquiring an additional 107,622 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Activity

In related news, CFO Mitch C. Hill sold 6,000 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $40.96, for a total transaction of $245,760.00. Following the completion of the transaction, the chief financial officer now owns 181,294 shares in the company, valued at approximately $7,425,802.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Mitch C. Hill sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $40.96, for a total transaction of $245,760.00. Following the completion of the sale, the chief financial officer now directly owns 181,294 shares in the company, valued at $7,425,802.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 465,474 shares in the company, valued at approximately $23,273,700. The disclosure for this sale can be found here. Insiders have sold a total of 161,224 shares of company stock worth $7,514,191 over the last 90 days. 10.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Inari Medical Trading Up 2.5 %

Shares of NARI stock opened at $48.15 on Friday. Inari Medical, Inc. has a 12-month low of $36.73 and a 12-month high of $71.85. The business’s 50 day moving average is $45.22 and its two-hundred day moving average is $50.59. The company has a market capitalization of $2.80 billion, a P/E ratio of -117.44 and a beta of 1.02.

Inari Medical (NASDAQ:NARI) last announced its earnings results 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 net margin of 4.54% and a negative return on equity of 1.65%. The business had revenue of $143.19 million for the quarter, compared to analysts’ expectations of $138.32 million. On average, research analysts predict that Inari Medical, Inc. will post -0.41 earnings per share for the current fiscal year.

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.